Colorado Symphony Association
Use Agreements
Boettcher Concert Hall & 1245 Champa
BIZ Committee
April 25, 2018

 Goals
•

Support a significant cultural institution and key
resident company at the Arts Complex
• Favorable rent at Boettcher and 1245 Champa
that is adjusted for aging facilities
• Upward trajectory of artistic programming and
financial outlook, especially new endowment fund
• Concerted efforts for outreach and engagement in
community

•

Provide assurance that the Symphony has a “home” at
the Arts Complex

•

Ensure that a public cultural asset is well-utilized and
throwing-off ancillary revenue for the City (FDA tax,
parking revenue, etc.)

•

Invest in capital improvements and equipment to
improve the patron and performer experience in BCH
Photo Credit: Brandon Marshall

 Symphony: Use of Boettcher Concert Hall
Number of Concerts
Number of Attendance
Average Attendance

2015

2016

2017

3 year Average

101

90

107

99

127,956

120,571

162,253

136,927

1,267

1,340

1,516

1,378

Other users: Colorado Children’s Chorale, Denver Young Artists Orchestra,
graduations, swearing in ceremonies.

 Terms: Boettcher Concert Hall
Concerts, rehearsals, education, advancement
Current
Term

Quarterly booking agreement
for specific activities

Rent & Fees

Symphony:
5% of ticket sales and flat rate
for rehearsals = $286,000
(2016/2017)

Building Maintenance &
Equipment

A&V:
Average $250,000/yr.
(since 2010)

Proposed
Multi-year use agreement
January 1, 2018 – June 30, 2021
Symphony:
$15,000/month = $180,000/yr

A&V Commitment:
$300,000 for capital improvements
$500,000 for capital equipment

 Terms: 1245 Champa
Administrative Offices

Current

Proposed

Term

October 25, 2013 –
July 3, 2017

January 1, 2018 – June 30, 2021
(co-terminus with BCH agreement)

Space

4th floor

4th floor (currently occupied by Symphony) and
option for ~1,000 sqft of 3rd floor

Rent

$60,000/year plus utilities &
expenses

$1/year plus utilities & expenses

 Financial Impacts – A&V
Arts & Venues / Boettcher (5-yr avg)
Annual Revenue

$643,536

Annual Expenses

$1,115,481

Annual Operating Loss

($471,945)

NEW: Projected Annual Operating Loss

($600,000-$650,000)

 Arts Complex: Performance of
Cultural Assets
Net Surplus/Loss of buildings managed by A&V
5-Year Average

Boettcher

$

(471,945)

Buell

$

1,331,306

Ellie

$

255,348

$

1,114,710

 Financial Impacts - Symphony
Colorado Symphony
Boettcher

1245 Champa

Total

Average Annual Rent

$300,000

$60,000

$360,000

NEW: Annual Rent

$180,000

$1

$180,001

Total Savings to Symphony

$179,999

 Benefits
• 7 free community concerts annually
• Existing: 3 at Boettcher Concert Hall
• NEW: 4 in various City Council Districts
• Symphony will have the certainty of a
home at BCH at a favorable rate
• City utilizes purpose-built cultural asset
• City continues to receive FDA tax and
ancillary revenue including parking, F&B,
etc.
Photo Credit: Colorado Symphony

 The Next Stage
•
•

•

Funding & Governance process
Next Steps (2018 and beyond)
• Transportation & Mobility Study
• Market study of cultural spaces
• Music Hall Program & Design
Ongoing stakeholder engagement

Photo Credit: Stevie Crecelius