1. Review existing community studies, reports, and strategic plans 2. Market Analysis a. Conduct a demographic and market analysis that includes the City of Norman and it’s Non-profit Arts Organizations. b. Conduct an economic and social impact analysis of the market. c. Assess the use of current facilities in Norman, OK, their approximate functionality and their locations including organizations and groups without a permanent facility. d. Analyze the impact of an Arts Center on current venues including local entertainment centers and convention and meeting spaces. e. Develop a vision for the venue / what programming will be provided through the venue and the user groups in these particular scenarios. 3. Current Trends and Impact Analysis in Other Communities a. Assess current trends and future projections in Arts Centers including industry definitions, industry growth/decline, trends and analysis. b. Review existing Performing Arts Facilities and Cultural Arts Facilities in the region including present and future bookings to understand market absorption, maximum practical capacity and gaps in services and their impact on existing cultural facilities in their communities. c. Produce business reports that include factors such as level of support amenities, location, space availability, etc. and their impact on existing facilities and organizations. 4. Community Engagement a. Meet with community stakeholders to gain insight into needs and wants, including but not limited to the NAC, the City of Norman, and Non-profit Arts Organizations b. Analyze and report on data collected in Needs Assessment phase. 5. Facility and Site Assessment a. Identify technical and industry requirements for this type of facility to include. Such data may include number of seats, square footage, etc. b. Develop site selection criteria to be used in future site selection, with specific emphasis on phased-in facility growth. c. Consider potential site locations within the City boundaries, and provide the pros and cons associated with each of the potential locations. Phase II – Management/business Plan and Financial Pro Forma (if necessary) Consultant to propose a timeline as part of the submittal 1. Operational Analysis a. Consider potential organizational structures including public and private options that could be developed to operate a cultural arts facility. b. Develop a business pro forma that includes projected capital and operating costs as well as revenue projections associated with the facility. c. Propose recommendations on ownership and management structure d. Provide impact analysis on existing organizations. e. Minimum of three case studies of comparable facilities in like-sized communities. 2. Financial Analysis a. Develop endowment and long-term sustainable funding plan. b. Identify existing and new revenue streams to support the project. c. Propose Marketing Strategy. d. Review other criteria as determined by the NAC.
