NYS Olympic Regional Development Authority Board Meeting September 18, 2012

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1 NYS Olympic Regional Development Authority Board Meeting September 18, 2012 Present: Excused: Also Present: Introduction: Agenda: Pat Barrett, Chairman Serge Lussi Joseph Kelly Roseanne Murphy, DED Harold Hagemann OPRHP Chris Walsh, DEC Bob Flacke John Parete Jerry Strack Ed Weibrecht Cliff Donaldson Ted Blazer, ORDA President/CEO Padraig Paddy Powers, Director ORDA Finance Emily Sanders, Bonadio Group Leslie Karasin, Wildlife Conservation Society The presiding Chairman thanked everyone for coming and called the meeting to order at 1:33 P.M. The Chairman welcomed two new Board Members from Bellayre, 2 nd Vice Chair Joe Kelly and John Parete. The Chairman then asked for a roll call to confirm a quorum was present. The Chairman stated that an agenda is included in the board packet and asked if anyone would like to add any additional items to the agenda. The agenda was approved as presented. The Chairman acknowledged and thanked Andrew Kennedy from Governor Cuomo s office and Dan Stec, Chairman of the Warren County Board of Supervisors for attending. Minutes: Chairman: On a motion by Jerry Strack, seconded by Ed Weibrecht, the minutes of the Board of Directors Meeting held on June 19, 2012, were approved. The Chairman asked Ted to give the President s Report

2 President s Report: Ted thanked everyone for attending then reviewed the following: Summer operations o Ahead of last year by 250k. (+11.6% visitation). Making good progress at tackling the losses from last ski season. ($1,100m - $2.8m w/o $1.7) o Skating programs and our outdoor activities did well this summer due to the fine weather. o Gore added new activity equipment to coordinate with the Train service. 1 st year is going well. o ORDA staff, led by Mike Pratt and Tony Carlino, have made multiple trips to Belleayre to work on capital projects, operations, marketing, IT, finance, payroll, H/R and have been given information on ORDA policies and procedures. Planned events this fall o Oktoberfest at Whiteface o Flaming Leaves at the Ski Jumps o Beer Fest at the Conference Center o Harvest Fest at Gore o Fall Festival at Belleayre Marketing plans o Canada All summer have had presence at various festivals and events in Canada: Nascar, Formula One, Burlington Ontario Music Festival, Just For Laughs Festival. For winter looking for similar dynamic marketing as last year with street team, digital mobile advertising, and projection advertising, this is supported by traditional media television, radio, print. o Rossignol Promo 60 different ski shops in NY, Ottawa, Montreal, PA have a Rossignol/Whiteface presence o Gore only- 4 packs to weatherproof the season (sun-fri non holiday) o Ski Shows - Whiteface/Gore already on the road Belleayre is also working out a schedule to start getting back to these. o Coke Sponsorship Whiteface / Gore message promoted throughout NY metro and northern NJ on 200,000 coke ringers and point of sale signage at Walgreens and Hess stations. o Pricing Strategy Gore/Whiteface are instituting pricing strategies to better target customers - at Gore to boost Mon- Wed skiing / at Whiteface to lock in advance purchases thru online sales. o Snow East Magazine Whiteface Lake Placid #1 Ski Destination. Belleayre #1 in Favorite Classic Resorts o Communications will host 3 media days at Whiteface coming up in attendance will be New York State, New England, Canadian media.

3 o Media Night New York City with I Love NY s PR firm, Ski Areas of NY and Interstate 87 Ski Areas will again have nearly 100 media outlets attend to hear plans for the upcoming winter o Working with Belleayre staff on promotions, strategy and ski show presence. They are now again part of Ski Areas of NY Conference Center o Google Earth Street view o Saratoga Eagle coming for 3 days in late November with 40 people o Parties, seminars, meetings and special occasions continue to be booked 2013 o NYS Snowmobile Association 650 o NYS Rural Water Association 300 o Outdoor Writers Association 500 o CSEA Annual Delegates o Lions 800 o NY Medical Management Assoc 150 o Working on huge Conference for 2017 using entire complex. Upcoming major winter events o World Cup Bobsled o World Cup Skeleton o World Cup Luge o NCAA Division I Hockey Festivus o World Cup Freestyle o Lake Placid Loppett o Eastern Synchronized Skating (2300 athletes) o Empire State Games o NOR Am Biathlon o NYC parks (Central Park Skiing) o NCAA Division III Hockey o Multiple trails at Gore FIS and USSA homologated o Secured ECAC Hockey for 2014 for 3 years

