VII. Funding, Revenues, and Economic Impact- The Business Plan
The Golden Cathedral Preliminary business plan is a separate 21 page document available upon request from the architect. The outline of the plan appears below.
Frederick M. Winkler Architect 113 Quincy Avenue Pittsburgh Pa 15210
t 412-431-7201 f 412-431-7380 winklerfm@aol.com www.goldencathedral.com
Key points revealed in the plan:
The projected attendance considering only the Cathedral sponsored events is 595,000 placing it as the fourth largest draw, following the Pirates, the Zoo, and the Penguins.
The projected attendance of the pageants is 203,000 with a revenue of $4.5 million. Combined with other revenue, and allowing for operational costs, the Cathedral is estimated to operate with a $5 million positive cash flow which after the building financing is complete, will provide for great and unique outreach programs as outlined in the proposal. With these revenues and visitor impact will come substantial economic benefits to the city & region with estimated tax benefits of $2.4 million to the State, $1.3 mil to the County, $384,000 to the RAD, and $1.9 million to the City in taxes and parking revenue.
The estimated construction costs including land acquisition and allowing for contingencies is
$30 million dollars.
GOLDEN CATHEDRAL BUSINESS PLAN (Preliminary)
I
. Project Description: ���������������� see binder with photos & textII. Golden Cathedral Funding Plan
www. goldencathedralfund.com
1. Fundraising Program ���������������.. Page 2
a. Giving with name recognition�����������..Page 3
b. The Golden Cathedral Giftshop
www.thecathedralgiftshop.com
c. The Golden Cathedral Clubs
d. Benefit Concerts
2. Proposed/Confirmed Financial Terms Page 4
a. Private Investment
b. Public Investment
c. Public/Private Grants
III. Golden Cathedral Revenues�������������..Pages 5-10
Golden Cathedral Operating Expenses Pages 11-13
Golden Cathedral Cash Flow Page 13
IV. Economic Benefits to City and Region
1. Tax and Revenue Benefits to the City Page 14
2. Tax and Regional Economic Benefits Pages 15-18
3. Summary of Tax and Revenue Benefits�������.�..Page 19
V. Project Budget Page 20
VI. Project Team
Page 21VII. Project Development Schedule Page 21
VIII. Golden Cathedral Ownership Structure Page 21