24_012_LH_ Exhibit B_Market Study Proposal_Re.pdf

Highest and Best Use Assessment - Market, Feasibility and Economic Impact Study for an Arena, Convention Center, Hotel, and Mixed-Use Development

Submitted By:

Johnson Consulting

Submitted To:

Visit Macon, GA

Submission Date:

January 17, 2023

Experts in Convention, Hospitality, Sports and Real Estate Consulting.

JOHNSON CONSULTING | 6 EAST MONROE STREET, FIFTH FLOOR, CHICAGO, ILLINOIS 60603 | 312.447.2010 | WWW.CHJC.COM JOHNSON CONSULTING | 6 EAST MONROE STREET, FIFTH FLOOR, CHICAGO, ILLINOIS 60603 | 312.447.2010 | WWW.CHJC.COM

January 17, 2023

Mr. Gary Wheat President/CEO Visit Macon 450 Martin Luther King Blvd.

Macon, GA 31201

Re: Highest and Best Use Assessment- Market, Feasibility and Economic Impact Study for an Arena, Convention Center, Hotel, and Mixed-Use Development – Macon, GA

Dear Mr. Wheat:

Johnson Consulting is pleased to provide this proposal to Visit Macon (“Client,” “City,” or “CVB”) to prepare a Market Analysis, Financial Feasibility Assessment, and Economic Impact Study for a proposed addition of an arena, convention/meeting space, a mixed-use development, and hotel(s) on the Bibb Mill site in Macon, GA. The analysis our team will perform will help inform the market potential, highest and best use, recommended program, demand strategy and economic and fiscal benefits to guide strategic decisions and investments as you work towards establishing your project. Our study will also assist with potential grants from the State of Georgia as well as other various forms of public funding. This project vision seems like projects we are completing in Champaign, Il and Tuscaloosa, AL.

Johnson Consulting is internationally recognized as one of the most comprehensive real estate advisors on effective and successful development, management and operations of mixed-use developments that often include arenas, hotels and convention centers. We have earned a reputation for quality, integrity and success among developers, municipalities, facility owners and operators and within the public finance community. We have extensive experience in analyzing all aspects of mixed-use real estate development, including strategic planning, operational projections, structuring of financial plans, economic impacts and various other due diligence services. We also specialize in public-private partnership projects.

Our proposal is intended to highlight the breadth and depth of our firm’s experience, dedication and approach; however, we believe it is important to express our unique qualifications:

� Extensive experience in the Georgia market, our expertise and success from similar engagements for markets of a similar size and ones that are larger and smaller will be insightful. Our recent work in DeKalb County, GA on a similar type of entertainment development, that included a hotel, entertainment options, a convention, and performing arts center, and our knowledge of Georgia tax incentives will assist City leadership to make the most informed decisions on how to optimize their investments in the future of Macon.

� Johnson Consulting is purposely organized as an independent advisory practice to ensure our clients receive the highest objective analysis. The professionals at Johnson Consulting have dedicated their careers to supporting the types of initiatives proposed here, and they will provide the most specialized expertise in the industry.

Experts in Convention, Hospitality, Sports and Real Estate Consulting.

JOHNSON CONSULTING | 6 EAST MONROE STREET, FIFTH FLOOR, CHICAGO, ILLINOIS 60603 | 312.447.2010 | WWW.CHJC.COM JOHNSON CONSULTING | 6 EAST MONROE STREET, FIFTH FLOOR, CHICAGO, ILLINOIS 60603 | 312.447.2010 | WWW.CHJC.COM

Visit Macon January 17, 2023

� Proven collaborative processes that utilize appropriate market data, operational benchmarks and precise analytics so that our clients can confidently make the most informed decisions. We commit both Charles Johnson, Ryan Johnson and Brandon Dowling to this assignment, bring over 50 years of combined experience. Our keen processes utilize appropriate market data and precise analytics so that our Clients receive innovative and visionary recommendations that are financially sustainable and promote tourism and economic development.

� Extensive development and planning experience in mixed-use districts nationally that entails market assessment, competitive analysis and demand potential, financial and economic impact, funding strategies, management and operations advisory, complex business planning, and maximizing return on investment.

� Well-respected by investors, underwriters, and developers as an objective P3 advisor. Our reports and recommendations are recognized by the investment community and are oftentimes included in bond memorandums and developer RFP documents.

We appreciate the opportunity to present our proposal to you. Johnson Consulting can commit to working within a schedule that meets your needs. The balance of this document outlines our scope of work, timing and proposed fees to perform this engagement. We look forward to the opportunity to serve you and if you have any questions, please contact me at 312.447.2001 or at cjohnson@chjc.com.

Sincerely, C.H. Johnson Consulting, Inc.

Charles H. Johnson IV, President

MACON, GA | JANUARY 17, 2023

SCOPE OF WORK

The City of Macon (“City” or “Client”) would like to explore the viability of constructing a new convention center, hotel, arena, and potential mixed-use development on the East Bank of the Ocmulgee River in downtown Macon. The site is roughly 20 acres of the old Bibb Mill which burned down last year. The Bibb Mill development site is across Martin Luther King Jr. Blvd. from the MaconCentreplex which is a 9,000 seat arena and convention center connected to a 245 room Marriott hotel. The tract will also be the location of a new entrance into Ocmulgee Mounds National Historical Park, which is in Congress to be designated Georgia’s first National Park. The Muscogee (Creek) Nation will be building a cultural center north of the tract along Main and Clinton Streets.

Also, the County owns an additional 50 acres that runs west along I-16 which houses the Centreplex and the old Macon Health Department complex – all of this land is in play for construction of a new hotel/arena and convention center or mixed use development to complement the development along the river. A main priority of the City is to build an overflow hotel built on the East Bank site

– and there may be interest on the part of the Muscogee (Creek) Nation to construct a full service hotel and meeting space to compliment the current convention center.

