HomeMy WebLinkAboutItem 5g. Authorize Grant Funding for San Luis Obispo Repertory Theatre Item 5g
Department: Administration
Cost Center: 1005
For Agenda of: 4/19/2022
Placement: Consent
Estimated Time: N/A
FROM: Greg Hermann, Deputy City Manager
Prepared By: Robert Hill, Sustainability & Natural Resources Official
SUBJECT: AUTHORIZE GRANT FUNDING FOR SAN LUIS OBISPO REPERTORY
THEATRE
RECOMMENDATION
1. Approve grant funding in the aggregate amount of $3,940,000 for construction of
the San Luis Obispo Repertory Theatre’s new downtown theatre ; and
2. Authorize the City Manager to execute a Grant Agreement between the San Luis
Obispo Repertory Theatre and the City of San Luis Obispo, California, in a final
form satisfactory to the City Attorney.
DISCUSSION
Background
The San Luis Obispo Repertory Theatre (“SLO REP”), previously known as the San Luis
Obispo Little Theatre, has been a long-standing tenant of the City’s old library property at
888 Morro Street, located next door to City Hall. SLO REP first began to set forth a vision
for a new 300-seat community theatre in the early 1990s. In March 2000, the City Council
identified several options for such a theatre within what would become known as the
Cultural Arts Parking Structure site located at the corner of Palm and Nipomo Streets and
committed to working with SLO REP.
SLO REP has now become a strong community pa rtner and local non-profit, including
building a strong Board and governance structure, establishing a professional staff and
increased theatre offerings, and implementing a significant capital campaign in
anticipation of the design, construction, and operating costs associated with the long-
planned move to a new location.
Page 171 of 1192
Item 5g
On May 22, 2019, the City and SLO REP entered into an Exclusive Negotiating
Agreement (“ENA”) to set the parameters and conditions for SLO REP’s long-term use of
a portion of the City property for construction and operation of a new Downtown Theatre
(“Downtown Theatre”) where the Cultural Arts Parking Structure will also be located. Key
deal points of the ENA include: 1.) SLO REP completing a fundraising plan and proof of
financial ability to complete its project, and 2.) the City completing a rezone of the property
and an Environmental Impact Report for both projects. It is anticipated that the ENA will
be replaced by a long-term lease when SLO REP can provide evidence of available
funding for the new theatre, as further detailed in the ENA.
Since entering into the ENA in 2019, SLO REP has diligently and successfully pursued
its capital campaign fundraising objectives, as well as design and engineering for the new
theatre. Despite the challenges associated with the COVID -19 pandemic, SLO REP
continued to work with major donors, several of whom are reported to be poised to make
substantial gifts towards the new theatre project. Recent professional cost estimates,
however, reveal that construction costs have risen significantly during this same time
period, leading SLO REP to make revisions to their project and overall programming
strategy, as well as further engage with the City in furtherance of shared goals and
objectives.
Previous Council Action
On January 25, 2022, SLO REP submitted to the City Council a formal “Challenge Grant”
request for funding in the amount of $3,940,000 towards construction of the new
Downtown Theatre project (Attachment B). At its regularly scheduled meeting on
February 15, 2022, the City Council appropriated the requested funding as part of the FY
2021-2022 Mid-Year Budget Review, with the understanding that the subject Grant
Agreement would follow for Council review shortly thereafter.
Key Highlights of the Grant Agreement
The Grant Agreement includes the following key deal points and structure, consistent with
prior direction from the City Council:
1. Grant funding in the aggregate amount of $3,940,000.
2. SLO REP must meet a series of conditions precedent to funding, including
raising and first utilizing all other necessary funds to complete the project,
execution of a long-term lease for the property on which the new theatre will be
constructed, and obtaining all required building permits and project entitlements.
3. Grant funds may be used for direct construction costs at the new Downtown
Theatre only.
4. Grant funds will be disbursed only on reimbursement basis upon submittal of
satisfactory invoices.
5. SLO REP shall submit quarterly progress reports to the City.
Page 172 of 1192
Item 5g
Policy Context
SLO REP’s long-standing plans for construction of a new Downtown Theatre are
consistent with the City’s Downtown Concept Plan (2017) and the “Economic Recovery,
Resiliency & Fiscal Sustainability” Major City Goal specified in the City’s 2021-23
Financial Plan.
Public Engagement
SLO REP’s Challenge Grant Request was considered as part of the FY 2021-2022 Mid-
Year Budget Review at the City Council’s regularly scheduled and noticed meeting. The
contractual arrangements specified in the Grant Agreement are considered a matter of
routine City business in order to carry out City Council’s budget priorities, however, any
member of the public may provide comments addressing this item.
CONCURRENCE
The City’s Public Works Department and Community Development Department have
offered their concurrence with the recommended action.
ENVIRONMENTAL REVIEW
Entering into the subject Grant Agreement is not considered a project, in and of itself,
under CEQA Guidelines Section 15378. However, the City completed environmental
review as lead agency for both its Parking Structure and the Downtown Theatre and
certified a Final Environmental Impact Report by Resolution No. 10923 (2018 Series).
FISCAL IMPACT
Budgeted: Yes Budget Year: 2021-22
Funding Identified: Yes
Fiscal Analysis:
Funding
Sources
Total Budget
Available
Current
Funding
Request
Remaining
Balance
Annual
Ongoing
Cost
General Fund $3,940,000 $3,940,000 - -
Total $3,940,000 $3,940,000 - -
Page 173 of 1192
Item 5g
The City Council appropriated the requested funding of $3,940,000 as part of the FY
2021-2022 Mid-Year Budget Review. The Grant Agreement, if approved, has been
prepared to facilitate the disbursement of the funds in a manner that is protective of the
City’s interests by ensuring that grant funds would only be disbursed once all conditions
precedent to funding have been met, and thereafter on a reimbursement basis upon
submittal of progress invoices for work performed.
Modest staff time from City Administration will be necessary to continue serving as a
liaison to SLO REP and to oversee the administration of the Grant Agreement, as well as
from the Public Works Department to ensure that the City’s parking structure and SLO
REP’s new theatre are well-coordinated and to assist in reviewing invoices and progress
reports from SLO REP as needed.
It is also noteworthy that, once fully operational, SLO REP anticipates that the new
Downtown Theatre would offer 324 shows per year on 176 dates, generating a local
economic impact of more than $3 million annually while drawing 50,000 patrons to
downtown San Luis Obispo each year, as further detailed in the Challenge Grant
Request.
ALTERNATIVES
1. Council could request changes to the terms and conditions of the Grant Agreement.
2. Continue the item with specific direction if more information or discussion time is
required before taking action.
ATTACHMENTS
A - Draft SLO Repertory Theatre Grant Agreement
B - Challenge Grant Funding Request from SLO REP
Page 174 of 1192
GRANT AGREEMENT
SAN LUIS OBISPO
REPERTORY THEATRE
This agreement dated ____________________________ is between SAN LUIS OBISPO
REPERTORY THEATRE, a California non-profit corporation (“SLO REP”) and CITY OF SAN
LUIS OBISPO, a California Municipal Corporation and Charter City (“CITY”) (the “Grant
Agreement”) with reference to the following:
WHEREAS, SLO REP and CITY previously entered into an Exclusive Negotiating Agreement
(the “ENA”) on May 22, 2019, that identified a mutual interest in the development of a new theatre
site, to be leased by SLO REP, and a new City parking structure to be located on CITY property,
together with obligations to be performed by both CITY and SLO REP and recitation of conditions
precedent for purposes of SLO REP entering into a long-term lease with CITY for a portion of
CITY’s property; and
WHEREAS, SLO REP issued a written Challenge Grant Request to the City Council dated January
25, 2022, that set forth a rationale and basis for SLO REP’s request of CITY to contribute to the
construction of its new downtown theatre project (the “Downtown Theatre”), to be located at the
corner of Palm Street and Nipomo Street, San Luis Obispo, and contiguous with CITY’s planned
Cultural Arts District Parking Structure (“Parking Structure”); and
WHEREAS, at its regularly scheduled meeting on February 15, 2022, the City Council
appropriated $3.94 million, as requested by SLO REP, as part of its approval of the FY 2021-2022
Mid-Year Budget Review; and
WHEREAS, CITY’s financial support towards construction of the Downtown Theatre to be leased
and used by SLO REP is intended to be a challenge grant that will serve to motivate and catalyze
other funders and donors in furtherance of SLO REP’s overall capital campaign and fundraising
goals for the construction of the Downtown Theatre site development; and
WHEREAS, the new Downtown Theatre will ultimately be available to both residents of the City
and visitors alike, thereby serving public purposes in furtherance of CITY’s goals for facilitating
both arts and cultural amenities, as well as contributing to a thriving and prosperous downtown
area through economic development activities, and
WHEREAS, SLO REP’s long-standing plans for construction of a new Downtown Theatre are
consistent with CITY’s Downtown Concept Plan (2017) and its “Economic Recovery, Resiliency
& Fiscal Sustainability” Major City Goal specified in the 2021-23 Financial Plan, and
WHEREAS, CITY completed environmental review as lead agency for both the development of
the Parking Structure and the Downtown Theatre and certified a Final Environmental Impact
Report by Resolution No. 10923 (2018 Series).
NOW, THEREFORE, CITY and SLO REP for and in consideration of the mutual benefits,
promises and agreements set forth herein, do agree as follows:
Page 175 of 1192
2 | P a g e
1. Construction of the Downtown Theatre
On or before the date that is ten (10) years following the execution of this Grant Agreement,
SLO REP shall complete construction of the Downtown Theatre. SLO REP’s failure to
comply with this term may result in amendment, provided substantial progress or
extenuating circumstances can be documented, or termination of this Agreement as
provided herein.
