June 27, 2014

Page W4 · Richmond Review Friday, June 27, 2014 Friday, June 27, 2014 Richmond Review · Page W1

REPORT TO THE COMMUNITY————— FOR THE YEAR —————

Sport TourismIn 2013, the Sport Hosting Program helped secure over 41 major sports events.These events generated more than 23,500 hotel room nights for Richmond in 2013, which has an estimated direct economic benefit of $4.6 million. Millions of dollars of additional economic spinoffs are generated through local spending by organizers, visitors and participants of sport hosting events.

The Sport Hosting Program also allocates grants to assist in bidding on and staging sport events. In 2013, about $93,000 in sport hosting grants were allocated, supporting more than 30 local sport organizations. The Sport Hosting Program is funded entirely from hotel taxes.

Major Events Held at the Oval in 2013

Harry Jerome Indoor Track ClassicJudo Vancouver InternationalRichmond Celebrates Hockey Day in CanadaJudo Pacific InternationalMillennium Cup GymnasticsRhythmic Gymnastics Elite Canada ChampionshipWheelchair Rugby Vancouver InvitationalPowerlifting NationalsWorld Fencing Grand PrixSOS Children’s Village RunProvince Gran Forza Pentathlon

BC Cancer Foundation Bust a MoveCAN AM Wushu ChampionshipsCrossFit Games Regionals Canada WestCanadian Cancer Society Relay for LifeOlympic DayJudo Canada National ChampionshipYONEX Canada Open Badminton TournamentRichmond Raven’s Elite Girls Hockey TournamentWestern Canadian Short Track Speed Skating Single Distance Championship

Secured Events | 2014+

2014 Football BC Combine2014 Speed Skating Canada Short Track National Championship2014 Pacific Rim Gymnastics Championships2014 International Wheelchair Rugby Canada Cup2014 TAFISA World Martial Arts Games2014 Pan Am Taekwondo Championship2014-2016 Fencing World Gran Prix2014 Fencing Provincial Championship2015 Western Canadian Fencing Championship 2016-2017 Taekwondo Canada National Championship

February 2014March 2014April 2014June 2014September 2014November 2014March 2014–16June 2014–16March 2015May 2016/17

Diversifying the BusinessThree exciting new lines of business will come to fruition at the Oval over the next two years: the much anticipated Richmond Olympic Experience (ROX) in 2015, a dedicated Yoga studio in 2014 and a prominent lobby retail business.

The ROX – the only North American member of the Olympic Museum Network — will be a transformative exhibit experience that will inspire excellence in sport, promote community, and motivate all to dream big. The project, which has entered the construction phase, will encompass over 15,000 square feet of space throughout the Richmond Olympic Oval’s three levels, including part of its outdoor surrounding grounds. The ROX will further enhance an already world class facility and Richmond’s tourism related goal for the City to become an international destination of choice.

The new yoga business unit will see two new purpose built yoga studios, which will grow to provide over 100 yoga classes per week across multiple yoga disciplines, including hot yoga. The new retail space will support the additions of yoga and the Richmond Olympic Experience, plus ensure that participants in the Oval’s sport, health and wellness programs have access to the desired equipment and accessories needed to further enhance their enjoyment of the facility.

6111 River RoadRichmond BC V7C 0A2778.296.1400

richmondoval.ca


Report to the CommunityThe Richmond Olympic Oval Corporation was established by the City of Richmond to operate the Richmond Olympic Oval. This Report Card to the Community is presented to provide an update on the Oval’s progress in fulfi lling its mandate to become a world-class centre for health, recreation and culture serving all members of our community.

On December 12, 2013, the Richmond Olympic Oval celebrated fi ve years of service to the community and progress toward the goal to transition into the facility the City envisioned when we developed our bid to be a Venue City in the 2010 Olympic Winter Games. With progress being made on all four pillars of the original Oval vision – community recreation, health & wellness, high performance sport and culture & entertainment – 2013 was a year to focus on refi ning and diversifying the business.

How popular is the Oval?The Oval had over 700,000 visits in 2013, a 14% increase over 2012. The Oval has welcomed more than 3.5 million visitors since it opened in 2008.

Public interest in memberships has consistently exceeded forecasts. Membership visits averaged 28,000 per month, up 10% over 2012.

Who uses the Oval?Richmond residents account for 78% of the more than 5,000 active Oval memberships. Fifty-six Richmond-based sports groups are active in the Oval – up from 42 in 2012.

The Oval is also home to high performance training and competition for elite and emerging athletes. In 2013 there were 20,242 high performance training sessions compared to 13,864 in 2012. Additional services have been added to the Oval’s integrated athlete support team including nutritional consulting, performance testing, functional screens, sport psychology, physiological consulting; strength and conditioning program design; and a broad range of sport related medical services. Additionally, the Oval launched a short track speed skating legacy program, became an offi cial training centre for the Women’s National Table Tennis team and reached a three-year agreement with Volleyball Canada to develop the Oval as a national, provincial and regional Training Centre. The Oval has always used guidelines of 80% community use and 20% high performance use.