The objective of the study will be to determine the highest and best use of the development sites, and to explore the demand that exists for the various land uses, whether it will be financially viable and what the economic and fiscal impacts will be. Our procedures will test analyses prepared to date, benchmark the proposed development to other projects, and provide independent analysis and opinions on the achievability of results. We will then assist the Client Group with obtaining funding through the State of Georgia.

To best support the due diligence required for the proposed development, we will complete 3 distinct Phases of work:

Phase 1: Market Analysis Phase 2: Feasibility Assessment Phase 3: Economic Impact Analysis/TIF Assessment

PHASE 1: MARKET ANALYSIS

TASK 1A – PROJECT ORIENTATION AND INITIAL FIELD WORK

Johnson Consulting will meet with the Client to accomplish the following:

� Hold workshops with Client representatives to discuss the goals and objectives for this project.

� Gather and analyze background information related to the project, including prior research and analysis for the market and the master planning documents made available by the client group.

� Confirm the list of land uses to be studied with respect to market opportunities on the development site.

� Identify competitive and comparable markets for use in developing case studies regarding innovative strategies and development approaches.

� Identify appropriate contacts and resources necessary to ensure complete review and assessment of issues and specific data in a timely manner.

� Tour the site and surrounding local area, including key business and commercial corridors.

� Hold various meetings as described in the Tasks which follow.

TASK 1B – MARKET ANALYSIS

Johnson Consulting will analyze pertinent economic, demographic, visitor and market factors that impact mixed-use developments which include hotel, arena, convention, and mixed-use space reflecting various potential land uses on the development site, as well as business growth and space utilization trends within the local and regional markets. Our analysis will utilize primary data, based upon our own research and discussions with key stakeholders, and secondary data, including published metrics from trusted industry sources, government, and non-profit organizations.

This data is very important because in many markets, the local and surrounding market and its economic clusters provide for much demand. Our analysis will provide a realistic assessment of the market’s strengths, weaknesses, opportunities, and threats (SWOT). Among the data to be gathered and analyzed will be:

� Population and demographic trends.

� Income and employment trends, including any major employers expected to enter or leave the market.

� Clusters of economic activity, inventory of established industries/ businesses in the marketplace, and identification of industry clusters that could be attracted to Macon, with a specific analysis of meeting, entertainment, hospitality, and sports industries.

� Transportation and access.

� Broader real estate industry trends.

TASK 1C – SUPPLY AND DEMAND ANALYSIS

Johnson Consulting will analyze market factors that impact various potential land uses contemplated for the development site. This will include vetting various land uses discussed during Task 1 with the Client group, as well as other potential land uses identified through Johnson Consulting’s analysis, and agreed upon with Client representatives.

Our analysis will assess key market demand and supply conditions that may influence the overall development plan, based upon primary data from our own research and discussions with key stakeholders, and secondary sources of data from trusted industry sources (primarily STR, CoStar, LoopNet, ESRI, SFIA, and SportsETA) along with published metrics from government and non-profit organizations). We will also include an analysis of national and competitive local developments to assess trends, best practices and lessons learned; and, as appropriate, conduct interviews with stakeholders, area businesses and regional and national tenants/users.

By way of example, specific approaches for a selection of land uses that may be appropriate for the development site are described below.

Arena

� Summarization of demand calendars of comparable facilities that are the approximate size of the prospective arena.

� Utilization days, by tenant and event category.

� Number of athletic and other entertainment events.

� Attendance.

� Pricing strategies.

� Identification of comparable and competitive markets/ developments.

� Profile of identified projects including physical profile, demand profile, real estate development impacts and strategies for the area in and around the development, unique design characteristics that enable the entertainment facilities/ uses to achieve a preferred market position, upgrades and phasing programs and budgets, financial performance, public and private sector participation, and other key metrics.

� Consideration of potential synergies with the adjacent entertainment offerings.

Convention/Conference Center

� City of Macon needs.

� Inventory of existing meeting properties in the market.

� Analysis of growth in supply of meeting and conference space, demand for space and implications for this project.

� Investigation of trends in utilization, market absorption, maximum practical capacity, and unaccommodated business activity levels in the current market.

� Analysis of approach to services, such as food and beverage, parking and property or venue direct marketing.

� Interviews with representatives from major demand generators, including meeting planners, event promoters and/or other customers.

� Exploration of marketing resources provided by the facilities and other parties.

� Analysis of other relevant data points

Hotel � Inventory of existing hotel properties in the market.

� Analysis of growth in supply of hotels, demand for space and implications for this project.

� Investigation of trends in utilization, market absorption, maximum practical capacity, and unaccommodated business activity levels in the current market.

� Comparison of demand (occupancy), pricing (Average Daily Rate – ADR), revenues (food and beverage sales, and Revenue per Available Room – RevPAR), and other key performance metrics.

� Analysis of approach to services, such as food and beverage, parking and property or venue direct marketing.

� Interviews with representatives from major demand generators, including meeting planners, event promoters and/or other customers.

� Exploration of marketing resources provided by the facilities and other parties.

� Analysis of other relevant data points.

Mixed Use (Retail, Restaurant, Entertainment, Office, Parking) � Definition of primary, secondary and tertiary trade areas.

� Analysis of supply (inventory of existing properties, including Class/ type, and any proposed or under construction projects).

� Analysis of demand (lease rates, vacancy, and absorption).

� Profile of new mixed-use developments in the market and comparable/ competitive markets that may offer innovative ideas with respect to performance.

Our analysis will culminate in an assessment of the market supportability of the various land uses on the development site that identifies draws within (or proximate to) the market and documents the current inventory of various land uses, as well as any planned developments; measures performance; and reviews trends and conditions that have the potential to impact the success of the proposed project. We will determine whether there are any gaps in the market due to a lack of supply and assess how any new development will interface with existing and planned supply over the next 10 years.

