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  #521  
Old Posted Dec 12, 2006, 7:15 AM
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Post Real releases financial data


Hopefully, they'll get going on this project soon now.

By Amelia Nielson-Stowell
Deseret Morning News
Detailed financial information from Real Salt Lake shows rosy projections for the Major League Soccer team, while Salt Lake County officials still have questions about the team's financial future.
Although the team has not made money since it began operating in 2004, documents provided Monday by the team predict that Real will start turning a net profit in 2010, two years after a proposed 136-acre soccer stadium and adjoining hotel and broadcast studio are built in Sandy.
Real released its financial information to Salt Lake County and local journalists. Part of that nearly 50-page document, called "Project Beehive," included the operating model for the team, the stadium and a future radio station.
"We make this release to demonstrate that we have absolutely nothing to hide from officials charged with protecting the taxpayers' best interests," Real chief executive officer Dean Howes wrote in a letter Monday to County Mayor Peter Corroon. "We firmly believe that this is one of the best public-private partnerships ever created for a stadium project, anywhere in America."
The team is hoping to receive $55 million from the county and Sandy for the $180 million project, but the county's $40 million hinges on an evaluation of the team finances. County officials have made it clear that they will not invest a dime of public money until they determine that it is a solid investment.
Part of the county's review process includes a report to the county's Debt Review Committee by independent consulting company Economic Research Associates (ERA). ERA has been given Real's financial information and the report is expected in mid-January.
Corroon, who saw the information briefly Monday, said numerous items caught his eye that he said will need further explanation by team officials.
"We're going to be looking at revenue projects, expenses, and we're also going to be looking at the investors, to make sure they have people that will be putting equity into the project," he said.
According to the financial documents provided by the team, any expected profits depend on a significant investment from partners, and on high attendance at games. The team expects investors to pitch in a total of $46.6 million next year and continue giving that amount until 2013.
Real, in its financial documents, assumes game attendance will increase by 21 percent in 2007, 29 percent in 2008 and continue to increase until it levels out in 2013.
     
     
  #522  
Old Posted Dec 13, 2006, 4:06 AM
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I have to give a big congrats to the state of utah for a having an unemployment rate of 2.5%! Thats ridiculously low...whatever utah is doing everyone else should follow....
     
     
  #523  
Old Posted Dec 13, 2006, 5:48 AM
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Salt Lake's Job Market Among Top Ten
Employment analysts say Utah's job market is one of the strongest in the country. They say Utah companies should hire many new employees in January.
December 12th, 2006 @ 12:44pm
Paul Nelson Reporting

Employment analysts say Utah's job market is one of the strongest in the country. They say Utah companies should hire many new employees in January.

A new survey says Utah's job market has been getting better for the past two years. These University of Utah students say they've noticed this as they apply for jobs.

"It seems to be better now. It seems like there are more opportunities and what not."

"When I moved here three years ago, I had a really hard time finding a job.

Manpower Spokesman Robert Katz: "It's a great job market right now."

Manpower Employment Outlook Spokesman Robert Katz says 47% of surveyed plan to expand jobs, while only three percent plan to scale back.

Manpower Spokesman Robert Katz: "Salt Lake actually came back as the eighth strongest survey in the country, out of the over 400 markets that we do the survey in."

Katz says, with the exception of the period right before the 2002 Olympics, this is the strongest job growth he's seen in 30 years.
     
     
  #524  
Old Posted Dec 13, 2006, 12:59 PM
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Job rate at only 2.5%. That is awesome news for the people in salt lake and all of utah. And just think only three years ago it was a pain in the butt to find a job, and how it seem like everyone is hiring.
     
     
  #525  
Old Posted Dec 15, 2006, 1:13 AM
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Scaled-back design unveiled for SLC's Leonardo
The Salt Lake Tribune
Article Last Updated:12/14/2006 01:22:35 PM MST






Latest design for The Leonardo at Library Square drops plans for a north addition. (Source: The Leonardo)
Posted: 11:55 AM- The Salt Lake City Council, acting as the Redevelopment Agency Board, will consider a new, scaled-back design tonight for a proposed science, art and culture center.
The latest design, released today, calls for a $13 million renovation and seismic upgrade at The Leonardo at Library Square - formerly the Main Library downtown - but drops plans for an addition to the building's north side.
That expansion would boost the price tag to $18 million.
Voters endorsed a $10 million bond in 2003 to help pay for the renovations and install exhibits. The city conditionally approved an additional $750,000 grant last June. Backers of the center have raised $40,000 privately, according to an RDA report, but now must collect another $2.2 million to finish the renovation by August 2007.
     