2. Grant Amount and Allowed Expenses
City agrees to pay SLO REP a one-time only grant in installments as provided in Section 4,
the aggregate sum of $3,940,000 (“Grant Funds”), to be used towards the construction of the
Downtown Theatre, subject to the conditions set forth herein. The Grant Funds shall only be
used for Eligible Costs directly related to construction of the Downtown Theatre as specified
below.
CITY’s Grant Funds may only be used for direct construction costs defined as contractor
expenses for labor, project management, material, equipment, utilities and other direct
construction costs ("Eligible Costs"). Payments for “soft” costs are not Eligible Costs and
shall not be paid from CITY Grant Funds. “Soft” costs are expense items that are not
considered direct construction costs such as architectural and engineering expenses or project
fees associated with the project. If there is a dispute about whether a project cost is an Eligible
Cost, CITY shall have final determination of whether the cost is an Eligible Cost.
SLO REP acknowledges that construction of the Downtown Theater is subject to payment
of prevailing wages on the entirety of the project due to the City’s contribution of funding to
the project and that such obligation will be expressly conveyed by SLO REP to and will be
binding on any covered contractor engaged to perform work on the Downtown Theatre
project.
3. Conditions Precedent to Funding
SLO REP shall satisfy the following required conditions prior to any disbursement of Grant
Funds by CITY. With respect to any requested reimbursement, SLO REP shall:
a. Maintain its 501(c)(3) non-profit status.
b. Shall secure all other grant funds, donations, pledges, or financing necessary to
complete construction of the Downtown Theatre, inclusive of the amount of Grant
Funds provided by the CITY pursuant to this Grant Agreement, and shall first utilize
(or provide for first utilizing) all other grant funds, donations, or financing then
available (collectively “Other Available Funding”) for the construction of the
Downtown Theatre prior to any request for reimbursement from CITY. However,
SLO REP’s initial reimbursement request for Grant Funds may be made prior to
complete exhaustion of Other Available Funding, as necessary, to ensure continued
availability of funding to complete construction of the Downtown Theatre in
conformance with the construction schedule to be provided under Section 3(e) and the
schedule of values to be provided under Section 3(f). However, in no instance shall
reimbursement requests for CITY’s Grant Funds exceed the estimated value of
completed improvements.
Page 176 of 1192
3 | P a g e
c. Continue to adhere to all of the requirements of the ENA, attached hereto as Exhibit
A and hereby incorporated by reference, until such time as a long-term lease is
entered into with CITY, as contemplated by the ENA. Once the long-term lease is in
place, SLO REP shall abide by all lease terms and conditions.
d. Have secured all necessary project entitlements and building permit(s) for
construction of the Downtown Theatre that may be applicable as further described in
Paragraph 6, below.
e. Have submitted to the Public Works Director’s reasonable satisfaction a critical path
construction schedule that includes all Downtown Theatre project-related tasks, and
thereafter update this critical path construction schedule and furnish the same to the
City on a quarterly basis (4 times a year) until construction is complete and a
certificate of occupancy for the Downtown Theatre is furnished.
f. Submit to the Public Works Director's reasonable satisfaction a “schedule of values”
for items of work the general contractor will thereafter be completing. Identify in the
schedule of values each of the items that are proposed to be funded, and when, by
CITY Grant Funds.
4. Reimbursement Requests
Upon satisfaction of the conditions identified in Section 3, reimbursement payment requests
for Eligible Costs identified in the construction schedule required pursuant to Section 3(e)
shall be submitted to CITY’s Deputy City Manager. Reimbursement payment requests shall
include supporting documentation including contractor invoices and the most current
building inspection documentation available at that time, as well as a statement that the
construction work progress has been accepted by SLO REP. Reimbursement payment
requests may be submitted on a bi-monthly (twice per month) basis and will be reviewed
and approved for reimbursement by the CITY in a timely manner, and CITY will make best
efforts to process and pay reimbursement requests within fifteen (15) business days from
the date of such payment request, provided that sufficient documentation supporting the
reimbursement request is provided to CITY. Sufficiency of payment documentation shall
be in the sole but reasonable discretion of the CITY and CITY reserves the right to request
and receive additional reasonable documentation to support SLO REP’s reimbursement
requests and as may be appropriate to aid in City’s determination of whether the requested
reimbursement payment is for an Eligible Cost.
5. Construction at Other Sites
If SLO REP determines that construction of the Downtown Theatre at the specified site is
impractical or inadvisable for any reason, then SLO REP may not use the Grant Funds for
any other purpose without prior written approval of the City Council.
6. Permits
SLO REP shall apply for and obtain all necessary building and other related permits and
project entitlements necessary to construct the Downtown Theatre in conformance with
local, state, and federal laws. This Grant Agreement does not authorize the construction of
the Downtown Theatre or otherwise alter or impact the exercise of the City’s independent
regulatory and land use authority.
Page 177 of 1192
4 | P a g e
7. Funding Source Recognition
SLO REP will ensure recognition of the role of CITY in providing funding through this
Grant Agreement. CITY shall be identified as a funding source in all applicable
publications, press releases, social media outreach and similar fundraising promotions.
8. Amendments
CITY and SLO REP may amend this Agreement at any time provided that such
amendments make specific reference to this Grant Agreement, and are executed in writing,
signed by a duly authorized representative of each organization, and approved by the City
Council. Such amendments will not invalidate this Agreement, nor relieve or release either
CITY or SLO REP from its obligations under this Grant Agreement, except as expressly
provided in writing in any such duly executed amendments.
9. Quarterly Reports and Financial Assurance
The SLO REP shall provide quarterly reports on both Downtown Theatre construction
project progress including the use of CITY Grant Funds. These reports shall be due at the
end of the first month after the end of the calendar quarter (i.e. January, April, July, and
September) and submitted to the Deputy City Manager. The quarterly reports should
include percentage of construction completion, other available funding on hand or then
receivable, and work anticipated to be completed in the following quarter. CITY reserves
the right to request and receive copies of invoices, account statements, or audits of SLO
REP’s financial records pertinent to the Downtown Theatre’s construction and in CITY’s
sole discretion, to withhold reimbursement payments until satisfactory reports and
supporting documentation are received.
10. Assignability
The SLO REP shall not assign or transfer any interest in this Grant Agreement without the
prior written consent of the City Council.
11. Conflict of Interest
No member of the CITY’s governing body and no other public official of such locality, who
exercises any functions or responsibilities in connection with the planning or carrying out
of the Downtown Theatre project, will have any personal financial interest, direct or
indirect, in this Grant Agreement; and the SLO REP will take appropriate steps to assure
compliance.
SLO REP agrees to abide by the provisions of 24 CFR 84.42 and 570.611, which require in
part, that SLO REP to maintain a written code or standards of conduct that will govern the
performance of its officers, employees or agents engaged in the award and adminis tration
of contracts supported by Federal funds.
12. Severability
If any provision of this Grant Agreement is held invalid, the remainder of the Grant
Agreement will not be affected thereby and all other parts of this Grant Agreement will
nevertheless remain in full force and effect.
Page 178 of 1192
5 | P a g e
13. Entire Agreement
This Agreement constitutes the entire agreement between CITY and SLO REP for the use
of funds received under this Grant Agreement and shall supersede all prior communications
and proposals, whether electronic, oral, or written between CITY and SLO REP with
respect to this Grant Agreement.
14. No Agency or Employment
The SLO REP is solely responsible for all activities supported by this Grant Agreement.
Nothing in this Grant Agreement creates a partnership, agency, joint venture, employment,
or any other type of relationship between SLO REP and CITY. SLO REP shall not represent
itself as an agent of CITY for any purpose, and has no authority to bind CITY in any manner
whatsoever. SLO REP and all of its agents, representatives, or participants in any manner
in the performance of its obligations and duties hereunder, shall be employees, independent
contractors, or volunteers solely of SLO REP. They shall not for any purpose be considered
employees or agents of CITY.
15. Indemnification
The SLO REP agrees, to the fullest extent permitted by law, to defend, indemnify, and hold
harmless CITY its officers, directors, affiliates, employees, and agents (“City
Indemnitees”), from and against any and all claims, liabilities, losses and expenses
(including reasonable attorney’s fees) directly, indirectly, wholly or partially arising from
or in connection with any act or omission of SLO REP, its employees or agents, in applying
for, accepting, or use of the Grant Funds, or in carrying out the Downtown Theatre project
as set forth. In the event the City Indemnitees are made a party to any action, lawsuit, or
other adversarial proceeding arising from SLO REP’s performance under this Grant
Agreement, SLO REP shall provide a defense to the City Indemnitees or at the City’s option,
reimburse the City Indemnitees their costs of defense, including reasonable legal fees,
incurred in defense of such claims.
16. Termination
The City Manager may, within his or her reasonable discretion, initiate termination of this
Grant Agreement in the event of any material breach of the terms of this Grant Agreement
by SLO REP. Material breach includes breach of Sections 1-7, 9 and 15 of this Grant
Agreement, but does not include minor delays in reporting or other delays in obligations set
forth herein caused through no fault of SLO REP as well as administrative or clerical errors
made in good faith. Upon the City Manager’s written notice of breach, SLO REP shall have
forty-five (45) calendar days to cure any such breach (the “Notice of Breach”). Should SLO
REP fail to cure, or provide documentation of substantial progress towards curing such
breach within forty-five (45) calendar days of the date of the Notice of Breach, the City
Manager shall provide written notice of termination of this Grant Agreement (the “Notice
of Termination”). Said termination shall be effective thirty (30) calendar days after the City
Manager mails the Notice of Termination to SLO REP. Any remaining Grant Funds in
excess of then unpaid Eligible Costs, as defined in Section 2, actually incurred as of the date
of notice of termination shall revert to CITY upon the effective date of termination.