TASK 1D – CASE STUDIES

We will prepare detailed case study profiles of 3-4 comparable mixed-use developments that include hotels, arenas, mixed-use and convention/meeting space, focused on Georgia and the region, and including national examples, if warranted. We will select developments in conjunction with Client representatives and other stakeholders that may offer innovative ideas with respect to land use mix, tenant recruitment, theming, performance, or general community development.

Our detailed case study profiles will include statistical data on the size, quality, and performance of these developments, as well as demand, operational and economic impact, and supporting information, where available. We worked on Classic Center in Athens in the past and that may be one of our case studies, given the similarities to the District that is evolving there.

PHASE 2: FEASIBILITY ASSESSMENT

TASK 2A – PROGRAM RECOMMENDATIONS

The market analysis will result in a recommend development program for the proposed development (or to the extent that a preliminary program has been developed, we will provide recommendations regarding any necessary adjustments to align the programs with current and likely future market conditions). We will also provide comments on certain parameters and aspects associated with good design and proper program elements.

The culmination of this Task will be a recommended program for the development site that will include specific information for each identified market-supportable land use regarding:

� For the Arena/Entertainment Options: Optimum size and type of the facility component; Site and facility layout options; Confirmation of the number of seats; Amenities for additional performing/ sports/recreation opportunities; Revenue enhancing strategies; Spectator access and seating;

Support space, i.e. team rooms, locker and dressing rooms, administrative offices, if appropriate;

Equipment and operations storage; Dining, concessions and other retail elements; Entrance and lobby areas; Transportation infrastructure; Parking; Adjacent land use opportunities; Urban design; Ways to expand/improve partnerships between community groups, and other public/ private organizations currently providing entertainment opportunities to Macon residents and the region; Other relevant aspects.

� For the Convention Center/Meeting Space: Gross floor area (square footage) of the entire facility; Number, size and location of exhibit space, ballroom and banquet space, theatre and assembly seating, breakout space, spectator space, and meeting room space, in addition to other space needs that could be identified (public/ pre-function, flex space, etc.); Recommended configuration of function space; Food service preparation and points of sale; Technology needs;

Sustainability requirements; Restroom to patron ratios; Entertainment opportunities; Long-term phasing and expansion strategies; Hotel supply requirements and support to existing hotel concentrations; Commercial and retail real estate opportunities; Parking and loading dock requirements; Outdoor green space options; Transportation, access, and proximity; Other requirements, as identified.

� For the Hotel: Number and mix of hotel guest rooms, banquet and meeting space requirements, and hotel brand affiliation, if any and implementation strategy.

� Entertainment and cultural opportunities.

� Other facilities and amenities.

Our program recommendations will clearly identify unique attributes of the proposed development and define synergistic opportunities that exist between the project components including the cultural center, existing facilities, restaurants, and entertainment uses as a means of maximizing tenancies and vibrancy of the project going forward.

TASK 2B – FINANCIAL & OPERATING ANALYSIS

Based upon the recommended program of land uses for the development site, as agreed upon with Client representatives, Johnson Consulting will project the market performance of each project component over a 20-year period.

Arena

Based on our knowledge of entertainment/event complex operations and experience with similar facilities, we will develop estimates of income from various sources, including, but not limited to, concerts, sporting events, sponsorships, advertising, concessions, and other non-traditional funding sources. As part of its analysis, we will develop a detailed financial model that considers all factors that will affect the recommended development’s performance. The feasibility study will include a financial proforma statement for recommended facilities that summarizes a 20-year projection of revenues, expenses, net operating income and debt service throughout the period of the projections.

Convention Center

Building upon our demand projections for the convention/conference center, and supplemented by data from competitive and comparable facilities, we will develop a detailed financial model of the proposed Convention Center/Meeting space to determine anticipated revenues and expenses for the facility. The model will generate a 20-year projection of operating revenues, expenses (including estimated debt service), and net operating income, highlighting what the expected financial picture will be at the end of each year. By way of example, revenues will include: space rentals, food and beverage, advertising, parking, service charges, and others specific to this project;

and expenses will include: payroll, utilities, repairs and maintenance, advertising and marketing, security, insurance, management expense, reserve for replacement, and others identified. The Consulting Team will work to determine non-operating revenue/expense assumptions to inform the overall financial outlook.

Hotel

The analysis will be based upon estimates of occupancy, absorption/ market penetration, lease prices/ ADR, expected performance/ RevPAR, and operating costs reflecting our assessment of comparable and competitive developments (supply analysis) and supported by general information provided by industry resources and other credible secondary sources of information. The result will be a project net cash flow from operations, by land use and collectively for the entire development program. This will assist in assessing the value, investment returns, and/or potential public/private partnership opportunities and incentives associated with development options.

Each land use will be presented in its’ specific uniform chart of accounts. Johnson Consulting will work with the Client to determine non-operating revenue/expense assumptions to inform the overall financial outlook. We will also analyze allocations that may be made to and from entities for services such as administration, security, maintenance and the like. Benefits that accrue from the location of the development site within an opportunity zone will also be factored into the model.

PHASE 3: ECONOMIC IMPACT ANALYSIS

/TIF ASSESSMENT

TASK 3A – ECONOMIC & FISCAL IMPACT ANALYSIS

The research, analysis and projections from the previous tasks will be woven into an economic and fiscal impact assessment for the project as a whole. Johnson Consulting will measure the impact of the proposed development in the following ways:

Summarize local and state tax structure including all relevant State, County, City and other municipal taxes that may be appropriate.

� Prepare a direct tax yield analysis, based on the Project itself, directly- Property Tax, Sales Tax, Food and Beverage Tax, Hotel Tax, and Income Taxes are the main categories of spending, jobs and taxes calculated. Measure the contribution of the new development to the City, County and State.