     
  #526  
Old Posted Dec 15, 2006, 2:35 AM
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It really pisses me off when an article about SLC starts out with "scaled-back".
     
     
  #527  
Old Posted Dec 15, 2006, 2:15 PM
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I agree Comrade,pisses me off too.

Here's a little ditty follow-up about something that I think Jedi brought up recently. That grouping of old buildings across State from the Mariott and Brooks Arcade. I think this might be our next worthy write-in project. I think I'll contact the Utah Heritage Foundation to see if they have historical photo's of the buildings original facade designs. For the most part they've been covered up by that stinkin ugly 50's-60's plastic trash. If anyone has any additional info., let us know.



State St. hotels' fate remains undecided
By Heather May
The Salt Lake Tribune

Article Last Updated:12/15/2006 12:36:28 AM MST


Salt Lake City Council members have recently been pushing historic preservation - funding studies to look at expanding historic districts.
But the commitment may end when it comes to protecting taxpayer-owned buildings.
Some council members aren't sure they want to preserve old buildings the city's Redevelopment Agency owns between 241 South and 255 South on State Street.
The council is considering tearing down those low-income hotels and getting a developer to build housing, office, retail or a mix.
Councilman Soren Simonsen, an architect by trade, urged the council instead to require a developer to renovate the structures. If the city wants to create an active, urban streetscape, it must preserve its past, he said.
“This flies in the face of everything we talk about” wanting to create, he said. He predicted the structures would be replaced by a project that would “in all likelihood . . . make it worse.”
He couldn't convince the council to require a developer to protect the buildings.
“Let's be open-minded,” said Councilman Dave Buhler.
But Councilwoman Nancy Saxton, who is also running for mayor, agreed with Simonsen: “I say we go for what we want first.”
In the end, the council delayed a decision until next month when it will
decide whether to encourage or require preservation.
     
     
  #528  
Old Posted Dec 15, 2006, 2:39 PM
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Post Real Salt Lake expects to fill the stadium



Skeptics say the team's goal to boost attendance may be too ambitious, but stadium and Adu should help

By Derek P. Jensen
The Salt Lake Tribune
Article Last Updated:12/15/2006 12:36:25 AM MST