17. Notices
For purposes of notice under this agreement, all notices shall be considered effective upon
being sent by certified mail to the following addresses:
Page 179 of 1192
6 | P a g e
CITY:
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93401
Attn: City Manager
SLO REP:
San Luis Obispo Repertory Theatre
888 Morro Street
San Luis Obispo, CA 93401
Attn: Managing Artistic
Director
CITY OF SAN LUIS OBISPO, A MUNICIPAL CORPORATION
By:
Derek Johnson, City Manager
SAN LUIS OBISPO REPERTORY THEATRE, A CALIFORNIA NON-PROFIT
CORPORATION
By: ___________
Kevin Harris, Managing Artistic Director
APPROVED AS TO FORM:
By:
J. Christine Dietrick, City Attorney
Page 180 of 1192
San Luis Obispo Repertory Theatre
Challenge Grant Request • January 2022
“Books are read and movies are watched, but plays are felt.
In SLO REP’s new theatre, the plays will touch your soul.”
-Hႇ'DQLHOV$FWRUDQG)RXQGHURI7KH3XUSOH5RVH7KHDWUH&RPSDQ\
Page 181 of 1192
January 25, 2022
Dear Mayor Stewart
and Honorable Councilmembers Christianson, Marx, Pease and Shoresman:
A decade ago, San Luis Obispo Repertory Theatre (SLO REP) eagerly accepted the
City’s request to raise private funds to build a new City-owned theatre on City land
adjacent to the planned Palm-Nipomo parking structure.
From the beginning, the parking structure and the proposed SLO REP Theatre have
been inextricably linked as key components of the Downtown Concept Plan, the
City’s vision to enhance downtown’s historic role as the beating heart of San Luis
Obispo’s rich culture and economy.
With these objectives in mind, we seek your approval of a $3.94 million challenge
grant from one-time funds to assure construction of a new SLO REP Theatre. The
City would own this community asset, with more than 70% of the total project
financed with private funds. This textbook example of a true public-private
partnership would serve many generations to come.
INVESTMENT RATIONALE
Aware of the many worthy demands on City resources, we offer the following
rationale for making this investment:
x This grant would be consistent with the Council’s Major City Goals for 2021-
23 “to engage and expand upon its community partnerships” with additional
focus “on the retention of existing businesses, the recovery of arts and
culture, the vitality of the downtown, and supporting underserved groups and
populations.”
x For a relatively small investment, the City would be able to complete a large,
central piece of its Downtown Concept Plan. For perspective, our challenge
grant request is equal to about 1% of the $387 million slated for City Capital
Improvement Projects in 2022.
x Once fully operational, the new theatre would offer 324 shows a year on 176
dates, generating an economic impact of more than $3 million annually. We
conservatively project that the new venue will draw 50,000 patrons downtown
each year, more than 2.5 times SLO REP’s largest annual audience to date.
(Appendix A –SLO REP Economic Impact Report)
x Completion of this project would enable a tripling of participants in SLO
REP’s educational programming within two years. The Academy of Creative
Theatre (ACT) serves children and teenagers 35 weeks a year with after-
school activities, summer camps, workshops and other enriching curriculum
not readily available in local schools. In our current facilities, ACT has served
300 students annually regardless of their ability to pay. Since at least 2013,
ACT programs have been at capacity with long waiting lists. We have heard
from dozens of parents that ACT gave their children a focus and purpose that
changed their lives.
Page 1Page 182 of 1192
SAN LUIS OBISPO REPERTORY THEATRE y CHALLENGE GRANT REQUEST
x The Council’s Major City Goals states that all city actions “will be viewed through the lens of
the City’s sustainability and DEI efforts.” Toward that goal, this project’s facilities –stages,
rehearsal space and classrooms –will provide much-needed space for SLO REP and other
nonprofits to present multicultural programming and other activities related to diversity, equity
and inclusivity (DEI) at very low cost.
x With completion of the SLO REP project, the City will own a state-of-the-art theatre, with the
private sector bearing the majority of the cost. This venue will be a community asset enjoyed
by hundreds of thousands of residents and visitors for generations to come.
x We share the belief expressed by Resonance, the City’s revitalization and futurist consultant,
that the new SLO REP Theatre will bolster San Luis Obispo’s reputation as an exciting
destination. And, as Resonance noted, the new theatre will help SLO remain strong compared
to its competitive cities set, all of which feature attractive small to medium-scale performance
venues.
x The relocation of SLO REP will make 888 Morro Street available for other civic uses.
A TIMELY CATALYST
We are at an opportune moment for this grant to be a most effective catalyst:
x The downtown core is undergoing fundamental change. Ensuring that we have a thriving
cultural district will help keep downtown’s transformation on track. SLO REP will be a major
anchor.
x The City has managed its resources so well throughout the pandemic that the one-time funds
now available are enough to advance multiple long-lasting improvements for the community.
x Groundbreaking for the garage is imminent. Construction plans for the garage and the theatre
have always been inextricably linked in order to minimize costs and maximize aesthetics.
x SLO REP has already raised more than half the goal initially agreed upon with the City, but
several prospective donors want more assurance that success is achievable before they
commit additional funds. This challenge grant would be a clear statement of City support, and
would significantly boost our fundraising momentum.
We are confident SLO REP can raise $10.4 million in private money, which would be more than
70% of the total project cost, currently estimated at $14.3 million.(Appendix B –Capital
Campaign Gift Range Chart and Timeline)
We are proud to have raised $5.6 million already. Several supporters have told us that they are
especially committed to this project because they believe cultural experiences are a necessity if
San Luis Obispo is to remain a vibrant community. This challenge grant, along with the City’s
generous provision of a build-to-suit site, would ensure that the new SLO REP Theatre could open
in 2027.
Page 2Page 183 of 1192
SAN LUIS OBISPO REPERTORY THEATRE y CHALLENGE GRANT REQUEST
DETERMINED TO SUCCEED
In 2015, initial design plans called for a three-story, 22,000-square-foot theatre that would be owned
by the City and leased to SLO REP for 40 years. It was estimated that the building would cost $8 to
$10 million, paid by private funds. It would house a 200-seat mainstage theatre, an additional 100-
seat “black-box theatre,”rehearsal space, set-construction space, classrooms and offices.
In August 2021, an updated study estimated the project’s cost had ballooned to more than $18
million due to various delays. This price represents a per-square-foot cost that likely would set a
record for downtown construction. This price is also beyond SLO REP’s fundraising capacity.
In grappling with this new reality, we were determined not to abandon the project. We challenged
ourselves to identify creative options that would be less expensive, yet equally impactful.
SLO REP’S TWO-SITE PLAN
On December 8, 2021, the Board approved a “Two-Site Plan,” estimated to cost $14.3 million.
(Appendix C –Two Site Capital Campaign Budget)
This plan presents a clear path toward completing an essential pillar of SLO’s cultural district at
considerably less cost than $18 million. It also provides significantly more functionality and
programming than the $18 million plan. Notably, it will enable SLO REP to exponentially expand its
educational programming at least two years earlier than the original plan.
SITE ONE –DOWNTOWN THEATRE
Adjacent to the Palm-Nipomo parking structure, SLO REP would construct an 11,000-square-
foot, single-story venue containing two performance spaces:
1. A main theatre with at least a 205-seat capacity (compared to the current 100-seat capacity)
and a larger stage than the current Morro Street venue. The added stage space, and a fully
outfitted lighting grid and tech booth, would give SLO REP more flexibility in its choice of
shows, and enable larger casts and expanded scenic elements with state-of-the-art
acoustics and lighting.
2. A “black-box theatre” for staged readings and innovative works, with seating of up to 99
seats. This flexible space will double as rehearsal space and provide opportunities for new
playwrights and up-and-coming actors.
Our team has been working closely with City staff, and we expect this revised design will
substantially conform to the current entitlements.
SITE TWO –3353 EMPLEO STREET
On the site of the former 10,000-square-foot headquarters of People’s Self-Help Housing,
SLO REP would:
o House administrative offices, set-construction facilities, costume storage and activities
needed to produce plays downtown.
o Expand SLO REP’s Academy of Creative Theatre (ACT) educational programming almost
immediately. With the additional classroom and rehearsal spaces, SLO REP could more
than triple the number of participants (from 300 to 1,000) by 2024, with room to grow
thereafter if demand continues on its current trajectory.
Page 3Page 184 of 1192
SAN LUIS OBISPO REPERTORY THEATRE y CHALLENGE GRANT REQUEST
SLO REP has entered into an agreement to acquire the Empleo site from People’s Self -Help
Housing, subject to contingencies. SLO REP’s intended usage at Empleo conforms to SLO City
zoning requirements, according to preliminary review by City staff.
POSITIVE DONOR REACTION
Since the SLO REP Board’s decision on December 8, 2021, to move forward with the Two-Site
Plan, all major donors have been briefed, and all have reacted with enthusiasm. Several donors
have pledged additional major gifts as a way of demonstrating their commitment to meeting the
anticipated terms of a challenge grant. They see investment in SLO REP as an investment in our
community’s future.