� Use the IMPLAN model to estimate indirect and induced spending and employment impacts by jurisdiction.

� Conduct tests to ensure that outputs make common sense, in terms of total taxes collected by jurisdiction, correlation with prior information, and in general, to other economic impact studies prepared for other projects.

� Assess what net new incremental impacts occur because of the project, are induced by the market, or are a result of cannibalization of existing land uses in the market and could occur regardless of whether the development moves ahead.

� Identify the area(s) where the proposed development can reasonably be expected to have a significant economic impact and quantify the impact to those area(s). Assist the client group in preparing any documentation needed to support our findings.

SUBJECT

PROJECT(S)

OVERNIGHT

ATTENDEES

DAY-TRIP

ATTENDEES

OVERNIGHT

OTHER VISITORS*

DAY-TRIP

OTHER VISITORS*

AVERAGE DAILY

SPENDING

(BY RELEVANT

CATEGORIES)

DIRECT

SPENDING

DETAILED

SPENDING

BY SECTOR

(TAX BASE)

EFFECTIVE

TAX RATES

IMPLAN

[MULTIPLIER RATES]

NET DIRECT

SPENDING

INDIRECT

SPENDING

INDUCED

SPENDING

INCREASED

EARNINGS

EMPLOYMENT

TAX REVENUES

ECONOMIC

IMPACT

FISCAL

IMPACT

REPORTS, MEETINGS AND DELIVERABLES

We are noted for the clarity, simple sophistication, and quality of our reports. The following are deliverable products that we will provide to Client representatives:

Project Updates: As we progress throughout the process, we will provide project updates for review and discussion. We will also participate in workshops and visioning sessions with the Client group on a regular basis throughout the project.

Draft Report: A Draft Report will be provided to the Client at the conclusion of each Phase of our study. The Report will include fully documented findings and recommendations and will be accompanied by appropriate graphics and presentation material. Following the issuance of the Draft Report, Johnson Consulting will discuss our findings with Client representatives.

Final Report: Fully documented Final Report addressing all Client comments and refinements.

Presentation: We will be available to present to State officials and others as needed, to obtain State funding. Included in our fee will be three visits, additional visits will be billed on a time and materials basis.

We have budgeted for a minimum of three formal meetings – at kick-off and a workshop to present our findings and recommendations. These may be conducted remotely, if requested. Our professionals may also be in the market to conduct field work at other points during the study. We will be available for meetings and workshops during these field work trips, and via conference call throughout the duration of the study.

Johnson Consulting will meet and exceed all of the Client Group’s expectations by working with Client representatives, in person and through regular conference calls, to ensure the timely delivery of an assessment that accurately meets the needs and requirements of the Client and addresses all relevant questions and concerns that happen during the study period.

FEES

We propose to complete the preceding scope of work for a fee of $68,000 plus expenses. Expenses will be billed in addition to fees, as incurred, at cost. Such expenses will be incurred for direct out-of-pocket costs such as travel and data purchase. Upon acceptance of this proposal, a retainer of $15,000 is requested to begin the assignment.

Task 1A- Project Orientation & Initial Field Work

Task 1B - Market Analysis

1 2 3 4 5 6 7 8 9 10 11 12

Task 1C - Suppply & Demand Analysis

Task 1D - Case Studies

Task 2A - Program Recommendations

Task 2B - Financial & Operating Analysis

Task 3A - Economic & Fiscal Impact Analysis

In-Person/Conference Meetings M C C

* Schedule is tentative and subject to change

Conference CallsC

Meeting/WorkshopM

Draft ReportD Acceptance of Final ReportA

Final ReportF

PresentationP

M

WEEK

PD F A

PROJECT SCHEDULE

C

We anticipate that the study will take approximately 12 - 14 weeks to complete and we commit to meeting all of your timeframe requirements.

M

13 14

TA

SK

TA

SK

TA

SK

CONTRACTUAL CONDITIONS

Subject to the actual terms and conditions of any subsequent agreement with you, the following conditions are standard policy for Johnson Consulting and are customary for engagements of this type. Should you have any questions concerning any of these conditions, please feel free to contact us.

The findings and recommendations of our research will reflect analyses of primary and secondary sources of information. Estimates and analyses presented in our report will be based on economic trends, market assumptions, and financial data that are subject to variation. Johnson Consulting will use sources that it deems reliable, but will not guarantee their accuracy. Recommendations will be made from information provided by the analyses, internal databases, and from information provided by management.

It is understood in accepting this proposal that neither fees nor payment thereof is contingent upon the findings of the study. Upon receipt of invoices, payment is to be made within 30 days of receipt unless prior arrangements have been made with management. Additionally, all outstanding invoices must be current prior to the release of any draft and final reports.

Johnson Consulting will have no responsibility to update its report for events and circumstances occurring after the date of its report. If you decide not to proceed with the project, or if it appears that the study will result in a finding that the project cannot achieve its required results, Johnson Consulting would, at your request, terminate its work and would only bill you for fees and expenses incurred to that point in time.

If you require us to attend meetings and make presentations beyond the scope of services, Johnson Consulting will charge separately for its actual hours of professional time incurred in preparing for and attending the meetings. Professional time will be billed at Johnson Consulting’s standard hourly rates plus travel and incidental expenses. Billing rates are subject to a minimum five percent increase as of January 1, 2024.

Invoices outstanding after thirty days of receipt shall accrue at the interest rate of one percent per month until paid. If we need to bring action to enforce the terms contained in this letter, you will be responsible to pay our reasonable attorney’s fees, costs and expenses.

We commit to delivering the highest quality product within the timeframe we have proposed. If you have any questions, please feel free to call me at 312-447-2001.

