Cultural Entertainment District - PowerPoint PPT Presentation

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Cultural Entertainment District

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  1. Cultural Entertainment District

  2. Cultural Entertainment District • Goal: • Create a series of venues that provide a variety of year-round entertainment activities for all ages that tie into both UH and community programs and activities

  3. Cultural Entertainment District

  4. Cultural Entertainment District • Vision Task Force recommended creating a Cultural/Entertainment District with the following elements: • Festival Site • Indoor Concert Venue • Minor League Ballpark • Cultural Arts Venue / Performing Arts Academy • Full Service Hotel & Convention Center • City Council adopted the conceptual site plan for the Cultural/Entertainment District on April 15, 2008

  5. Entertainment District – Conceptual Site Plan Cultural Entertainment District – Approved Conceptual Site Plan

  6. US 59 Proposed Entertainment District U of H Hotel/Convention Center Cultural Arts Venue Minor League Ballpark Concert Venue Festival Site Brazos Park Phase II Cultural Entertainment District – Approved Conceptual Site Plan

  7. Development Criteria • Project Cannot rely on general property taxes • Project cannot degrade quality of life in: • Traffic • Safety • Noise

  8. First Projects • Indoor Concert Venue • Minor League Baseball • Festival Site

  9. First Projects • Indoor Concert Venue • ~6,500 Seats • Similar in Design and Function to Nokia Theaters in Grand Prairie, TX and Los Angeles, CA

  10. First Projects • Minor League Baseball • ~4,000 seats to 10,000 Seats • Market Opportunity for Independent Team or Affiliated Team ( AA or AAA) • Festival Site • Provides green space, public art opportunity, … • Address growing community need • Tied to Brazos Park

  11. Potential Funding • Existing 4A and 4B sales tax funds • Direct project/venue revenues

  12. 4A Corporation • Existing ¼ Cent Sales tax adopted in 1993 for Economic Development • Has been used successfully on a number of projects including, • First Colony Mall, U of H, Town Square, US 59, Various Econ Dev projects…. • 4A funds - CANNOT be used to fund City operations

  13. Project Funding - 4A Corporation • 4A Funding – Existing Sales Tax for Economic Development • US 59 Project successful – Project winding down & freeing up capacity • Similar to US 59 Project in that a public vote will be required

  14. Project Funding – 4B Corporation • 4B Funding – Existing Sales Tax for Economic Development • Does not require election • Would require public hearing for project types • Available funding capacity

  15. 4B Corporation • Existing ¼ Cent Sales tax adopted in 1995 for Economic Development • Has been used successfully on a number of projects including, • Parks projects (Imperial Park, Lost Creek, Oyster Creek, …) • First Colony Mall, U of H, Town Square, US 59, Various Econ Dev projects…. • 4A funds - CANNOT be used to fund City operations

  16. Ballot Proposition • Two Elements • Expansion of existing authority of 4A • Venue Taxes • Four Ballot Propositions • Two for 4A • Two for Venue Taxes

  17. Previous Expansion of 4A Corp • In 1998 Sugar Land voters approved expansion of 4A Corporation’s Authority to undertake US 59 Expansion.

  18. 4A Corporation • If passed, the propositions WOULD expand the authority of an existing tool to be able to use as a funding source for Cultural/Entertainment District • If passed, the proposition - WOULD NOT • increase sales tax rate or • impact residents property taxes

  19. Venue Taxes • Ticket Tax of up to 10% face value of the tickets sold in the Cultural / Entertainment District • Parking Tax of up to $3.00 per car. Would apply only to parking in the Cultural / Entertainment District • 2% Increase in Hotel Occupancy Tax Rate. Rate would increase from current 7% to proposed 9%. Would apply to all hotel rooms rented in Sugar Land

  20. Ballot Propositions - 4A Corp • Two Propositions • Proposition A – Minor League Baseball • Proposition B – Indoor Concert Venue and Festival site

  21. Ballot Propositions – Venue Taxes • Two Propositions • Proposition C – Minor League Baseball • Proposition D – Indoor Concert Venue and Festival site

  22. Election Dates • Mon 10/20 – 1st Day Early Voting in Person • Sat 10/25 – Wknd Early Voting in Person • Tue 10/28 – Last Day to apply for mail ballot • Fri 10/31 – Last Day Early Voting in Person • Tue 11/4 – ELECTION DAY

  23. Questions