As a result, the SLO REP Board remains confident in our ability to raise $10.4 million. The Board
also has reviewed and reaffirmed its confidence in the staff’s projected operating plans once the
project is completed.(Appendix D –SLO REP Annual Operating Budget 2027-2028)
NEXT STEPS
If the City Council supports this request, among the next steps will be lease and challenge grant
discussions, substantial determination on the original entitlements, and corresponding revision to
SLO REP’s current Exclusive Negotiating Agreement with the City.
HITTING THE MARK
Good actors know how to “hit their marks” –to be in the right place at the right time to deliver their
lines with impact.
This project hits the mark for SLO REP. Completion will be a major step toward realizing our
ambitious vision to become a nationally recognized regional theatre.
The project also hits the mark for the City at a time when the downtown core is undergoing
fundamental change. Completion of the new SLO REP Theatre will enhance downtown SLO as a
center for the community’s cultural and social life, a role deeply rooted in the City’s history and
values, and reflected in several City policy documents. With more than 70% of the project’s funding
coming from private donors, the City will have a community asset to be used and enjoyed for
decades to come.
In short, a professional performing arts organization thriving in the heart of a vibrant downtown will
burnish San Luis Obispo's reputation as a great city to live, work and play.
Thank you for your support and consideration. We look forward to celebrating with you in 2027.
Sincerely,
Pam Nichter Kevin Harris
President, Board of Directors Managing Artistic Director
Page 4Page 185 of 1192
APPENDIX A:
SLO REP Economic Impact Report
Page 5Page 186 of 1192
APPENDIX A: SLO REP Economic Impact Report
San Luis Obispo Repertory Theatre’s Board of Directors is unanimously committed to raising at
least $10 million to build a new performing arts venue, which will be comprised of a 200+ seat
mainstage theatre and a 99-seat “black box” theatre.The Board fully appreciates the value of the
City’s offer to provide a site within the proposed Palm-Nipomo-Monterey parking structure for a
new theatre, and expects to conclude a mutually satisfactory lease arrangement with the City.
This new theatre will mark an important milestone in SLO REP’s mission to become a nationally
recognized regional theatre, producing a full season of plays on each of our two stages,
effectively programming two full seasons every year of new and classic plays and musicals,
alongside groundbreaking original works.In addition, our educational programming will greatly
extend its reach. As the anchor to the City’s long-envisioned Cultural District, SLO REP will
reinforce the perception of downtown SLO as a vibrant destination, contributing to growth in
tourism and economic vitality. SLO REP’s 75-year history in the City, and its nearly three decades
in the downtown core, make SLO REP an integral, historic and authentic part of downtown SLO’s
character.
SLO REP has steadily –and credibly –been preparing for raising these funds for more than a
decade. In the past 10 years, SLO REP has undergone a significant transformation from a
community volunteer theatre that teetered on the edge of fiscal failure into a fully professional
theatre that has operated in the black every year, and now has almost a year’s operating funds in
reserve.
As a result of these efforts, SLO REP during the quiet phase of its capital campaign has raised
$5.6 million in cash and pledges toward its $10.34 million capital campaign goal. Several
prospective major-gift donors are in the wings, awaiting more certainty that the City will proceed
with the project. We are optimistic that once the City breaks ground on the site, these donors will
step forward, and SLO REP will be able to launch the public phase of the campaign with more
than 65% of the target already in hand.
SLO REP’s larger, state-of-the-art venue will enable a consistently higher artistic quality that will
contribute to activating the downtown core by attracting new audiences –both residents and
visitorValike –and by providing a viable and vibrant alternative to downtown SLO’s current
entertainment offerings, dominated by restaurants and college-student bars.
In its first full season of operations (2028-2029), the new SLO REP theatre will host 324
performances annually, Wednesday through Sunday. There will be additional weekday,
weeknight and late-night entertainment, providing a diverse portfolio of entertainment offerings
for residents and visitors aVwell as more pedestrian traffic during the day. The Academy of
Creative Theatre, SLO REP’s year-round education program, will more than double in size,
welcoming more than 1,000 young artists to after- school classes, summer camps, and youth
productions.
Page 6Page 187 of 1192
ECONOMIC IMPACT
In projecting SLO REP’s economic impact, we drew from the most recent research on San Luis
Obispo County arts patrons’ spending conducted by Americans for the Arts. These national
and regional studiesare usually completed every five years. However, COVID has delayed the
FY 2020 report, so we are relying on the FY 2015 report, as well as on our own patron data
from our last full season pre-COVID (2018-19.)
According to the FY 2015 report, excluding the price of admission to the event, arts and
cultural audiences in SLO County spent an additional:
Category of Event-Related Expenditure Resident Non-Resident
Attendees Attendees
Meals and Refreshments $13.86 $20.99
Souvenirs and Gifts $5.73 $3.78
Ground Transportation $1.83 $7.69
Overnight Lodging (one night only) $0.79 $32.28
Other/Miscellaneous $1.16 $2.74
Average Event-Related Spending Per Person $23.37 $67.48
Adjusting for inflation since 2015 using the latest Consumer Price Index (August 2021) rate the
adjusted average event-related spending per person increases 15.4% to $26.97 for
Residents, and $77.89 for Non-residents in 2021 dollars.
Based on the data from SLO REP’s last full season (FY 19) the demographic breakdown of
that year’s 18,397 patrons:
SLO County residents: 89%
Non-SLO County residents: 11%
In our planned new venue (master
calendar attached), SLO REP will
produce 324 individual performances
during our first full season (FY 29),
potentially bringing 48,600 patrons to the
downtown core in a 200-seat mainstage
theatre, and up to 56,700 patrons in a
250-seat mainstage theatre.
e
Page 7Page 188 of 1192
Using the inflation-adjusted resident and non-resident patron spending averages from 2015
(adjusting for 2021), and applying a 1.7 Economic Impact Multiplier after consulting with Dr. Cyrus
Ramezani, Chair of the Cal Poly Orfalea College of Business Finance Area who has conducted
economic impact research on the Central Coast, SLO REP projects that the new venue will result in
the following direct spending in downtown SLO:
As SLO REP expands its offerings after its inaugural season, we project that the share of
non-resident Satrons will increase to about 25% of our overall audience within three
years, doubling the direct spending figures from non-county residents.
PROJECTED PARKING REVENUE
Based on:
x 2021 parking structure fees
x Average time spent at performance/lobby pre-show: 2.75 hrs
x Average time spent at pre-show meal/drinks/downtown: 2.5 hrs
x 95% capacity in venue
x 2 patrons per car
According to a 2014 survey of SLO REP patrons:
x 67% of SLO REP audiences go to dinner/drinks before or after show (5 hrs in garage)
x 28% of SLO REP audiences only attend the performance (2 hrs in garage)
x 5% of SLO REP audience uses alternate transportation/free parking
MAINSTAGE PARKING REVENUE:
$93,493/yr, or $577 per performance.
BLACK BOX PARKING REVENUE:
$37,397/yr, or $230 per performance.
Page 8Page 189 of 1192
EMPLOYMENT
Based on our current calendars, SLO REP projects the following payroll breakdowns for our
year-round Exempt and Non-Exempt employees in FY 29:
F/T
(Exempt)
Total
FTE Employee Position
P/T (Non-
Exempt)
P/d (Non-
Exempt)
Total Emp.
Payroll
>20 hrs/wk <20 hrs/wk
Artistic Director $95,000 1
Managing Director $70,000 1
Development Director $70,000 1
Development Assistant $25,000 0.5
Marketing Director $60,000 1
Education Director $60,000 1
Education Assistant/Outreach $25,000 0.5
Production Manager $60,000 1
Technical Director $60,000 1
Assistant Technical Director $12,500 0.25
Volunteer Director/House Mgr $27,500 0.75
Box Office Manager $20,000 0.5
Facilities Director $12,500 0.25
Costume Shop Coordinator $7,500 0.25
Assistant House Manager 1 $5,500 0.25
Assistant House Manager 2 $5,500 0.25
Assistant House Manager 3 $5,500 0.25
Assistant House Manager 4 $5,500 0.25
Box Office Staff 1 $4,000 0.25
Box Office Staff 2 $4,000 0.25
Scene Shop Crew 1 $10,000 0.25
Scene Shop Crew 2 $10,000 0.25
TOTALS $475,000 $97,500 $82,500 12 $655,000
Page 9Page 190 of 1192
Based on our current calendars, SLO REP projects the following payroll breakdowns for
our show-specific artist contracts in FY 29:
Artist Position Average # of
Contracts
Total Total FTE
Contract
Total
Each
Season
Payroll Hours
Director (Mainstage) $3,500 8 $28,000 1,200 0.58
Director (Black Box) $2,750 5 $13,750 750 0.36
Director (ACT Show) $2,800 2 $5,600 400 0.19
Director (Staged Reading) $300 5 $1,500 175 0.08
Actor (Mainstage) $2,500 50 $125,000 11,250 5.41
Actor (Black Box) $2,000 30 $60,000 6750 3.25
Musical Director $2,500 8 $20,000 400 0.19
Choreographer (Mainstage) $2,500 4 $10,000 200 0.10
Choreographer (Black Box) $2,250 2 $4,500 100 0.05
Choreographer (ACT) $1,750 1 $1,750 75 0.04
Tech Crew (Mainstage) $750 40 $30,000 5000 2.40
Tech Crew (Black Box) $500 26 $13,000 3250 1.56
Lighting Designer (Mainstage) $2,250 8 $18,000 320 0.15
Lighting Designer (Black Box) $1,500 5 $7,500 200 0.10
Lighting Designer (ACT) $750 2 $1,500 80 0.04
Costume Designer (Mainstage) $1,750 8 $14,000 1200 0.58
Costume Designer (Black Box) $1,250 5 $6,250 500 0.24
Costume Designer (ACT) $500 2 $1,000 150 0.07
Sound Designer (Mainstage) $800 8 $6,400 400 0.19
Sound Designer (Black Box) $600 5 $3,000 250 0.12
Sound Designer (ACT) $500 2 $1,000 100 0.05
Musicians (Mainstage) $1,750 5 $8,750 875 0.42
Musicians (Black Box) $1,500 3 $4,500 525 0.25
Props Design (all) $300 16 $4,800 640 0.31
TOTALS $37,550 250 $389,800 34,790 16.73
The total estimated employment impact for our 2028-29 inaugural season:
Total number of positions hired: 277
Total payroll: $1,044,800
Total FTE per year: 28.73
Page 10Page 191 of 1192
DOWNTOWN CORE ACTIVATION
SLO REP’s audience drawing power is often underestimated, its full impact often lost amid the
fanfare accorded other performing arts events. Other arts organizations have several big events
during the year that, rightfully so, command attention in the local media. SLO REP, on the other
hand, provides a steadyyear-round calendar of programming. We are like the great TV show
that people tune into weekly, in relatively large numbers, versus the summer blockbuster that
people rush to see before it’s gone.