Thank you for your interest in our firm. We look forward to the opportunity to serve you.

AUTHORIZATION TO PROCEED

Signature: ______________________________

Name: ______________________________

Title: ______________________________

Date: ______________________________

Wire Information:

If you wish to wire payments, please contact us for our wire information.

QUALIFICATIONS

FIRM OVERVIEW

C.H. Johnson Consulting, Inc. (Johnson Consulting) is a corporation founded in 1996 in Chicago, Illinois. Since our inception, Johnson Consulting has conducted numerous engagements in the U.S., Canada, Central and South America, Asia, Africa, and Europe with a focus on the development of convention/conference centers, event centers, urban renewal districts, arts and cultural destinations, public assembly facilities, hotels and surrounding districts, and the broader real estate markets.

Eleven professionals at Johnson Consulting have worked in the convention, conference, hospitality and sports consulting fields for over 35 years. The majority of this work is focused on planning, market and feasibility studies, economic and fiscal impact assessments, economic development, strategy development, tax analysis and projections, site selection, development consulting, developer and investor recruitment, operational audits, as well as downtown and suburban development and redevelopment planning.

The majority of our clients are towns, cities and counties, and we also perform studies for private developers, corporations and quasi-governmental organizations, such as universities, convention and visitor bureaus and authorities. With both our public and private sector clients, we deliver high-quality work in a timely manner. Numerous repeat engagements with several clients are evidence of our reputation for quality and client satisfaction.

We have provided analysis, insight and recommendations for various development and real estate projects, providing both comprehensive evaluation of an entire area and specific evaluation of individual facility concepts and economic development potential. Our expertise allows us to counsel our clients on whether development is appropriate, and if so, what should be built, where it should be built, and how to finance and develop and operate the project.

Johnson Consulting is noted for providing straightforward opinions and creating meaningful solutions to complex challenges.

C.H. Johnson Consulting, Inc.

6 East Monroe Street, Fifth Floor

Chicago, Illinois 60603

312.447.2010 www.chjc.com

+25 YEARS

CONDUCTING ECONOMIC, MARKET

AND FINANCIAL ANALYSIS

FOR PUBLIC ASSEMBLY FACILITIES

$100B

20,000

BUILT HOTEL ROOMS

30M SQ.FT

OF EXHIBITION SPACE

40,000+

SEATS

RESULTING IN

JOHNSON CONSULTING SERVICES

CONSULTING SERVICES

Manage RFP/RFQ Solicitations

Operational Audits

Naming Rights Valuation

Negotiation Assistance

Public-Private Partnerships (P3)

Project Financing Analysis

Tax Analysis & Projections

Asset Valuation

Sensitivity /Gap Analysis

Owner’s Representation

Site AnalysisFunding Strategies

Market & Demand Analysis

Proforma/Financial Analysis

Economic & Fiscal Impacts

Strategic Master Planning

Expansion/Renovation Analysis

DEVELOPMENT SERVICES

Public Engagement

ADVISORY SERVICES

ST

RA

TE

GI

C

PL

ANNING

Sports Complexes • Stadiums Arenas • Mixed-Use Real Estate Convention/Conference Centers

Hotels • Fairgrounds Performing Arts Centers

Conference/ Convention Centers Event Centers

Performing Arts Centers Hotels • Fairgrounds

Sports Complexes • Stadiums Arenas • Mixed-Use Real Estate

REAL ESTATE AND TIF DISTRICTS

Bay St. Louis Marina District Bloomington, MN - Waterpark of America Bridge Investment Partners EB5 Center (Co-Founder Boston Redevelopment - District Funding Plan Burlington County, NJ - Mixed-Use Resort

Development Cañon City, CO - Royal Gorge Park Masterplan Ceiba, PR - Roosevelt Roads Redevelopment Commonwealth, KY - KTDA TIF Manager Corpus Christi, TX - Bayfront Master Plan Des Moines, IA - Retail and Hotel TIF District Kansas City, MO - KC Live! Entertainment District Lake Lanier, GA - Condominium Development Lake Lewisville, TX - Mixed-Use Redevelopment Lexington, KY - Distillery District Lexington, KY - Midland Avenue TIF Lexington, KY - The Summit Mall Lexington, KY CenterPointe Development Louisville, KY - 4th Street Live! Retail Complex Miami, FL - Port of Miami Strategic Redevelopment

Plan Mokena, IL - Industrial Transit-Oriented Development New York City, NY - World Trade Centers Worldwide Newport, KY - Hofbrauhaus Restaurant Northern KY - Ovation Mixed-Use Development Orlando, FL - Real Estate PUD Rockford, IL - Downtown Events Center Master Plan San Juan, PR - Waterfront Mixed-Use Development Starkville, MS - Cotton Mill District Tucson, AZ - Rio Nuevo TIF District Waukegan, IL - Waterfront Masterplan

CONVENTION/CIVIC CENTERS

Akron, OH - Proposed Convention/Conference Center Austin, TX - Austin Convention Center Baltimore, MD - Convention Center Bangkok, Thailand - Bangkok Convention Center Hotel

Complex Bellevue, WA - Meydenbauer Center Expansion Bloomington, IN - Convention Center Expansion Boston, MA - Boston Convention & Exposition Center Boston, MA - Hynes Convention Center Broward County, FL - Broward County Convention

Center Canton, OH - Canton Civic Center Charlotte, NC - Charlotte Convention Center Cheyenne, WY - Cheyenne Convention/ Multi-Purpose

Center Chicago, IL - McCormick Place Chicago, IL - Navy Pier Cincinnati, OH - Cincinnati Convention Center Cincinnati, OH - Cincinnati Convention Center College Station, TX - Bryan-College Station

