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HomeMy WebLinkAboutResolution - 4266 - Approves The 1993-94 Annual Operating Budget For The Omnimax Theater - 09_23_1993Resolution No. 4266 September 23, 1993 Item #30 RESOLUTION WHEREAS, the City of Lubbock and the Science Spectrum have heretofore on the 28th day of February, 1991, entered into a Land Acquisition and Management Agreement with regard to the Omnimax Theater; and WHEREAS, said Agreement requires the Science Spectrum to submit an annual operating budget for the Exhibition Hall/Auditorium to the City for inspection prior to the commencement of each City fiscal year; and WHEREAS, the Science Spectrum has submitted its proposed annual operating budget to the City as required by Section 5.14 of the Land Acquisition and Management Agreement; and WHEREAS, the City of Lubbock has reviewed such proposed budget as required by the Agreement; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the proposed Initial Operating Budget for the Omnimax Theater heretofore submitted to the City of Lubbock for review by the Science Spectrum and attached hereto as Exhibit A is approved for the Fiscal Year 1993-94. Passed by the City Council this 23rd ry Qf pt mbar 1993 ATTEST: lu Bett M. o nso , City Secretary APPROVED AS TO CONTENT: 4jo ert Massengale, AssisYant City Manager APPROVED AS TO FORM: uonaia b. vanaiver, rirs Assistant City Attorney DGV:da/Agenda-D1/0MNITHTR.res September 8, 1993 , CIL SCIENCE SPECTRUM A non-profit museum for Science Education. September 1, 1993 Robert Massengale City of Lubbock P.O. Box 2000 Lubbock, Texas 79457 Dear Robert: Enclosed is an estimated initial operating budget with mission description and first year goals for the Omnimax Theater as provided in our agreement with the city. This is a start-up year. We anticipate our revenue will increase annually and that start-up expenses should not be necessary beginning next year, thus lowering operating costs. Excitement grows with each day closer to opening. Our phones are ringing with inquiries, even from Wichita Falls! The theater is very impressive, showcasing splendid picture and sound. Thank you for all your help to facilitate construction. We look forward to the theater's role in promoting Lubbock's economy. Sincerely, j� U� °' " XL7 Cassandra L. Henry President 5025 J 5Oth Street • Lubbock, Texas 79414 • PO Box 93178 • Lubbock, Texas 79493 Office, 806/791-2335 0 Info. Line, 806/797-1676 0 FAX 806/791-2115 INITIAL OPERATING BUDGET ESTIMATE OMNIMAX THEATER OCTOBER 1, 1993 TO SEPTEMBER 30, 1994 D? Z RIPTIQN The management and staff's responsibilities is to perform the functions necessary for the operation of the Omnimax theater providing efficiency and programming to maximize visitor enjoyment and attendance, helping Position Lubbock as a tourist destination city. ESTIMATVI RSVEHUIS $600,000 F}XPENSES Personal services $125,000 Supplies 34,000 Maintenance 70,500 Other charges 344,000 MV-1 BST MATE _!APE SES $573,500 ESTIMATja--CA.SH FLQW $ 26,500 GQALS AND__OB ECTIyss 1. Successfully open this major regional attraction with awareness events and publicity. 2. Provide new programs on an average of every four months. 3. Open each film with publicity, special events and ad campaign to maximize business opportunities. 4. Conduct visitor surveys. 5. Work with other agencies to coordinate marketing activities promoting tourism attractions in Lubbock.