For perspective:
-In SLO REP’s current 100-seat venue, nearly 20,000 patrons buy tickets to attend SLO
REP’s annual 200 performances. These totals are greater than the total audiences for
San Luis Obispo Symphony, Opera SLO, Festival Mozaic, and the Civic Balletcombined.
-The most popular national touring shows at the PAC rarely sell out two performances,
totaling a maximum of 2,572 patrons. SLO REP’s annual gala and season musical
productions regularly bring in more than 3,000 patrons over the course of the run.
-In the new venue, SLO REP plans to produce 324 performances each season,
Wednesday- Sunday, on 176 days of the year. These performance and audience
projections do not include foot traffic from our year-round Academy of CreativeTheatre
program or special, non-season events throughout the year.
AN EFFICIENT CATALYST
By bringing hundreds of patrons downtown on nearly half the days of the year, SLO REP
provides an efficient and significant catalyst activating the downtown core. SLO REP will prove
to be a bright shining beacon, attracting new visitors and residents alike to San Luis Obispo who
want to experience distinctivelive performances available nowhere else in the frequency and
quality than can be seen on SLO REP’s new stage.
Page 11Page 192 of 1192
Master Schedule
July 1, 2028-June 30, 2029
MAINSTAGE THEATRE (250 SEATS)
SHOW # OF PERF TOTAL SEATS SUBSCRIPTIONS COMPS SINGLE TICKETS
MAINSTAGE #1 18 4,500 1,000 200 3,300
MAINSTAGE #2 18 4,500 1,000 200 3,300
MAINSTAGE #3 18 4,500 1,000 200 3,300
HOLIDAY 29 7,250 200 7,050
GALA #1 18 4,500 200 4,300
MAINSTAGE #4 18 4,500 1,000 200 3,300
MAINSTAGE #5 18 4,500 1,000 200 3,300
GALA #2 25 6,250 200 6,050
TOTALS 162 40,500 5,000 1,600 33,900
MAINSTAGE THEATRE (200 SEATS)
SHOW # OF PERF TOTAL SEATS SUBSCRIPTIONS COMPS SINGLE TICKETS
MAINSTAGE #1 18 3,600 1,000 200 2,400
MAINSTAGE #2 18 3,600 1,000 200 2,400
MAINSTAGE #3 18 3,600 1,000 200 2,400
HOLIDAY 29 5,800 200 5,600
GALA #1 18 3,600 200 3,400
MAINSTAGE #4 18 3,600 1,000 200 2,400
MAINSTAGE #5 18 3,600 1,000 200 2,400
GALA #2 25 5,000 1000 200 3,800
TOTALS 162 32,400 6,000 1,600 24,800
BLACK BOX THEATRE (100 SEATS)
SHOW # OF PERF TOTAL SEATS SUBSCRIPTIONS COMPS SINGLE TICKETS
ACT #1 16 1,600 150 1,450
UBU #1 4 400 100 10 290
BLACK BOX #1 16 1,600 400 150 1,050
UBU #2 4 400 100 10 290
BLACK BOX #2 16 1,600 400 150 1,050
UBU #3 4 400 100 10 290
BLACK BOX #3 16 1,600 400 150 1,050
UBU #4 4 400 100 10 290
ACT #2 16 1,600 150 1,450
UBU #5 4 400 100 10 290
BLACK BOX #4 16 1,600 400 150 1,050
UBU #5 4 400 100 10 290
BLACK BOX #5 16 1,600 400 150 1,050
PIANO BAR/CAB 26 2,600 2,600
TOTALS 162 16,200 2600 1,110 9,890
Page 12Page 193 of 1192
TOTAL PERFORMANCE BREAKDOWN
July 1, 2028-June 30, 2029
Total # Mainstage Performances 162
Total # Black Box Performances 162
Total # Venue Performances 324
Total # of Mainstage WEEKEND Dates 65
Total # of Mainstage WEEKDAY Dates 53
Total # of Mainstage Performance Dates 118
Total # of Black Box Weekend Dates 56
Total # of Black Box Weekday Dates 56
Total # of Black Box Performance Dates 112
Total # of Venue Performances Dates* 176
* Saturdays and Sundays have two shows scheduled (2 PM and 7 PM).
There are also several dates that have two performances scheduled
concurrently in both the Mainstage and Black Box Theatre.
* These totals only include scheduled, ticketed performances. They do not
include foot traffic and direct downtown core spending from our non-
ticketedyear-round Academy of Creative Theatre program.
Page 13Page 194 of 1192
The Economic Impact of Nonprofit Arts and
Cultural Organizations and Their Audiences in
San Luis Obispo County, CA (Fiscal Year 2015)
Direct Economic Activity
Arts andCultural
Organizations +Arts and Cultural
Audiences =Total Industry
Expenditures
Total Industry Expenditures $13,693,022 $14,029,567 $27,722,589
Economic Impact of Spending by Arts and Cultural Organizations and Their Audiences
Total Economic Impact of Expenditures
Economic Impact of
Organizations +Economic Impact of
Audiences =Total
Economic Impact
Full-Time Equivalent (FTE) Jobs Supported 543 373 916
Household Income Paid to Residents $9,527,000 $7,315,000 $16,842,000
Revenue Generated to Local Government $507,000 $594,000 $1,101,000
Revenue Generated to State Government $632,000 $1,018,000 $1,650,000
Event-Related Spending by Arts and Cultural Audiences Totaled $14 million (excluding the cost of admission)
Attendance to Arts and Culture Events
Resident1
Attendees +Nonresident1
Attendees =All
Cultural Audiences
Total Attendance to Arts and Culture Events 381,226 75,879 457,105
Percentage of Total Attendance 83.4%16.6%100.0%
Average Event-Related Spending Per Person $23.37 $67.48 $30.67
Total Event-Related Expenditures $8,909,252 $5,120,315 $14,029,567
Nonprofit Arts and Cultural Event Attendees Spend an Average of $30.67 Per Person (excluding the cost of admission)
Category of Event-Related Expenditure
Resident1
Attendees
Nonresident1
Attendees
All
Cultural Audiences
Meals and Refreshments $13.86 $20.99 $15.04
Souvenirs and Gifts $5.73 $3.78 $5.41
Ground Transportation $1.83 $7.69 $2.80
Overnight Lodging (one night only)$0.79 $32.28 $6.00
Other/Miscellaneous $1.16 $2.74 $1.42
Average Event-Related Spending Per Person $23.37 $67.48 $30.67
Source: Arts & Economic Prosperity 5: The Economic Impact of Nonprofit Arts and Cultural Organizations and Their Audiences in San
Luis Obispo County. For more information about this study or about other cultural initiatives in San Luis Obispo County, visit ARTS
Obispo’s web site at www.sloartscouncil.org. Copyright 2017 byAmericans for the Arts (www.AmericansForTheArts.org).
Page 14Page 195 of 1192
About This Study
This Arts & Economic Prosperity 5 study was conducted by Americans for the Arts to document the economic impact of the nonprofit
arts and culture industry in 341 communities and regions (113 cities, 115 counties, 81 multicity or multicounty regions, 10 states, and
12 individual arts districts)—representing all 50 U.S. states and the District of Columbia. The diverse communities range in
population (1,500 to more than 4 million) and type (small rural to large urban). Project economists from the Georgia Institute of
Technology customized an input-output analysis model for each participating region to provide specific and localized data on four
measures of economic impact: full-time equivalent jobs, household income, and local and state government revenue. These localized
models allow for the uniqueness of each local economy to be reflected in the findings.
Americans for the Arts partnered with 250 local, regional, and statewide organizations that represent the 341 study regions (30
partners included multiple study regions as part of their participation).To complete this customized analysis for San Luis Obispo
County, ARTS Obispo joined the study as one of the 250 partners.
Surveys of Nonprofit Arts and Cultural ORGANIZATIONS
Each of the 250 partner organizations identified the universe of nonprofit arts and cultural organizations that are located in its
region(s) using the Urban Institute’s National Taxonomy of Exempt Entity (NTEE) coding system, a definitive classification system
for nonprofit organizations recognized as tax exempt by the Internal Revenue Code. In addition, the study partners were encouraged to
include other types of eligible organizations if they play a substantial role in the cultural life of the community or if their primary
purpose is to promote participation in, appreciation for, and understanding of the visual, performing, folk, and literary and media arts.