Convention/Conference Center Columbus, OH - Columbus Convention Center

Expansion Dane County, WI - Dane County Coliseum/Fairgrounds Daytona Beach, FL - Ocean Center Des Moines, IA - Convention Center Detroit, MI - Cobo Hall Durham, NC - Durham Civic Center Expansion Gastonia, NC - Civic/Convention Center Feasibility Grand Island, NE - Multipurpose Event Center Indianapolis, IN - William H. Block Theater Jackson, MS - Jackson Convention Center Kansas City, MO - Kansas City Convention Center Kissimmee, FL - Kissimmee Civic Center Lansing, MI - Lansing Center Mexico - Cancun Convention Center Milwaukee, WI - Wisconsin Center Expansion Myrtle Beach, SC - Myrtle Beach Convention Center New York, NY - Jacob Javits Convention Center

Norfolk, VA - Norfolk Convention Center Orlando, FL - Orange County Convention Center Osceola, FL - World Expo Center Overland Park, KS - Overland Park Convention Center Paducah, KY - Paducah Convention Center Peoria, IL - Peoria Civic Center Philadelphia, PA - Philadelphia Convention Center Pittsburgh, PA - David Lawrence Convention Center Portland, OR - Oregon Convention Center

Benchmarking Analysis Richmond, VA - Richmond Centre / Mosque Theater Richmond, VA - Richmond Convention Center ( San Juan, PR - San Juan Convention Center/WTC San Mateo, CA - San Mateo State Fair Expo Hall Savannah, GA - Savannah Convention/Civic Center Seattle, WA - Washington State Convention & Trade

Center Singapore - Trade and Convention Center South Padre Island, TX - South Padre Island

Convention Centre South San Francisco, CA - South San Francisco

Conference Center St. Charles, MO - Convention Center and Hotel

Development St. Louis MO - St. Louis Cervantes Convention Center Tampa, FL - Tampa Convention Center Toronto, ON - National Trade Center Trenton, NJ - Exhibition Facility Feasibility Tucson, AZ - Tucson Arena, Convention Center &

Performing Arts Complex Vancouver, BC - Vancouver Trade and Convention

Centre Winnipeg, MB - Winnipeg Convention Centre

Operational Audit

HOTELS

Ashland, KY - Henry Clay House Renovation Austin, TX - Austin Convention Center HQ Hotel Bangkok, Thailand - HQ Hotel Bismarck, ND - UTTC Hotel/Convention Center Bloomington, IN - Bloomington Convention Center

HQ Hotel Calgary, Alberta - Calgary Convention Hotel Land

Lease Refinements Charlotte, NC - Charlotte Convention Center HQ Hotel College Park, GA - Convention Center/Hotel Daytona, FL - Embry-Riddle Aeronautical Univ.

Conference Center Denver, CO - Denver Convention Center Hotel Erie, PA - HQ Hotel Ft. Wayne, IN - Convention Center HQ Hotel Ft. Worth, TX - Convention Center HQ Hotel Hammond, IN - Purdue University Calumet Conference

Center Houston, TX - Houston HQ Hotel Kiamesha Lake, NY - Concord Resort Conference

Center Louisville, KY - 21C Hotel and Museum Louisville, KY - Galt House Renovation Louisville, KY - Hilton Garden Inn Conference Hotel at

Kentucky Fair & Exposition Center Macau, China - Proposed Hotel/Casino Melbourne, FL - Conference Center Feasibility Minneapolis, MN - Convention Center HQ Hotel Nashville, TN - Convention Center/HQ Hotel New Orleans, LA - New Orleans HQ Hotel Osceola County, FL - Convention Center & Hotel Overland Park KS - HQ Hotel Palm Springs, CA - Hotel/Golf Resort Salem, OR - Hotel and Conference Center San Moritz, Switzerland - Conference Center/Hotel St. Louis, MO - Renaissance HQ Hotel Syracuse, NY - Hotel Development Tempe, AZ - Hotel and Conference Center Washington, D.C. - HQ Hotel Wausau, WI - Wausau Hotel/Conference Center Will Co. IL - Environmental Education/Conf. Center

TOURISM/ENTERTAINMENT

Ashland, KY - Ashland Motorsports Speedway Arlington Heights, IL - Metropolis Performing Arts Ctr.

Austin, TX - Palmer Auditorium/Bass Hall Boston, MA - Boston CVB Funding Analysis Buffalo, NY - Buffalo CVB Organizational Analysis Cincinnati, OH- Cincinnati CVB Membership &

Organizational Study Columbus, OH - Center of Science and Industry Commonwealth of KY - Tourism Development

Initiatives Commonwealth of MA, Regional Tourism Study Grand Rapids, MI- Grand Rapids CVB Plan & Room Tax

Projections Greylock Glen, MA - Environmental Education Center Houston, TX - Houston Casino Developer—Proposal

Review Jefferson County, WV - Jefferson County CVB Tourism

Strategy Study Milwaukee, WI - Milwaukee CVB Organizational Study Moline, IL - Quad Cities Arts Tourism Strategy Nashville, TN - Nashville Tourism District Nespelem, WA - Colville Federated Tribes Tourism Plan New Orleans Land-based Casino Newport, KY - Newport Aquarium Expansion Orlando, FL - Leu Botanical Gardens Orlando, FL - Orlando CVB Organizational Study Pella, IA - Earthpark Environmental Theme Park Tampa, FL - Tampa CVB Organizational Study Toronto, ON - Toronto Tourism Strategic Plan Tulsa, OK - Tulsa CVB Organizational Study

MINOR LEAGUE SPORTS&

COLLEGIATE

Albuquerque, NM - Downtown Arena Development Alcoa, TN - Proposed Arena Feasibility Biloxi, MS - Minor League Baseball Stadium Boca Raton, FL - Florida Atlantic University’s New

