The Lacey Parks, Culture & Recreation Board reviewed the recent updates on the 20-year draft financial plan for the Regional Athletic Complex (RAC).
During a public meeting on Wednesday, May 3, Parks, Culture & Recreation Director Jen Burbidge said the RAC is not self-supporting and that its long-term sustainability plan should be a priority to continue to provide the same level of service to the community.
"It's a hugely important facility for people to have wellness opportunities," said Burbidge.
Burbidge recommended that the plan should be reviewed periodically or following significant financial environment changes to ensure the RAC remains financially secure.
The 2023 Budget includes $326,584 from the City's General Fund for operation and maintenance, $180,000 from lodging tax, $200,000 from City General Fund committed reserves, and $200,000 from Public Facilities District (PFD) sales tax.
Other potential revenue opportunities for RAC include sponsorship and naming rights, special events, parking fees, field rental fees and leagues.
Lacey Finance Director Troy Woo explained that the 20-year financial model assumes that Lacey's General Fund will allocate an additional $200,000 annually through 2024 and $400,000 per year of PFD support for 2025 through 2029.
The RAC operating fund supports the maintenance of 98 acres, 68 of which opened for public use in May 2009. Phase III is a 26-acre parcel located west of Marvin Road and scheduled for future development.
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