These include government-owned or government-operated cultural facilities and institutions; municipal arts agencies and councils;
private community arts organizations; unincorporated arts groups; living collections (such as zoos, aquariums, and botanical gardens);
university presenters, programs, and facilities; and arts programs that are embedded under the umbrella of a nonarts organization or
facility (such as a hospital or church). In short, if it displays the characteristics of a nonprofit arts and cultural organization, it is
included.For-profit businesses (e.g., Broadway, motion picture theaters) and individual artists were excluded from this study.
Nationally, data was collected from a total of 14,439 organizations for this study. Response rates among all eligible organizations
located in the 341 study regions was 54.0 percent, and ranged from 9.5 percent to 100 percent. Responding organizations had budgets
ranging from $0 to $785 million (Smithsonian Institution). It is important to note t hat each study region’s results are based solely on
the actual survey data collected. There are no estimates made to account for nonresponding organizations. Therefore, the less-than-100
percent response rates suggest an understatement of the economic impact findings in most of the individual study regions.
In San Luis Obispo County, 28 of the 61 eligible nonprofit arts and cultural organizations participated in this study —an
overall participation rate of 45.9 percent. A list of the participating organizations can be obtained from ARTS Obispo.
Surveys of Nonprofit Arts and Cultural AUDIENCES
Audience-intercept surveying, a common and accepted research method, was completed in all 341 study regions to capture
information about spending by audiences at nonprofit arts and culture events. Patrons were selected randomly and asked to complete a
short survey while attending an event. A total of 212,691 attendees completed the survey. The respondents provided itemized travel
party expenditure data on attendance-related activities such as meals, souvenirs, transportation, and lodging. Data was collected
throughout the year to guard against seasonal spikes or drop-offs in attendance, and at a broad range of events (because a night at the
opera will typically yield more spending than a Saturday children’s theater production). Using total attendance data for 2015
(collected from the participating organizations), standard statistical methods were then used to derive a reliable estimate of total arts
event-related expenditures by attendees in each study region.
In San Luis Obispo County, a total of 918 valid audience-intercept surveys were collected from attendees to nonprofit arts and
cultural performances, events, and exhibitions during 2016.
Studying Economic Impact Using Input-Output Analysis
To derive the most reliable economic impact data, input-output analysis was used to measure the impact of expenditures by nonprofit
arts and cultural organizations and their audiences. This highly-regarded type of economic analysis has been the basis for two Nobel
Prizes in economics. The models are systems of mathematical equations that combine statistical methods and economic theory in an
area of study called econometrics. The analysis traces how many times a dollar is respent within the local economy before it leaves the
community, and it quantifies the economic impact of each of those rounds of spending. Project economists customized an input-output
model for each of the 341 participating study regions based on the local dollar flow among 533 finely detailed industries within its
economy. This was accomplished by using detailed data on employment, incomes, and government revenues provided by the U.S.
Department of Commerce (County Business Patterns, the Regional Economic Information System, and the Survey of State and Local
Finance), state and local tax data (e.g., sales taxes, lodging tax, property taxes, income tax, and miscellaneous local option taxes), and
the survey data collected from the responding arts and cultural organizations and their audiences.
1 For the purpose of this study, residents are attendees who live within San Luis ObispoCounty; nonresidents live elsewhere.
A comprehensive description of the methodology used to complete the national study is available at www.AmericansForTheArts.org/EconomicImpact.
Page 15Page 196 of 1192
APPENDIX B:
Capital Campaign
Gift Range Chart and Timeline
Page 16Page 197 of 1192
/<[ kQh$DQhd].IdIgj]gs0PI<jgI
P<YYI[OIg<[j.IfkIhj£ <[k<gsÃÁÃÃ
$33(1',;% &DSLWDO&DPSDLJQ*LIW5DQJH&KDUWDQG7LPHOLQH
6/25(3%RDUG*RDO 0LOOLRQ
*LIWV *LIW$PRXQW ,Q5DQJH &XPXODWLYH [ 3URVSHFWV1HHGHG 3URVSHFWV ,Q+DQG
/HDG
0LG/HYHO
*HQHUDO
0$1<
727$/6
Page 17
Page 198 of 1192
Updated 01/05/2022
San Luis Obispo Repertory Theatre
Challenge Grant Request • January 2022
APPENDIX B: Capital Campaign Timeline
Leadership Phase
• Enlist Planning Committee
• Case for Support
• Donor Recognition Plan
• Timeline & Policies
• Board Approval of Plan & Policies
• Hire Capital Campaign Coordinator
• Solicit Board Gifts & Pledges
• Establish Lead Gifts Committee
• Establish Steering Committee
• Engage with Potential Lead Donors
• Establish Advisory Council
Quiet Campaign
• Cultivation & Solicitation of Major Gifts
• Gain City Approval of Project
--Architectural Review Committee
--Cultural Heritage Committee
--Planning Commission
--City Council
• Design/Development
• Establish Advisory Council
• COVID SHUTDOWN
• $ RAISED DEC 2021: $5,600,000
Public Campaign
• January 2024: Public Campaign
Launches (80-85% of overall goal)
• Campaign for broad-base gifts (online
campaign to engage entire community)
• Continue donor stewardshipoutreach
& activities/events
• Celebrate Success: Highlight major
donors; stage major campaign events
•35 0HGLD&DPSDLJQNLFNVRႇ
• Parking Structure Complete!
•$GOAL DEC 2024: $10,
Grand Opening!
Feb 2027: First show opens!
$SU $QQRXQFHSODQVIRU¿UVW
full season at the new SLO REP!
2027-2028 • 81st Season
February 19, 2019: First meeting of
Campaign Steering Committee
July 2018: City Council approves
EIR for Palm/Nipomo Parking
Structure and adjacent SLO REP
theatre complex
February 5, 2019: City Council approves
contract with Watry Design for Parking
Structure design services.
December 4, 2018: City
Council approves SLO
REP ENA
Jan 25, 2018: First meeting of
Planning Committee
• August 19, 2019: Architectural Review Committee #1
• September 16, 2019: Architectural Review Committee #2
• September 23, 2019: Cultural Heritage Committee
• October 23, 2019: SLO Planning Commission
• November 12, 2019: Parking Structure &
SLO REP Theatre projects APPROVED!
JAN 2018–FEB 2019
• July 2020: Advisory Council established
• Sept 2020: Design & Development complete.
Plans submitted for full pricing study.
• April 2021: New budget total per pricing study
Construction & Follow Through
• 100% of Campaign Funds Pledged or
Received
• Begin Theatre Construction!
• July 2026: Farewell 888 Morro Street
Celebration Event
• July-December 2026:
--No Shows at Morro Street
--ACT Classes continue at Empleo
• November-December 2026:
--Complete physical transition
to new space
--Test equipment & systems
JAN 2025–DEC 2026
Feb 2025:
SLO REP vertical
construction begins!
JAN–JUN 2027
CELEBRATE!
JAN 2024–DEC 2024MAR 2019–DEC 2021
December 2021:
Empleo Property
in Escrow
Mar 2020-Dec 2021
COVID-19 Shut-Down
Pre-Campaign
Planning
• Audience Survey
• Preliminary Designs
• Establish Campaign
Task Force
• Hire Campaign
Consultants
• Feasibility Study
• Strengthen organiza-
tional structure
• Re-Brand as SLO REP
2012–2017
Sept 2013:
1st Campaign Donation
Mar-July 2016:
Feasibility Study
June 2017:
Re-Brand as
SLO REP
Jan 2024: Public
&DPSDLJQ.LFN2ႇ
Dec 2026:
Theatre
COMPLETE!
JAN 2022–DEC 2023
Quiet Campaign & 2-Site Plan
• Pivot to 2-Site Plan with purchase of
Empleo Property
• Re-energize Fundraising
• Relocate ACT Program
• Hire Campaign Manager
• Create Campaign Video & Website
• Finalize lease with City
• City Construction begins on site
• Corporation/Foundation Cultivation
• $ GOAL DEC 2023: $8,870,000
Spring-Summer 2023:
City Site Prep & Construction
Dec 2024:
Palm/Nipomo
COMPLETE!
Follow Through (continued)
• Continue to CELEBRATE and thank
campaign contributors
• Finalize Donor recognition plaques,
walls, etc.