The Oval is also making major contributions to community wellness by providing a diverse range of opportunities for users from all sectors of the community to enjoy the benefi ts of sport for life and healthy lifestyles. For example, over 1200 children enjoyed Oval Sport Camps. The Oval is also home to numerous community, cultural, consumer and business events and programs annually.

Is the Oval fi nancially sustainable? The Richmond Olympic Oval Corporation has consistently exceeded fi nancial targets. In 2013, the Corporation generated a profi t of $3.69 million, which includes a $0.43 million one-time funding contribution for the mezzanine infi ll project. In 2013, a total of $3.60 million of the profi t was transferred to the capital reserves. The Corporation has achieved a profi t every year since it opened, with the exception of 2010 when public operations were temporarily suspended due to hosting of the 2010 Games.

When the City’s 2013 contribution is netted against the Corporation’s 2013 profi t, the Corporation returned a net fi nancial benefi t to the City in the amount of $0.12 million.

HIGHLIGHTED NUMBERS

$3,595,000Transferred to Capital Reserves

700,000ANNUAL VISITS TO THE OVAL (2013)

5,000+

78%

20,242HIGH PERFORMANCE WORKOUTS

What is the Games Operating Trust?The Games Operating Trust was established with $110 million contributed by the federal and provincial governments, with a specifi c purpose to help support operating costs of selected 2010 Games facilities including the Oval. Any money paid to support venues comes from interest income, not the original principal, so that the fund is perpetual. The Corporation has received $19.53 million in Games Operating Trust funding since contributions began in 2007.

Who paid to build the Oval?The construction cost of the Oval was primarily funded through federal and provincial funding, casino revenues and land sales. The City met its original commitment that property taxes would not be impacted by the cost of building the Oval.

SEE IT ON TV!View the journey of the Richmond Olympic Oval from inception to present day at richmondoval.ca/Legacy.

“In September I had some regular blood work done. My doctor told me the test came up positive for leukemia. What a shock! After the news, I really didn’t want to do anything. The Oval to the rescue! The Oval staff and trainers were fantastic. I began working out and taking some classes. The support and empathy they showed went a long way to getting me back on track.”

—Gleb Novokshanoff Oval Member since 2008

ACTIVE OVAL MEMBERS

OF OVAL MEMBERS ARE RICHMOND RESIDENTS


Report to the CommunityThe Richmond Olympic Oval Corporation was established by the City of Richmond to operate the Richmond Olympic Oval. This Report Card to the Community is presented to provide an update on the Oval’s progress in fulfi lling its mandate to become a world-class centre for health, recreation and culture serving all members of our community.

On December 12, 2013, the Richmond Olympic Oval celebrated fi ve years of service to the community and progress toward the goal to transition into the facility the City envisioned when we developed our bid to be a Venue City in the 2010 Olympic Winter Games. With progress being made on all four pillars of the original Oval vision – community recreation, health & wellness, high performance sport and culture & entertainment – 2013 was a year to focus on refi ning and diversifying the business.

How popular is the Oval?The Oval had over 700,000 visits in 2013, a 14% increase over 2012. The Oval has welcomed more than 3.5 million visitors since it opened in 2008.

Public interest in memberships has consistently exceeded forecasts. Membership visits averaged 28,000 per month, up 10% over 2012.

Who uses the Oval?Richmond residents account for 78% of the more than 5,000 active Oval memberships. Fifty-six Richmond-based sports groups are active in the Oval – up from 42 in 2012.

The Oval is also home to high performance training and competition for elite and emerging athletes. In 2013 there were 20,242 high performance training sessions compared to 13,864 in 2012. Additional services have been added to the Oval’s integrated athlete support team including nutritional consulting, performance testing, functional screens, sport psychology, physiological consulting; strength and conditioning program design; and a broad range of sport related medical services. Additionally, the Oval launched a short track speed skating legacy program, became an offi cial training centre for the Women’s National Table Tennis team and reached a three-year agreement with Volleyball Canada to develop the Oval as a national, provincial and regional Training Centre. The Oval has always used guidelines of 80% community use and 20% high performance use.

The Oval is also making major contributions to community wellness by providing a diverse range of opportunities for users from all sectors of the community to enjoy the benefi ts of sport for life and healthy lifestyles. For example, over 1200 children enjoyed Oval Sport Camps. The Oval is also home to numerous community, cultural, consumer and business events and programs annually.

Is the Oval fi nancially sustainable? The Richmond Olympic Oval Corporation has consistently exceeded fi nancial targets. In 2013, the Corporation generated a profi t of $3.69 million, which includes a $0.43 million one-time funding contribution for the mezzanine infi ll project. In 2013, a total of $3.60 million of the profi t was transferred to the capital reserves. The Corporation has achieved a profi t every year since it opened, with the exception of 2010 when public operations were temporarily suspended due to hosting of the 2010 Games.

