Facilities Management Quiz 2 University of Iowa - Ch 13 Graded A+

Facilities Management Quiz 2 University of Iowa - Ch 13 Graded A+ What is the process used to save money in the design/construction of a facility? ️Facility planning What is an RFP? When is it used? ️Request for proposal. This gives a rundown on the company and suggests a strategy for resolving your problem - used during construction planning What is an RFQ? When is it used? ️Request for qualifications. This gives firms a chance to explain why they are best qualified to do your job. This goes out and any company can submit a bid on this. - used during construction planning, typically after an RFP Identify some elements that may come into play in site selection. ️- does the location make sense? (size, environment, opposition) - is it accessible? (public transport) - is it by a busy road? - is there parking? - community impact - will it support other businesses? - flooding, railroads, residential areas - zoning - design elements - can you use land that you already own? Identify the four types of public financing & explain. ️- *General Obligation (GO) bonds*: government financed, low interest rates, "full faith and credit" meaning it's good money, most popular, can pay back early, can refinance. - *Revenue bonds*: higher interest rates, you're banking on the money you make to pay for that bond (ticket sales, memberships, naming rights, ads, parking, concessions, etc.) - *Tax Increment Financing (TIF)*: government unit involved. Paid by the INCREASE IN THE TAXES over the taxes that were there before the building was built. The construction of a facility in that area brings new development in the area, so it is paid for by the increase in new taxes of the area. - *Special Taxation*: taxes imposed for a certain purpose (to pay for the new facility) What are the types of impact when building a sports facility? ️- *Economic Impact*: to a community/region/state. Depends on facility size, function and purpose. You could be bringing new money into the area, which is good. You need to consider how it would increase/change food, lodging, retail, gas, etc. Bigger facilities/leagues have a bigger impact. - *Community Impact*: what will this facility bring to the community? Is this impact worth it? Consider if it will bring new business, new contractual agreements (security, catering, etc). Will new bars and restaurants pop up? Hotels? New jobs? What is a needs assessment? ️- Determines need for a facility - Considers the number of events that will occur, the size, attendance capacity, etc. - Considers community suitability. How big is the community? Will it get good use out of the facility? What is your competition? - WANT vs NEED What is a feasibility study? ️determines if the proposed solution is feasible and achievable from a financial, technical, and organizational standpoint - helps determine if a project is worth pursuing Who should be on the planning committee? Why? ️- Representatives from the community (