Football Stadium Cedar Falls, IA - University of Northern Iowa Mcleod

Center Charleston, SC - Proposed Football Stadium Chesterfield County, VA - Arena & Soccer Complex Dover, DE - Delaware State Univ. Arena/Football

Feasibility Erie, PA - Erie Civic Center Feasibility Study/

Masterplan Green Bay, WI - Lambeau Field Greenville, SC - BI-LO Center Holland, MI - Holland Area Center Jackson, MS - Atlanta Minor League Baseball Jasper County, IA - Iowa Motor Speedway Lake Placid, NY - Olympic Center Modernization Lexington, KY - Lexington Center and Rupp Arena Louisville, KY - Univ. Louisville Papa John Stadium Miami, FL - Florida International University’s New

Football Stadium Orlando, FL - University of Central Florida’s

Convocation Center and New Football Stadium Osceola County, FL - Osceola County Stadium and

Sports Complex Pittsburgh, PA - Formula Motorsports Park Sacramento, CA - UC Sacramento Football Stadium

Renovation Warren County, OH - Sports / Entertainment Complex Wyandotte County, KS - Proposed Arena District

Feasibility

* Public Sector Clients

JOHNSON CONSULTING’S REPRESENTATIVE PROJECTS

Charles H. Johnson

PRESIDENT & PROJECT EXECUTIVE

JOHNSON CONSULTING

TEAM

Brandon Dowling

SENIOR ADVISOR

SPORTS PRACTICE LEADER

JOHNSON CONSULTING

Sarah Emmerton

SENIOR ADVISOR

MIXED-USE DEVELOPMENT

JOHNSON CONSULTING

PROJECT MANAGER

JOHNSON CONSULTING

Ryan Johnson

RESUMES

reSUMeS

Charles is an internationally recognized real estate consultant with over 35 years of experience in general real estate, hospitality, convention, and performing arts consulting. He has worked on over 1,000 public assembly and destination development consulting assignments in the U.S. and abroad. He has participated in various aspects of operational and sales enhancements strategies for Convention Centers, CVB’s and hotels, which has allowed him to develop an extensive knowledge of operations, marketing and sales, and performance enhancement of destinations, convention facilities and hotels. His widespread experiences provide him with knowledge of industry best practices as well as case studies to draw from when analyzing market and feasibility studies and reviewing operating performance. This has earned him an international reputation among tourism and convention center professionals.

RECENT PROJECT EXPERIENCE

� DeKalb County, 2 Assignments: Attraction Analysis and Convention, Hotel, and Performing Arts Center Study (DeKalb County, GA)

� Alpharetta Performing Arts Center Feasibility Study (Alpharetta, GA)

� Performing Arts and Conference Center Market Analysis and Financial Projections Feasibility Study (Sandy Springs, GA)

� Georgia State University Football Program Study (Atlanta, GA)

� Infinite Energy Center (Gwinnett Center) Expansion Study (Duluth, GA)

� Mixed-Use Downtown Revitalization District Analysis (Lake of the Ozarks, MO)

� Earthpark Development (Pella, IA)

� Economic Impact Assessment Study (Cedar Rapids, IA)

� Southpass Development (Lafayette, AR)

� Greylock Glen Resort Feasibility Study (Adams, MA)

� Music City Convention Center Master Plan; Hotel Market Analysis and Developer Solicitation for Omni Hotel (Nashville, TN)

� Feasibility and Strategy Study for a New Hotel and Convention Center (Alcoa, TN)

� Hotel Market Analysis, Financial Projections, Economic Impact Analysis and Policy Direction Regarding Approach to Development for a New Full- Service, Convention Hotel (Minneapolis, MN)

� Hotel Asset Review (Burr Ridge, IL) � Hotel Market Analysis & Impact Analysis (Madison, WI) � Feasibility Study, Financial Analysis and Economic Impact Analysis for The Grand Hotel (Salem, OR)

� Feasibility Study for a Redevelopment of a 185-Room Hotel Conference / Education Center (Bedford, TX)

CHARLES H. JOHNSON IV

PRESIDENT & CEO, JOHNSON CONSULTING

PROJECT EXECUTIVE

AreAS OF eXPerTISe Sports Facilities Development & Expansion Tourism Strategic Planning Hotel/ Mixed Use Development Developer Solicitation and Negotiation Real Estate Market and Finance Economic and Fiscal Impact Analysis Tax Revenue Projections

YeArS OF eXPerIeNCe With CHJC: 27 Years With Other Firms: 13 Years eDUCATION MBA Finance-Florida State University

BA- Real Estate & Hospitality- Florida State University

PrOFeSSIONAL CONFereNCeS &

AFFILIATIONS

International Association of Venue Managers (IAVM) Destination Management Association International (DMAI) International City/County Management Association (ICMA) International Economic Development Council (IEDC) Managers World Trade Centers Association (MWTCA) Urban Land Institute (ULI) e-MAIL ADDreSS cjohnson@chjc.com reSUMeS

RYAN JOHNSON

PRINCIPAL, JOHNSON CONSULTING

Ryan has over 13 years of experience at Johnson Consulting as a managing director of market and demand feasibility, financial analysis, operational analysis and business planning for public assembly facilities, including an extensive amount of work for conference, convention, and performing arts and entertainment facilities.

Ryan recently performed or is currently working on a feasibility study for a conference and performing arts facility in Longmont, CO; a feasibility study for a convention / conference center in Charlottesville, VA; a benchmarking analysis for Cobo Center in Detroit, MI; and a feasibility study for a conference center in Raleigh, NC.