Real Salt Lake may have logged a losing record and missed the playoffs in 2006, but the two-year-old soccer team was an attendance all-star, finishing fifth overall with an average of 16,366 fans per game.
At least, that's what Major League Soccer reports on its Web site. But RSL's own numbers - released this week in a quest to score public cash to help build a Sandy stadium - show the team drew fewer than 10,000 paying customers per game, and that number is down slightly from the club's first-year gate.
Why the gap between the league's figures and the team's? RSL officials say the higher attendance tally includes promotions and giveaways. A "confidential" MLS document shows nearly one in five of the team's 2005 tickets were freebies. In fact, a Labor Day weekend match drew more comp customers (9,391) than paying ones, according to the document.
But the team's own business model for a successful 20,000-capacity stadium banks on converting comps into seat-buying fans. Next year, the franchise predicts nearly 12,000 paying fans per game and more than 15,400 when the new suburban venue opens in 2008.
The question is how. The team's answer: momentum from last summer's playoff push and the addition of phenom Freddy Adu.
Team spokesman Eric Gelfand notes RSL drew 17,950 in paid attendance for its final 2006 game and posted the best Western Conference record during the second half of the season. Gelfand also points to a 10,935 average in paid attendance in the final five matches, a 38 percent spike from the same stretch during RSL's inaugural year.
"We certainly expect that to continue and snowball from there," he says. "And that's why our projections are what they are."
But those numbers - RSL predicts near sellouts in just five years with more than 19,000 fans - have not been duplicated this year by the Utah Jazz, who boast the NBA's best record. In 12 home games, the Jazz have averaged 18,762 fans with three sellouts, says Jonathan Rinehart, communications manager.
RSL's projections "seem a little ambitious or aggressive," says Shawn Bradley, chief operating officer of the Denver-based sports-marketing firm The Bonham Group.
But Bradley, whose clients have included MLS teams, also says any franchise about to open a new stadium "would naturally expect" an uptick in paid tickets. And Adu, he adds, will be a "huge help."
During its 2005 campaign, the MLS document shows, RSL handed out an average of 3,000 free tickets a game - a common practice for new sports teams laboring to build a fan base.
Even so, the document suggests the team also has a track record of bloating attendance numbers. The confidential figures reveal the announced attendance was 15 percent higher that season, on average, than the number of tickets distributed. When compared to paid attendance, the gap leaps to 42 percent.
MLS President Mark Abbott says league policy is to base announced attendance on the number of tickets distributed.
"It's possible there are numbers that aren't picked up in the comp column," he says, suggesting passes and credentials account for the variance. "I believe the numbers to be an accurate reflection."
The number of RSL handouts, Abbott adds, seems "fairly average" for the league.
Kim Free, who served as vice president of marketing and operations for the WNBA's now-departed Utah Starzz, says her staff never ballooned numbers despite pressure to boost support.
"You had to keep to reality," she says. "You're going to tell people and people are going to see. Attendance is what it is."
Zack Lassiter, assistant athletic director for the University of Utah, says RSL handles attendance for the games played at Rice-Eccles Stadium. "That's at their discretion," he says.
But Lassiter insists the U. does not fudge football or men's basketball attendance figures - that they simply announce the number of tickets distributed (which often is more than the number who passed through the turnstiles).
The discrepancy between paid, actual and announced attendance, Bradley says, is "pretty common" in the sports industry, which operates on an "antiquated" system.
"To maintain some consistency, they continue to do it."
After a protracted and sometimes-personal clash with RSL, Salt Lake County leaders tentatively have agreed to fund 41 percent of the stadium project with tax money. The deal - it is awaiting final county approval pending a financial review - calls for $45 million in public funds for land and infrastructure for the $110 million stadium near 9400 S. State.
Gelfand, the RSL spokesman, predicts a bright future, both on the field and at the box office.
The team touts the third-highest ticket revenue in the MLS and second-largest season-ticket base, with an 85 percent renewal rate - second only to Toronto's expansion team - for 2007. Gelfand notes RSL already has netted 100 new season-ticket packages since announcing Adu's arrival.
This past season's dip, he says, can be attributed to a "horrible" 0-5 start, bad weather and competition from holiday weekends.
As for the 9,000-plus comps on the Labor Day 2005 weekend, Gelfand says those tickets were requested by Salt Lake City School District as part of an anti-truancy campaign.
Gelfand says RSL's "strategic" purchase of KALL 700 AM, a sports radio station, also will help sell seats. The team hopes to "position RSL as one of the world's most recognizable and revered sports brands," according to the business plan.
But County Auditor Sean Thomas says that goal must sustain some shots, the kind accountants like to kick.
A member of the county's Debt Review Committee, Thomas says the group will focus on how much RSL commits to marketing, population and average income - and whether the Salt Lake Valley can support two major-league teams.
"The primary question is: 'Will that happen?' " Thomas says. "Will the new stadium be the draw they expect it to be? Will it dramatically ramp up their ticket sales and revenue?"
Abbott says yes. Due to the intimacy of 20,000-seat soccer-specific stadiums, the MLS president calls it "reasonable" to expect sellouts.
Scott Stucki, vice president of the RSL fan club The Loyalists, just wants to see some heavy machinery digging dirt for a new stadium. He says he is "tired of the mudslinging" and hopes the team mends the marketing mistakes from its sophomore season.
Still, Stucki says, success breaks down to performance on the pitch.
"Utahns like winners," he says. "If the team is winning, Utahns will come out. If they're not winning, Utahns will stay home."
     
     
  #529  
Old Posted Dec 16, 2006, 4:49 AM
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Word is that the Leonardo will open in 2009.
     
     
  #530  
Old Posted Dec 16, 2006, 2:12 PM
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Here's a follow-up on the post by SLC Projects on the previous page. Like Comrade,I was ticked about the reported scale back of the project. However, I felt a lot better after reading this follow-up. I agree they must begin development now and should allow for expansion when future money become's available.





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Like the library, Leonardo will also teach
By Heather May
The Salt Lake Tribune
Article Last Updated:12/15/2006 01:23:40 AM MST


The former Main Library in downtown Salt Lake City will not only house science, art and culture exhibits - it will be its own exhibit.
Organizers of The Leonardo at Library Square revealed its renovation design that calls for the structure to be environmentally sustainable. And one element of the green design will be front and center: an evaporative cooling tower at a new entrance.
In addition, the exterior will become a canvas, with banners hanging over the building's defining concrete panels.
It's all part of the Leonardo's mission, said executive director Mary Tull: to teach. In this case, it will be a "showcase for sustainable operations."
Therenovation of the city-owned building will cost $13 million. The bulk of the cost - $10 million - will be paid by taxpayers, who agreed in 2003 to raise property taxes for the renovation. The Leonardo must raise the remaining $3 million. It hopes to gain federal grants and historic tax credits. The city also has given the Leonardo another $750,000, as long as it raises a matching amount.
The design is a scaled-back version of an earlier scheme that would have added 11,000 square feet of space. But that would have cost $18 million. The funds aren't there and neither is the time: It would cost $100,000 each month the project is delayed for fundraising.
"The capacity to raise millions more for an addition is not now," Tull said, adding that the new design will allow an expansion in the future.
The building needs to be upgraded to withstand earthquakes. The solution is four walls that will be placed inside the structure. The previous plan called for an external corner bracing system that historic preservationists opposed because it would have altered the concrete panels.
Mayor Rocky Anderson has approved the design, as have preservationists, according to the Leonardo.
Construction will start in 2007 and it will open in spring 2009, a year later than initially projected.
By next month, Tull will be able to reveal the exhibits and galleries planned for the inside. The partners include Utah Science Center, Global Artways and Center for Documentary Arts.
     
