Ferron Discusses Special Event Center Feasibility Study Projections
On July 17 at Ferron City Hall, a special city council meeting was held to discuss the feasibility study for the proposed Ferron special event center. This center would be built at the present fairgrounds site. The meeting took place with Michael Bischoff from Aspen Resource Consultants, to consider the next steps to be taken in the study.
Bischoff presented the latest update on the vision plan of the event center. The plans include an indoor arena, stock barns, playground, picnic area, multipurpose facility, amphitheater, race track, ATV course, exhibit areas, holding pens and an RV park. He distributed a packet of information to the councilmembers that contained each facet of the plan.
Mayor Kent Larsen appointed several representatives to review this information and formulate the cash flow figures required to bring this project to reality. The plan includes the number of events to be held each year, the kinds of events to be held and the revenue projections from these events.
Bischoff gave the councilmembers the "instruments" (the estimate forms) on which to compile the information and to aid in the evaluation of the project's feasibility. The group is required to assemble a five year projection plan with each of those five years broken down into all anticipated revenue and expense.
The figures with which the group will start are comparisons from five facilities of comparable size and structure in the state. There will be much needed discussion and thought required for this process. Every component of the event center will need to be considered for each season and what the long term goals are for the facility. Another aspect will be the impact on the city of Ferron and Emery County.
Bischoff made the council aware of many ways to implement this project in phases and making upgrades as it goes along. Taking into consideration the cost of construction, the type of construction and the amount of capital required to begin the project, the event center could constructed over a period of time to facilitate funding. One possibility, among the many he explained, would be to begin with graveled roads throughout and do the pavement work at a later date.
Bischoff assured the council that his company would work with them throughout the entire process, including the application process for grants and funding. His company is aware of many sources to investigate for the funding of such a project. He also stated that he will work with the council as they put together the papers and figures to complete the study.