RECENT PROJECT EXPERIENCE

� DeKalb County, 2 Assignments: Attraction Analysis and Convention, Hotel, and Performing Arts Center Study (DeKalb County, GA)

� Alpharetta Performing Arts Center Feasibility Study (Alpharetta, GA)

� Performing Arts and Conference Center Market Analysis and Financial Projections Feasibility Study (Sandy Springs, GA)

� The Soundside Site and Market Feasibility Analysis and Economic Impact Study (Dare County, NC)

� Conference Center / Performing and Cultural Arts Center Feasibility Study (Longmont, CO)

� Mixed-Use Downtown Revitalization District Analysis (Lake of the Ozarks, MO)

� Earthpark Development (Pella, IA)

� Economic Impact Assessment Study (Cedar Rapids, IA)

� Southpass Development (Lafayette, AR)

� Greylock Glen Resort Feasibility Study (Adams, MA)

� Office Campus Conference Center and Hotel Market Study (Raleigh, NC)

� Redevelopment Study for a New Hotel, Conference & Education Center (Bedford, TX)

� Northern Kentucky Convention Center Highest and Best Use Analysis (Covington, KY)

� Comprehensive Review of Room Tax Policy (Broward, County, FL)

� Hotel Asset Review (Burr Ridge, IL)

AreAS OF eXPerTISe Convention/Conference Center Feasibility Analysis Real Estate Market and Finance Economic and Fiscal Impact Analysis Tax Revenue Projections Business Management & Client Relations Strategic Planning Developer Solicitation and Negotiation

YeArS OF eXPerIeNCe With CHJC: 16 Years With Other Firms: 4 Years eDUCATION International Studies & Finance -University of Denver, Denver, CO

PrOFeSSIONAL

AFFILIATIONS

Destinations International International Association of Venue Managers International Economic Development Council Urban Land Institute e-MAIL ADDreSS rjohnson@chjc.com

PROJECT MANAGER

EXPERIENCE

Experts in Convention, Hospitality, Sports and Real Estate Consulting Featured Project Experience

Convention/Conference Centers

Pennsylvania Convention Center Philadelphia, PA

Boston Convention Center Boston, MA

Connecticut Convention Center Hartford, CT

Cobo Center Event Detroit, MI

Los Angeles Convention Center Los Angeles, CA

Colorado Convention Center Denver, CO

Austin Convention Center Austin, TX

Moscone Center San Francisco, CA

Miami Beach Convention Center Miami Beach, FL

America’s Center Convention Complex St. Louis, MO

Music City Center Nashville, TN

McCormick Place Convention Center Chicago, IL

Johnson Consulting worked diligently and quickly to survey customers and potential customers on the likelihood of considering Austin in the future, develop comparisons to 5 key Austin competitors, along with the otherx statistical information that clearly demonstrated the justification for convention center expansion.

Mark Tester Former Director of

Austin Convention Center Department

Virginia Beach Arena Virginia Beach, VA

DC United Soccer Stadium & Supporting Entertainment District

Poplar Point, Washington DC

One Big Sky District Billings, MT

American Airlines Center Dallas, TX

Enterprise Center St. Louis, MO

Las Vegas Arena Las Vegas, NV

Glendale Arena Glendale, AZ

Champaign Arena Champaign, IL

H-E-B Center Cedar Park, TX

Blue Cross Arena at the War Memorial Rochester, NY

Xtream Arena Coralville, IA

Rochester Arena Rochester, MN

One Central Station Chicago, IL

4th Street Live!

Louisville, KY

Navy Hill Development Richmond, VA

Experts in Convention, Hospitality, Sports and Real Estate Consulting

Sports & Entertainment/ Mixed-Use Districts

The new arena (Xtream Arena) and athlete training center are anchors designed to complete the transformation...An analysis by Johnson Consulting in February 2016 estimated the total

The Bond Buyer January 2019

Featured Project Experience

Las Vegas Arena Las Vegas, VA

Western Michigan University Kalamazoo, MI

Mixed-Use Development Ridgefield Park, NJ

One Central Station Chicago, IL

Navy Hill Development Richmond, VA

One Big Sky District Billings, MT

Proposed Urban Village Minneapolis, MN

KC Power & Light District Kansas City, MO

4th Street Live!

Louisville, KY

Athlete’s Business Network Indianapolis, IN

Centrepointe Lexington, KY

Greylock Glen Resort Adams, MA

Mall Redevelopment Redlands, CA

Bayfront Place Erie, PA

E-Zone Master Plan Daytona Beach, FL

Experts in Convention, Hospitality, Sports and Real Estate Consulting

Mixed-Use/TIF Districts

Featured Project Experience

Río Nuevo TIF District Tucson, AZ

Midland Avenue Lexington, KY

The Summit Retail Project Lexington, KY eXPerIeNCe

CONVENTION CENTER CAMPUS STUDY

DEKALB COUNTY, GEORGIA

DeKalb County, Georgia recently engaged Johnson Consulting to prepare a market analysis and financial feasibility study for a Convention Campus that may include a Convention Center, Conference Center, Performing Arts Center with a potential smaller second theater, and a full-service Hotel.

Determining the feasibility of and developing a financial and operating plan for major civic assets like the proposed Convention Campus demands a highly collaborative process.

Our strategic, creative, multi-disciplinary team is working with Discover DeKalb to define a Convention Campus that positions DeKalb County as a destination for meetings, conventions and performing arts in the metro Atlanta area. The study will include market analysis, competitive case studies, industry trends, surveys and interviews, demand strategy and projections, hotel market demand analysis, recommendations, site analysis, operational analysis and financial projections, funding strategies, and economic and fiscal impact analysis.

Subsequently, DeKalb County has retained Johnson Consulting to determine an appropriate attraction to drive tourism to the market.

PROJECT HIGHLIGHTS

� Market Analysis

� Competitive Case Studies

� Industry Trends

� Surveys and Interviews

� Hotel Market Study

� Site Analysis

� Financial Projections

� Funding Strategies

CITY CENTER PERFORMING ARTS CENTER

SANDY SPRINGS, GEORGIA

Johnson Consulting was retained by the City of…