Church Street Marketplace FY 17 BUDGET PRESENTATION

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Clare Watkins
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1 Church Street FY 17 BUDGET PRESENTATION

2 About the Church Street Our Mission = Safe, Clean & Fun To provide responsible management leading to an economically successful downtown which is vibrant, clean and safe, for the benefit of the fee payers, community members and visitors

3 About the Church Street Church Street District -- a Business Improvement District -- Church Street between Pearl and Main Streets. Created in Property Owners pay an additional tax ( common area fee ) that funds 70% of Church Street Department s operations on the public right of way Church Street District Commission -- appointed by City Council to set policy, recommend annual common area fee Church Street Department -- City department responsible for managing the Church Street District

4 Mayor Weinberger Church Street Department City Council Church Street District Commission Executive Director Working Foreman, FT - Maintenance Marketing Assistant FT - Marketing, Administration, Licensing Maintenance Worker, FT Maintenance Worker, FT Maintenance Worker, FT * No Staffing Changes Planned for FY 17

5 Highlights of FY Sales versus 2014 Sales (Retailers) 65% Sales were UP 13% Sales were EVEN 22% Sales were DOWN Secured corporate sponsorships with Citizens Bank as 2016 Winter Lights Sponsor; Magic Hat as new sponsor for 2016 Summer Lights Program; Stowe Mountain Resort confirmed a new 3-year deal. Seeking new holiday sponsor. Privately funded Church Street s first public WEBCAM

6 Highlights of FY 16 Last June, launched Wi-Fi System, providing CSM merchants and restaurateurs with daily pedestrian counts Holiday Direct Mail campaign reached 25,000 Chittenden County households with 8% return. More direct mail planned for FY 17. This May, began surveying downtown businesses re: interest in an expanded District. From June-August, property and business owners will be asked to define services and costs. Recommendations to be presented to CSM Commission and Mayor in September.

7 Highlights of FY 16 Successfully launched new street entertainer rules and regulations. Outcome: fewer performers, higher quality performances, more income generated per performer. Launched first Trick or Treat Street Halloween event Replaced16 trees, added 10 backless benches via funding from City s capital budget. Findings of CSM business survey re: Church Street s smoking ordinance: 1) Fewer people smoking on Church St; increase on side streets 2) Exposure to Second Hand Smoke reduced. 3) Fewer cigarette butts on Church Street. 4) More BPD enforcement needed; signage needs improvement.

8 Progress on reducing negative fund balance Negative Fund Balance, End of FY 13 ($ 235,815) End of FY 14 ($ 147,109) End of FY 15 ($ 105,469) End of FY 16 ( + / - $ 5,000) * FY 17 project $50K surplus for capital expenses

9 How is Church Street Funded in FY 17?

10 Proposed FY 17 Revenues Account Description 2017 Requested % Common Area Fees $ 702, % Sidewalk Cafe Fees $ 101, % Donations Corporate $ 90, % Cart Vendors $ 36, % Rent & Lease $ 28, % Advertising Revenues $ 19, % Fees For Services $ 13, % Interfund Transfer Proceeds $ 11, % TOTAL REVENUES $1,001,974.00

11 FY 17 Proposed Operating Budget 2014 Actual Amount 2015 Actual Amount 2016 Amended Budget 2017 Department Requested REVENUES Admin $790, $827, $858, $868, Public Relations $122, $115, $123, $122, General Maintenance $11, $11, $11, $11, REVENUE TOTALS $924, $954, $992, $1,001, EXPENSE Admin $291, $266, $267, $282, Public Relations $210, $302, $325, $351, General Maintenance $333, $343, $324, $315, EXPENSE TOTALS $835, $912, $917, $950, REVENUE GRAND TOTALS $924, $954, $992, $1,001, EXPENSE GRAND TOTALS $835, $912, $917, $950, Net Grand Totals $88, $41, $75, $51,607.00

12 FY 17 Proposed KEY Revenue Increases

13 Proposed FY 17 Fee Increases Common Area Fee FY 16 FY 17 2 % increase overall $ 2.84 $ 2.90 Anchor Properties $ 2.70 $ Church (Burlington Town Center) (95% of $2.84) (97.5% of $2.90) Church (Outdoor Gear) Burlington Town Center Common Area Fee Proposed increase between FY 16 and FY 17: $ 3,151 Outdoor Gear s Common Area Fee Proposed increase between FY 16 and FY 17: $ 2,470

14 Top Fiscal Challenges FY 16 to 17 Paying down negative fund balance so that we can begin building up a capital reserve. Delivering meaningful services to Church Street fee payers while simultaneously reducing operating expenses to pay down department s negative fund balance Reducing reliance on common area fee (today, represents 70% of operating revenue). Must keep street affordable for locally-owned businesses! Working with City and Commission to find realistic solutions to funding operations and capital improvements. (Who pays for what, when it breaks!)

15 FY 16 Top Financial Goals Begin building capital reserve in FY 17. Redirect additional revenues for marketing & promotion. Keep Common Area Fee affordable so locally-owned stores & restaurants aren t edged out by national stores.

Church Street Marketplace District Commission Meeting Minutes June 21, 2017

Church Street Marketplace District Commission Meeting Minutes June 21, 2017 CSM Commissioners present: Jeff Nick, Lorre Tucker, Buddy Singh, Linda Magoon, Phil Merrick, Lara Allen. CSM Staff present: Ron