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BLD enjoys double digit growth pace

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BLD enjoys double digit growth pace

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POSTED August 14, 2009 2:34 a.m.
Big League Dreams continues to enjoy double digit growth in both revenues and attendance.

Revenue is up 22.1 percent in April, May and June compared to the first three months of the year. At the midway point for the calendar year revenue has hit $1,042,984.

That means $166,863 of that amount goes to the city under the terms of the contract the BLD organization has with Manteca to run and maintain the sports complex. It is highly likely that by the start of the fourth quarter revenues will top $1.4 million which means Manteca will receive 20 percent for every dollar beyond that threshold. Up until then, Manteca’ stake rises to 16 percent.

If the current revenue trend continues, Manteca’s receipts will top $332,000 based on  the basic rent agreement by year’s end. That compares to $310,000 received in 2008.

The basic rent is in addition to two other payments BLD is required to make every year - $40,000 and $26,500 to add on two features. Those features were the indoor soccer arena and all-weather turf for all six baseball infields that were not included in the original BLD project. Those payments are reimbursing 100 percent of the cost of the two projects to the bonus bucks account that represents fees paid by developers of residential sewer allocation certainty and park fees collected on new homes for community facilities.

The basic rent which was $310,000 last year is going into the park fee account for community facilities by council directive. The bulk of the money to build the basic complex came from redevelopment agency funds with park fees covering a smaller part.

The BLD complex is the first recreational improvement that is paying back the park fee account. Elected leaders wanted it that way so ultimately the BLD complex would zero out on its use of park fees for construction to allow the money paid back to go for other recreational projects.

Attendance is up 15.7 percent in April, May and June compared to January, February and March of this year. There were 210,319 paying spectators to pass through the gates in the first six months of the year. The BLD gate is expected to easily top last year in attendance when there were just over 300,000 spectators.
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