• Marketing & PR Campaign gears up for
grand opening - regional and national
recognition
CAMPAIGN TIMELINE
Page 18
Page 199 of 1192
APPENDIX C:
Two-Site Capital Campaign Budget
Page 19Page 200 of 1192
/<[ kQh$DQhd].IdIgj]gs0PI<jgI
P<YYI[OIg<[j.IfkIhj£ <[k<gsÃÁÃÃ
$33(1',;& 7ZR6LWH&DSLWDO&DPSDLJQ%XGJHW6800$5<
3$/01,32026,7(
$UFKLWHFW
2WKHU&RQWUDFWRUV
&LW\)HHV3HUPLWV
&RQVWUXFWLRQ
&LW\5HTXLUHG&RQWLJHQF\)XQGV
727$/3$/01,32026,7(
(03/(2 GHWDLOVUHGDFWHGGXHWR(VFURZDJUHHPHQW
727$/(03/(26,7(
&$03$,*1(;3(16(6
3HUVRQQHO
0DUNHWLQJ
'RQRU5HFRJQLWLRQ
(YHQWV
6XSSRUW
727$/&$03$,*1(;3(16(6
727$/7:26,7(&$03$,*1*2$/
6/25(3)81'6
&,7<&+$//(1*(*5$17
Page 20Page 201 of 1192
/<[ kQh$DQhd].IdIgj]gs0PI<jgI
P<YYI[OIg<[j.IfkIhj£ <[k<gsÃÁÃÃ
$33(1',;& 7ZR6LWH&DSLWDO&DPSDLJQ%XGJHW'(7$,/
3$/01,3202&2676
(03/(2&2676
&$3,7$/&$03$,*1&2676
727$/&$03$,*1*2$/
,1.,1' 727$/
'(6,*1&216758&7,21&26763$/01,3202
$5&+,7(&7
,QLWLDO'HVLJQV
'HVLJQ'HYHORSPHQW
&RQVWUXFWLRQ'RFXPHQWV
$5&+,&7(&7727$/
27+(5&2175$&7256
6WUXFWXUDO(QJLQHHU
0HFKDQLFDO(QJLQHHU
&LYLO(QJLQHHU
(OHFWULFDO(QJLQHHU
$FRXVWLFDO(QJLQHHU
/DQGVFDSLQJ$UFKLWHFW
7KHDWUH'1$
,QWHULRU'HVLJQHU
3URMHFW0DQDJHU
3ULFLQJ6WXGLHV
&2175$&725727$/
&,7<
&LW\3HUPLWV
,Q/LHX3DUNLQJ)HHV
&,7<727$/
&216758&7,21
%XLOGLQJ LQFOFRQWLQJHQFLHVLQIODWLRQHTXLS
&216758&7,21727$/
727$/'(6,*1&216758&7,21&26763$/01,3202
Page 21
Page 202 of 1192
$33(1',;& 7ZR6LWH&DSLWDO&DPSDLJQ%XGJHW'(7$,/
,1.,1' 727$/
&,7<5(48,5(0(1763(5(1$
)$&,/,7<)81'
)DFLOLW\5HVHUYH)XQG
6$)(7<1(723(5$7,216)81'
3RWHQWLDO\HDU2SHUDWLQJ'HILFLW
6$)(7<1(775$16,7,21)81'
3RWHQWLDO0RUUR'HFRPPLVLRQLQJ([SHQVH
<HDU&XUUHQW$QQXDO%XGJHW
727$/&,7<5(48,5(0(1763(5(1$
,1.,1' 727$/
(03/(2 GHWDLOVUHGDFWHGGXHWR(6&52:DJUHHPHQW
727$/385&+$6('(6,*1&216758&7,21&2676(03/(2
Page 22
Page 203 of 1192
$33(1',;& 7ZR6LWH&DSLWDO&DPSDLJQ%XGJHW'(7$,/
,1.,1' 727$/
&$03$,*1&2676
3(56211(/
)HDVLELOLW\6WXG\&RQVXOWDQW
&DPSDLJQ&RQVXOWDQW
6/25(3&DPSDLJQ6XSSRUW6WDII
6/25(3&DSLWDO&DPSDLJQ0DQDJHU
/HJDO&RQVXOWDQW
3XEOLF5HODWLRQV&RQVXOWDQW
&RQWLQJHQF\
3(56211(/727$/
0$5.(7,1*
$GYHUWLVLQJ3URPRWLRQ
*UDSKLF'HVLJQ
3RVWDJH
3ULQWLQJ%URFKXUHV
3ULQWLQJ0DLOLQJV
3ULQWLQJ3OHGJH&DUGV0LVF
3URPRWLRQDO9LGHR
*HQHUDO9LVLELOLW\
:HEVLWH8SGDWH
&RQWLQJHQF\
0$5.(7,1*727$/
'21255(&2*1,7,21
'RQRU:DOO9DULRXV'HVLJQV
'RQRU:DOO9DULRXV&RQVWUXFWLRQ
*HQHUDO'RQRU5HFRJQLWLRQ JLIWVOXQFKHWF
&RQWLQJHQF\
'21255(&2*1,7,21727$/
(9(176
(TXLSPHQW5HQWDO
)RRGDQG%HYHUDJH
3ULQWLQJ
6XSSOLHV
&RQWLQJHQF\
(9(176727$/
6833257
6RIWZDUH
0HHWLQJ([SHQVH
6833257727$/
727$/&$03$,*1&2676
Page 23
Page 204 of 1192
APPENDIX D:
SLO REP Annual Operating Budget
2027-2028
Page 24Page 205 of 1192
/<[ kQh$DQhd].IdIgj]gs0PI<jgI
P<YYI[OIg<[j.IfkIhj£ <[k<gsÃÁÃÃ
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW6800$5<
-XO\-XQH23(5$7,21$/%8'*(7
5(9(18(
6HDVRQ7LFNHW6DOHV
0DLQVWDJH6LQJOH7LFNHW6DOHV
%ODFN%R[6LQJOH7LFNHW6DOHV
&RQFHVVLRQV
0LVF,QFRPH
'HYHORSPHQW
$FDGHP\RI&UHDWLYH7KHDWUH (GXFDWLRQ
5HQWDO,QFRPH
727$/5(9(18(
(;3(16(6
'HYHORSPHQW
0DLQVWDJH6KRZ([SHQVHV
%ODFN%R[6KRZ([SHQVHV
$FDGHP\RI&UHDWLYH7KHDWUH
&RQFHVVLRQV
3D\UROO5HODWHG([SHQVHV
6LWH0DLWHQDQFH 3DOP1LSRPR
6LWH0DLWHQDQFH (PSOHR
*HQHUDO0DUNHWLQJ
9ROXQWHHU$SSUHFLDWLRQ
*HQHUDODQG$GPLQLVWUDWLYH
727$/(;3(16(6
',5(&71(7,1&20(
727$/&217,1*(1&,(6
1(7,1&20(ZLWKDOO&217,1*(1&,(6
Page 25Page 206 of 1192
/<[ kQh$DQhd].IdIgj]gs0PI<jgI
P<YYI[OIg<[j.IfkIhj£ <[k<gsÃÁÃÃ
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW'(7$,/
-XO\-XQH23(5$7,21$/%8'*(7
5(9(18(
6($6217,&.(76$/(6
0DLQVWDJH6XEVFULSWLRQV VXEVDW HDFK
%ODFN%R[6XEVFULSWLRQV VXEVDW HDFK
8EX6XEVFULSWLRQV VXEVDWHDFK
7RWDO6HDVRQ7LFNHW6DOHV
0$,167$*(6,1*/(7,&.(76$/(6
0DLQVWDJH6HDVRQ6KRZV
0DLQVWDJH SHUIV VLQJOHWL[VROG
0DLQVWDJH SHUIV VLQJOHWL[VROG
0DLQVWDJH SHUIV VLQJOHWL[VROG
0DLQVWDJH SHUIV VLQJOHWL[VROG
0DLQVWDJH SHUIV VLQJOHWL[VROG
0DLQVWDJH+ROLGD\6KRZV
0DLQVWDJH+ROLGD\ SHUIV RIVLQJOHWL[VROG
0DLQVWDJH*DOD6KRZV
*DOD SHUIV RIVLQJOHWL[VROG
*DOD SHUIV RIVLQJOHWL[VROG
7RWDO0DLQVWDJH6LQJOH7LFNHW6DOHV
%/$&.%2;6,1*/(7,&.(76$/(6
%ODFN%R[6HDVRQ6KRZV
%ODFN%R[ SHUIV VLQJOHWL[VROG
%ODFN%R[ SHUIV VLQJOHWL[VROG
%ODFN%R[ SHUIV VLQJOHWL[VROG
%ODFN%R[ SHUIV VLQJOHWL[VROG
%ODFN%R[ SHUIV VLQJOHWL[VROG
%ODFN%R[$&76KRZV
$&7 SHUIV VLQJOHWL[VROG
$&7 SHUIV VLQJOHWL[VROG
$&76WDJHG5HDGLQJ VLQJOHWL[VROG
%ODFN%R[8EX6KRZV
8EX SHUIV RIVLQJOHWL[VROG
8EX SHUIV RIVLQJOHWL[VROG
8EX SHUIV RIVLQJOHWL[VROG
8EX SHUIV RIVLQJOHWL[VROG
8EX SHUIV RIVLQJOHWL[VROG
8EX SHUIV RIVLQJOHWL[VROG
7RWDO%ODFN%R[6LQJOH7LFNHW6DOHV
Page 26Page 207 of 1192
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW'(7$,/
5()5(6+0(176$1'$/&2+2/
$OFRKRO6DOHV
5HIUHVKPHQW'RQDWLRQV
7RWDO5HIUHVKPHQWVDQG$OFRKRO
0,6&,1&20(
+DQGOLQJ)HH
*LIW&HUWLILFDWHV
0HUFKDQGLVH
7RWDO0LVF,QFRPH
