Niagara Gazette

Local News

April 23, 2013

Lewiston town officials waiting on Lew-Port to give final price on desired property for recreation center

(Continued)

Niagara Gazette — “The assumptions we made were conservative and realistic,” Brown said. “We assumed a 5 percent increase each year in expenses and don’t have any sponsorship income coming in.”

The final three years of brown’s projections show the facility earning surpluses of $47,000 (year three), $68,000 (year four) and $93,000 (year five).

Much of the income driving the projections is coming from bringing tournaments to the facility, which would bring people to Lewiston and the surrounding areas, not just from Niagara but from outside the region.

Brown said the projections did a good job forecasting figures for the facility, but one number stood out to him as a possible overestimation. He said the committee’s thought of bringing basketball income to the center likely wouldn’t be as lucrative as originally thought.

He said what was originally expected was scaled back to reflect possible difficulty finding tournaments to host.

“I couldn’t get a good handle on where that money was coming from,” Brown said. “It may take a little longer to develop the tournament draw. I didn’t see any other facilities in the region to compare it to to figure out how it would perform.”

with mug of reiter Steve Reiter Waiting on Lew-Port

Contact reporter Timothy Chipp at 282-2311, ext. 2251 or follow on Twitter @timchipp.

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