     
  #531  
Old Posted Dec 17, 2006, 12:29 AM
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Ground was broken today on new south jordan temple,





Church President Hinckley Dedicates Building Site of New Temple
December 16th, 2006 @ 5:18pm

SALT LAKE CITY (AP) -- The president of The Church of Jesus Christ of Latter-day Saints, Gordon B. Hinckley, dedicated the building site for the faith's 13th temple in Utah on Saturday.

The Oquirrh Mountain Utah Temple will be built in South Jordan on an 11-acre site along a western mountain bluff. It will be the fourth temple in the Salt Lake valley and the second with a South Jordan zip code. South Jordan will be the first city in the world with two Mormon temples.

Earlier this year, Hinckley dedicated another temple building site in Draper, Utah, in the southeastern corner of the Salt Lake valley.

The 12.5 million-member faith has 124 operating temples in 37 countries. Another 10 are planned or under construction.

Temples play an important role in the Mormon faith. Considered sacred, members perform sacred religious ceremonies within the buildings, including proxy baptisms and marriage ceremonies known as sealings.

In 2004, the last year for which statistics are available, church members performed a record 32 million temple ceremonies.

Temples are closed to non-church members and only Latter-day Saints in good standing are allowed to enter temples.

During Saturday's ceremony Hinckley also announced plans for the Utah-based church to construct a temple in Quetzaltenango, Guatemala.

Worldwide temple construction has been a major focus of the 96-year-old Hinckley's 11-year reign over the Mormon church. More than 70 have been built under his leadership.
     
     
  #532  
Old Posted Dec 17, 2006, 12:40 AM
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Oh and the new temple will be called the "Oquirrh Mountain Utah Temple" I like that better then "south jordan temple" or "daybreak temple"
Salt lake valley now has two temple being built. south jordan's and draper. This will be the valley's 4th temple and the city's 2nd temple.
     
     
  #533  
Old Posted Dec 17, 2006, 12:49 AM
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Here's the rending........................



     
     
  #534  
Old Posted Dec 17, 2006, 1:11 AM
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Eh, I don't like it...kinda boring looking.
     
     
  #535  
Old Posted Dec 17, 2006, 7:17 AM
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Quote:
Originally Posted by Comrade Reynolds View Post
Eh, I don't like it...kinda boring looking.
No surprise, coming from you!
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  #536  
Old Posted Dec 17, 2006, 8:05 AM
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Quote:
Originally Posted by i-215 View Post
No surprise, coming from you!
What's that supposed to mean?
     
     
  #537  
Old Posted Dec 17, 2006, 12:44 PM
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Comrade,I think he means your one heck of a cool and exciting guy
     
     
  #538  
Old Posted Dec 17, 2006, 12:54 PM
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Anyone notice the resemblance with the London and Swiss Temples?


Swiss,


I like the new Temple. Yes it is a simple design, but very elegant. I prefer the geometric patterns and the color palate of the Quirrh(pronounced Oaker for non locals) to the London or Swiss. I would say that stone being used is going to be very attractive,also along with the jeweled and leaded, stained glass windows.

Last edited by delts145; Dec 18, 2006 at 4:37 AM.
     
     
  #539  
Old Posted Dec 17, 2006, 12:55 PM
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I agree that it's kind of boring--but what I do like about it is that 1) it's a different design than the other 12? temples in the state and 2) I like the look of the stonework on the facade. Much better than the cast concrete they've used for a lot of the others. Plus the copper on the spire...although it's not exactly a visionary new design, it's prettier than it could have been. I like it a lot more than the design for Draper, just across the valley.

The height of this building is going to be 193 feet, btw.
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  #540  
Old Posted Dec 17, 2006, 1:04 PM
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Draper Temple also under construction


Last edited by delts145; Dec 18, 2006 at 3:32 PM.
     
     
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