4 Old Business: Financial Report- Emily Sanders of the Bonadio Group presented the financial report for the period ending July 31, OLYMPIC REGIONAL DEVELOPMENT AUTHORITY FINANCIAL REPORT FOR THE FOUR MONTHS ENDED JULY 31, 2012 PRESENTED BY EMILY SANDERS, CPA - THE BONADIO GROUP COMPARISON OF REVENUES AND EXPENSES-FOUR MONTHS ENDED 07/31/12 vs. 07/31/11 Total operating revenues are $182,824 higher than last year. Arena snow sports, skating and activities are up $233,400 due to additional events and skating programs throughout the summer, and other revenue is up $142,500 due to a large increase in marketing and advertising revenue. Although there has been growth in many areas tour packages were down from last year nearly $90,000. Personal services expense (before capitalized labor) YTD is up $82,000 from last year, but this increase can be directly attributed to a $56,000 increase in worker s compensation expense and an $88,000 increase in health insurance costs. Conversely, actual payroll costs including management confidential employees, hourly employees, and overtime have decreased from last year. Total non-personal service expenses, excluding depreciation, are $436,500 lower (18%) than last year at this time. The most significant decrease was supplies and materials ($196,500), but all expense categories are lower than this time last year as there has been a focus on reducing costs where possible this summer. Through July 2012 there is an operating loss before depreciation of $3.687m vs. an operating loss of $4.426m through July 2011, a positive variance of $739,600. This is also stated prior to State and Town appropriations totaling $4.0m. Net non-operating income is $1.284 higher than last year due to the need to appropriations earlier in the season to cover operation expenses from the poor ski season/winter conditions. Interest expense is lower than previous year by $28,000. COMPARISON OF REVENUES AND EXPENSES BUDGET TO ACTUAL Total operating revenues are $274,000 over budget, due in part to large increases in sponsorships and other revenue areas including marketing and advertising. Personal service expense, before capitalized labor, is $90,000 over budget due much in part to higher than expected worker s compensation expenses (accounting for $73,000 over budget figures).

5 Non-personal service expenses are $360,000 under budget. Event expense is the largest item under budget at $170,000, while travel and communications is also down $61,000. Net loss from operations, before depreciation, is $3.687 as of July 2012 which is a positive variance of $658,000 against budget. STATEMENT OF CASH FLOWS Operations used cash of $665,000 YTD. Much of this negative cash balance can be attributed to large accounts payable balance that accrued as a result of the slow winter. Investing and capital activities provided cash of $1.333m much of which is grant money received in advance of being spent. Financing activities used cash of $3.530m YTD due to the repayment of the line of credit in order to increase the overall line and reduce the interest rate with a new lender (First Niagara). The line of credit has not been borrowed against. On a motion by Ed Weibrecht, seconded by Serge Lussi, the Board approved the financial report. Report by Leslie Karasin from the Wildlife Conservation Society on Bicknell s Thrush Habitation Fund: The Bicknell s is a migratory songbird living in Haiti/Dominican Republic part of the year when not in the Eastern high forests. They are a rare species. Out of concern for adverse effects on the Bicknell s concerned groups bonded together to find funding to work with people in Hispanola to mitigate adverse habitat conditions. (DEC, ORDA, APA and 5 not for profit partners) Working with Adirondack Trust they are working to increase funds. RFP for conservation work 4 proposals to begin to protect the habitat. Leslie complimented ORDA and staff for our participation to protect the Bicknell s. New Business: Utilizing a power point presentation Ted Blazer then gave an update that covered the following areas: Highlights of Whiteface improvements include: snowmaking on Hoyts High, a new snow cat, improvements to Base Lodge food and bar areas, new flooring in Base Lodge, additional snowmaking equipment, lift G rehabilitation, Memorial Highway repairs

6 Highlights of Gore improvements include: new snow cats, base lodge food and beverage upgrades, summer recreational equipment, new ticketing system, additional snow cats, new patio, snowmaking upgrades Highlights of Olympic Sports Complex, Olympic Jumps and Olympic Center include: Lamy Lodge roof replacement, cross country lodge repairs, new PB 100 snow cat, new roller loop at Jumps, roof repair Olympic Center, Locker room rehabilitation and finalization of 1932 Rink facade rehabilitation. At Belleayre, new lodge flooring was added, 2 new snow cats, new efficient snow making guns, scanning system for tickets, fireplace installation in Discovery Lodge, snowmaking line upgrades, misc. trail and lodge repairs. o Mike Pratt, Tony Carlino and key departmental staff have been assisting with the transition. Ted explained the cost of the snow cats ($260k for a PB 400, $260k for a PB 600 Winch and $320k for a PB 600). ORDA utilized funds from NY Works for summer projects as well as left over funding from ESD as well. Center Plate contributions assisted with interior lodge upgrades. The Roller Loop received joint funding from USOC, ORDA and a private sponsor. Chairman: At 2:28pm asked for a motion to go into Executive session to discuss contract matters. At 2:52pm on a motion by Serge Lussi, seconded by Jerry Strack the Board went into Regular Session. Chairman: We will now proceed with the Resolutions New Business: Resolutions: Resolution #267 Resolution #268 Resolution #269 On a motion by Ed Weibrecht, seconded by Bob Flacke the board adopted resolution #267 Revision of By-Laws On a motion by Jerry Strack, seconded by Ed Weibrecht the Board adopted Resolution #268 Approving (DEC) Belleayre- ORDA Transfer On a motion by Jerry Strack, seconded by Ed Weibrecht the Board adopted Resolution #269 Approving Memorial Highway Grant

7 The Chairman asked if there were any further comments or business and there being none asked for a motion to adjourn. Adjournment: On a motion by Joe Kelly, seconded by Ed Weibrecht, the meeting of the Olympic Regional Development Authority Board of Directors was adjourned at 2:55 P.M. Respectfully submitted by Mary M. Stanton, Secretary to the Board

NYS Olympic Regional Development Authority Board Meeting December 14, 2010

NYS Olympic Regional Development Authority Board Meeting December 14, 2010 Present: Excused: Also Present: Introduction: Agenda: Minutes: Chairman: President s Report: Joe Martens, Chairman Serge Lussi