When the City’s 2013 contribution is netted against the Corporation’s 2013 profi t, the Corporation returned a net fi nancial benefi t to the City in the amount of $0.12 million.

HIGHLIGHTED NUMBERS

$3,595,000Transferred to Capital Reserves

700,000ANNUAL VISITS TO THE OVAL (2013)

5,000+

78%

20,242HIGH PERFORMANCE WORKOUTS

What is the Games Operating Trust?The Games Operating Trust was established with $110 million contributed by the federal and provincial governments, with a specifi c purpose to help support operating costs of selected 2010 Games facilities including the Oval. Any money paid to support venues comes from interest income, not the original principal, so that the fund is perpetual. The Corporation has received $19.53 million in Games Operating Trust funding since contributions began in 2007.

Who paid to build the Oval?The construction cost of the Oval was primarily funded through federal and provincial funding, casino revenues and land sales. The City met its original commitment that property taxes would not be impacted by the cost of building the Oval.

SEE IT ON TV!View the journey of the Richmond Olympic Oval from inception to present day at richmondoval.ca/Legacy.

“In September I had some regular blood work done. My doctor told me the test came up positive for leukemia. What a shock! After the news, I really didn’t want to do anything. The Oval to the rescue! The Oval staff and trainers were fantastic. I began working out and taking some classes. The support and empathy they showed went a long way to getting me back on track.”

—Gleb Novokshanoff Oval Member since 2008

ACTIVE OVAL MEMBERS

OF OVAL MEMBERS ARE RICHMOND RESIDENTS


REPORT TO THE COMMUNITY————— FOR THE YEAR —————

Sport TourismIn 2013, the Sport Hosting Program helped secure over 41 major sports events.These events generated more than 23,500 hotel room nights for Richmond in 2013, which has an estimated direct economic benefit of $4.6 million. Millions of dollars of additional economic spinoffs are generated through local spending by organizers, visitors and participants of sport hosting events.

The Sport Hosting Program also allocates grants to assist in bidding on and staging sport events. In 2013, about $93,000 in sport hosting grants were allocated, supporting more than 30 local sport organizations. The Sport Hosting Program is funded entirely from hotel taxes.

Major Events Held at the Oval in 2013

Harry Jerome Indoor Track ClassicJudo Vancouver InternationalRichmond Celebrates Hockey Day in CanadaJudo Pacific InternationalMillennium Cup GymnasticsRhythmic Gymnastics Elite Canada ChampionshipWheelchair Rugby Vancouver InvitationalPowerlifting NationalsWorld Fencing Grand PrixSOS Children’s Village RunProvince Gran Forza Pentathlon

BC Cancer Foundation Bust a MoveCAN AM Wushu ChampionshipsCrossFit Games Regionals Canada WestCanadian Cancer Society Relay for LifeOlympic DayJudo Canada National ChampionshipYONEX Canada Open Badminton TournamentRichmond Raven’s Elite Girls Hockey TournamentWestern Canadian Short Track Speed Skating Single Distance Championship

Secured Events | 2014+

2014 Football BC Combine2014 Speed Skating Canada Short Track National Championship2014 Pacific Rim Gymnastics Championships2014 International Wheelchair Rugby Canada Cup2014 TAFISA World Martial Arts Games2014 Pan Am Taekwondo Championship2014-2016 Fencing World Gran Prix2014 Fencing Provincial Championship2015 Western Canadian Fencing Championship 2016-2017 Taekwondo Canada National Championship

February 2014March 2014April 2014June 2014September 2014November 2014March 2014–16June 2014–16March 2015May 2016/17

Diversifying the BusinessThree exciting new lines of business will come to fruition at the Oval over the next two years: the much anticipated Richmond Olympic Experience (ROX) in 2015, a dedicated Yoga studio in 2014 and a prominent lobby retail business.

The ROX – the only North American member of the Olympic Museum Network — will be a transformative exhibit experience that will inspire excellence in sport, promote community, and motivate all to dream big. The project, which has entered the construction phase, will encompass over 15,000 square feet of space throughout the Richmond Olympic Oval’s three levels, including part of its outdoor surrounding grounds. The ROX will further enhance an already world class facility and Richmond’s tourism related goal for the City to become an international destination of choice.

The new yoga business unit will see two new purpose built yoga studios, which will grow to provide over 100 yoga classes per week across multiple yoga disciplines, including hot yoga. The new retail space will support the additions of yoga and the Richmond Olympic Experience, plus ensure that participants in the Oval’s sport, health and wellness programs have access to the desired equipment and accessories needed to further enhance their enjoyment of the facility.

6111 River RoadRichmond BC V7C 0A2778.296.1400

richmondoval.ca

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June 27, 2014