Krug Park Amphitheater Studies Published | Government
Details have been released on how the proposed improvements to the Krug Park Amphitheater could be used and the economic benefits they could have for the city.
The City of Saint-Joseph published the feasibility and economic impact studies for the Krug Park Amphitheater, which were recently completed by Stone Planning, a consulting firm specializing in the planning and operation of sites and events.
In the feasibility study, Stone Planning said its staff “do not believe there is a strong opportunity for a highly commercial amphitheater that hosts a significant number of nationally touring concerts in St. Joseph.”
The consulting firm said Krug Park should have a facility more geared towards local events, due to the heavy venues competition in Kansas City.
Stone Planning recommends a small, charming amphitheater with a capacity of around 4000 people. The agency also said roads and parking needed to be addressed, as well as basic amphitheater elements, such as technology and storage.
The study also mentioned that continued local access to the park should be ensured and that Stone Planning assumes that the Krug Trust will allow the sale of alcohol.
As for the number of operations, Stone Planning estimates that this proposed amphitheater would have between 46 and 65 events per year, including 6-10 concerts on tour, 10-15 local performances and a number of community and private events, with a total attendance of 69,000 to 95,000 people. one year.
The facility is estimated to have operating deficits of approximately $ 110,000 in its first two years, followed by small profits over the next two years. In the fifth year, operating profit is expected to be approximately $ 160,000 per year.
In the economic impact study, Stone Planning “estimated the potential future impacts to be captured in the city and by its inhabitants”.
The gross direct impacts, which are generated by spending by all facility visitors and other facility revenues, include $ 3 million in spending in the city, 14 jobs with approximately $ 700,000 in revenue, 820 hotel nights, and over $ 100,000 in new tax revenue for one year.
The total net impacts, which are generated by spending by non-residents of the city and include indirect spending estimated by economic multipliers, include $ 2.7 million in spending, 17 jobs with approximately $ 900,000 in revenue, 820 overnight stays hotel and $ 76,000 in new tax revenue a year.
Stone Planning also looked at potential fundraising opportunities, including forming districts and paying a fee on the sale of each ticket.
A community improvement district and a single performing and cultural arts district could generate $ 15,000 to $ 29,000 per year from a sales tax. A district tax increase funding could generate anywhere from $ 24,000 to $ 47,000 per year.
Establishment costs could range from $ 135,000 to $ 215,000 per year.
The city council will meet at 3:30 p.m. on Wednesday, May 12 in the council chamber of the town hall to discuss the studies and examine a bill at first reading in order to submit a proposal to the voters in order to finance a possible project. amphitheater in Krug Park. This election would take place on August 3.