'(9(/230(17
*UDQW,QFRPH
$OO6RXUFHV
0DLQVWDJH6SRQVRUVKLSV
0DLQVWDJH6HDVRQ
0DLQVWDJH6HDVRQ6KRZV
*DOD0XVLFDO
*DOD0XVLFDO
$UWLVWLF7HDP
+ROLGD\6KRZ
%ODFN%R[6SRQVRUVKLSV
%ODFN%R[6HDVRQ
8EX
V2WKHU6KRH6HDVRQ
%ODFN%R[6HDVRQ6KRZV
$&76KRZ
$&76KRZ
$&75HDGLQJ
$UWLVWLF7HDP
2WKHU6SRQVRUVKLSV
$&76HDVRQ
7RWDO6SRQVRUVKLSV
$QQXDO)XQG
6KRZ0XVW*R2Q$QQXDO*HQHUDO)XQG
$&76SHFLILF'RQDWLRQV
7RWDO$QQXDO)XQG
3URJUDP$GYHUWLVLQJ
3URJUDP$GYHUWLVLQJ
7RWDO'HYHORSPHQW,QFRPH
Page 27Page 208 of 1192
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW'(7$,/
$&$'(0<2)&5($7,9(7+($75(
$&7&ODVVHV,QFRPH
)DOO&ODVV,QFRPH
6SULQJ&ODVV,QFRPH
:LQWHU&ODVV,QFRPH
6XPPHU&DPS,QFRPH
6SULQJ%UHDN&DPS,QFRPH
$&76XPPHU3URGXFWLRQ7XLWLRQ
$&7:LQWHU3URGXFWLRQ7XLWLRQ
2XWUHDFK,QFRPH
7RWDO$&7,QFRPH
)$&,/,7,(65(17$/,1&20(
0DLQVWDJH
%ODFN%R[
2WKHU6SDFHV (PSOHR
7RWDO5HQWDO,QFRPH
7RWDO,QFRPH
Page 28Page 209 of 1192
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW'(7$,/
(;3(16(6
'(9(/230(17(;3(16(6
1HZVOHWWHU$QQXDO5HSRUW
1HZVOHWWHU'HVLJQ
1HZVOHWWHU3ULQWLQJ
1HZVOHWWHU0DLOLQJ6HUYLFH
1HZVOHWWHU3RVWDJH
(QGRI\HDU6ROLFLWDWLRQ
(QGRI\HDU6ROLFLWDWLRQ3ULQWLQJ
(QGRI\HDU6ROLFLWDWLRQ0DLOLQJ6HUYLFHV
(QGRI\HDU6ROLFLWDWLRQ3RVWDJH
6SRQVRU$SSUHFLDWLRQ
0DMRU'RQRU3DUW\
*LIWV
2WKHU'RQRU(YHQWV*DWKHULQJV
0HHWLQJVOXQFKFRIIHHHWF
*UDSKLF'HVLJQ
6SRQVRU6LJQVIRU/REE\
'RQRU%URFKXUH
3ULQWLQJ
'RQRU%URFKXUH
5HPLWWDQFH(QYHORSHV3ULQWLQJ
/HWWHUKHDG(QYHORSHV3ULQWLQJ
0LVF
*UDQW([SHQVH
$OO6RXUFHV
3URJUDP$GYHUWLVLQJ([SHQVH
3URJUDP$GYHUWLVLQJ&RQWUDFWRU
&RQWLJHQF\
7RWDO'HYHORSPHQW([SHQVHV
0$,167$*(6+2:(;3(16(6
0DLQVWDJH6HDVRQ6KRZV
0DLQVWDJH
0DLQVWDJH
0DLQVWDJH
0DLQVWDJH
0DLQVWDJH
0DLQVWDJH+ROLGD\6KRZV
0DLQVWDJH+ROLGD\
0DLQVWDJH*DOD6KRZV
*DOD
*DOD
&RQWLJHQF\
7RWDO0DLQVWDJH6KRZ([SHQVHV
Page 29Page 210 of 1192
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW'(7$,/
%/$&.%2;6+2:(;3(16(6
%ODFN%R[6HDVRQ6KRZV
%ODFN%R[
%ODFN%R[
%ODFN%R[
%ODFN%R[
%ODFN%R[
%ODFN%R[$&76KRZV
$&7
$&7
$&76WDJHG5HDGLQJ
%ODFN%R[8EX6KRZV
8EX
8EX
8EX
8EX
8EX
8EX
&RQWLJHQF\
7RWDO%ODFN%R[6KRZ([SHQVHV
$&$'(0<2)&5($7,9(7+($75((;3(16(6
$&7$GYHUWLVLQJ
$&7$GYHUWLVLQJ6XPPHU
$&7$GYHUWLVLQJ)DOO
$&7$GYHUWLVLQJ6SULQJ
$&7$GYHUWLVLQJ:LQWHU
$&7,QVWUXFWRUV
$&7LQVWUXFWRU:,17(56+2:
$&7LQVWUXFWRU6800(56+2:
$&77HDFKHUV
ZDJHV)DOO
$&77HDFKHU
VZDJHV6SULQJ
$&77HDFKHU
VZDJHV:LQWHU
$&77HDFKHUV
ZDJHV6XPPHU
$&77HDFKHUV
ZDJHV2XWUHDFK
$&7&ODVV([SHQVHV
$&70LVFH[S
$&7&ODVVH[SHQVHV PDWHULDOV
$&76XPPHU&DPSH[SHQVHV VQDFNV
&RQWLJHQF\
7RWDO$FDGHP\RI&UHDWLYH7KHDWUH([S
Page 30Page 211 of 1192
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW'(7$,/
5()5(6+0(17$1'$/&2+2/(;3(16(
5HIUHVKPHQW6XSSOLHV
$OFRKRO([SHQVH
&RQWLJHQF\
7RWDO5HIUHVKPHQWDQG$OFRKRO([SHQVH
3D\UROO5HODWHG([SHQVHV
$OO(PSOR\HH6DODULHV
3D\UROO7D[([SHQVH
0HGLFDO%HQHILWV 3HQVLRQ
:RUNHUV
&RPS,QVXUDQFH
2WKHU%HQHILWV
&HOO3KRQH
3DUNLQJ3DVVHV
3URIHVVLRQDO'HYHORSPHQW
5HWLUHPHQW0DWFKLQJ)XQGV
0LOHDJHDQG7UDYHO5HLPEXUVHPHQWV *HQHUDO
&RQWLJHQF\
7RWDO3D\UROO5HODWHG([SHQVHV
6,7(0$,17(1$1&( 3DOP1LSRPR
5HQW
7KHDWUH6XSSOLHV
7HFKQLFDO(TXLSPHQW QRQDVVHW
7KHDWUH0DLQWHQDQFH
-DQLWRULDO
$ODUP)HHV
:DWHU
3* (
7UDVK
&RQWLJHQF\
7RWDO6LWH0DLQWHQDQFH 3DOP1LSRPR
6,7(0$,17(1$1&( (PSOHR
%XLOGLQJ6XSSOLHV
%XLOGLQJ0DLQWHQDQFH
-DQLWRULDO
/DQGVFDSLQJ
$ODUP)HHV
*DV
:DWHU
3* (
7UDVK
&RQWLJHQF\
7RWDO6LWH0DLQWHQDQFH (PSOHR
Page 31Page 212 of 1192
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW'(7$,/
*(1(5$/6($6210$5.(7,1*
6HDVRQ%URFKXUH
6HDVRQ%URFKXUH'HVLJQ
6HDVRQ%URFKXUH3ULQWLQJ
6HDVRQ%URFKXUH0DLOLQJ6HUYLFHV
6HDVRQ%URFKXUH3RVWDJH
6HDVRQ$GYHUWLVLQJ
7ULEXQH([WUDV
1HZ7LPHV([WUDV
6/2/,)(
*UDSKLF'HVLJQ
1HZFRPHUV
6XQVHW%OXIIV 6KHOO%HDFK0DJD]LQH
7KHDWUH$GYHUWLVLQJ
0LVF
+LJXHUD6WUHHW%DQQHU
)DFHERRN*HQHUDO %HVWRIHWF
*RRG0RUQLQJ6/2
/REE\GpFRU
/REE\0DWHULDO'HVLJQ
/REE\0DWHULDO3ULQWLQJ
2WKHU/REE\'pFRU
&RQWLJHQF\
7RWDO*HQHUDO6HDVRQ0DUNHWLQJ
92/817((5$335(&,$7,21
*HQHUDO9ROXQWHHU$SSUHFLDWLRQ
$QQXDO0HHWLQJ
&RQWLJHQF\
7RWDO9ROXQWHHU$SSUHFLDWLRQ
Page 32Page 213 of 1192
$33(1',;' 6/25(3$QQXDO2SHUDWLQJ%XGJHW'(7$,/
*(1(5$/ $'0,1,675$7,9(
2IILFH([SHQVH 3DOP1LSRPR
2IILFH6XSSOLHV
(TXLSPHQW6HUYLFH
7HOHSKRQH
3RVWDJHDQG'HOLYHU\
:HEVLWH,QWHUQHW$FFHVV
,QVXUDQFH
2IILFH([SHQVH (PSOHR
2IILFH6XSSOLHV
(TXLSPHQW6HUYLFH
7HOHSKRQH
3RVWDJHDQG'HOLYHU\
:HEVLWH,QWHUQHW$FFHVV
,QVXUDQFH
%DQN&KDUJHVDQG)HHV
$PHULFDQ([SUHVV)HHV
9LVD0&)HHV
$XWKRUL]HQHW
2WKHU&KDUJHV)HHV
0LVF([SHQVH
'XHV 6XEVFULSWLRQV
2WKHU7D[HV )HHV
6HDVRQ6HOHFWLRQ VFULSWSHUXVDO
%RDUG5HWUHDW
$FFRXQWLQJ
:DFNHU([SHQVH
*HQHUDO$FFRXQWLQJ
7D[$FFRXQWLQJ
%R[2IILFH
%R[2IILFH6XSSOLHV
7LFNHWLQJ6\VWHP)HH
0LVF([SHQVH
&RQWLJHQF\
7RWDO*HQHUDODQG$GPLQLVWUDWLYH
7RWDO([SHQVHV
',5(&71(7,1&20(
7RWDO&RQWLQJHQFLHV
1(7,1&20(ZLWKDOO&RQWLQJHQFLHV
Page 33Page 214 of 1192