Ohio Cultural Facilities Commission
Ice Arena (Toledo, OH) Funding Application Analysis
Brailsford & Dunlavey serves as the Sports Facility consultant to the Ohio Cultural Facilities Commission, the body through which the State of Ohio participates in funding sports facilities at the major league and minor league levels. In this role, B&D has provided comprehensive consulting on the market and financial feasibility, economic impact potential, design, and construction of almost every major league and minor league professional sports facility developed in the State since 1996, representing a total of more than $1 billion in total development costs. B&D's function is to identify the sources of risk involved in each project, whether they relate to the project's financing, construction budget and schedule, or operating revenues and costs, and develop strategies for the state to mitigate those risks. Ultimately, B&D is responsible for advising the state on the approval of project funding.
In 2008, B&D was retained to review Lucas County's application for State funding for the Toledo Minor League Ice Arena project and advise the Commission on the financial feasibility of the project's business plan. B&D's specific responsibilities included reviewing all pertinent project documentation including market and economic feasibility, financing, design, and construction documents in accordance with the State's requirements. Upon completion of its research, B&D recommended State funding for the project, with the understanding that several risk factors be mitigated prior to allocation of the funds.
The 8,000-seat, potentially LEED-certified multipurpose arena will open in the fall of 2009 as the new home of the East Coast Hockey League's Toledo Walleye and arenafootball2's Toledo Bullfrogs.