2024-11-15T11:54:27-06:00 2023-12-31 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE RD STE 1100 LOUISVILLE KY 402225187 990 2023-01-01 204230414 LOUISVILLE ARENA AUTHORITY INC LOUI 5026909096 ONE ARENA PLAZA LOUISVILLE KY 402021363 LESLIE GEOGHEGAN CHAIR 5026909096 2024-11-14 1 0 CHRISTINE N KOENIG P01022180 5024269660 2024-10-29 2023 2024-10-15 13:58:12Z LESLIE GEOGHEGAN ONE ARENA PLAZA LOUISVILLE KY 402021363 38365816 0 X KFCYUMCENTER.COM X 2006 KY TO FINANCE AND OVERSEE THE MANAGEMENT OF A MULTI-PURPOSE ARENA IN DOWNTOWN LOUISVILLE, KY. THE ARENA IS A VENUE FOR A VARIETY OF COMMUNITY-ORIENTED EVENTS AND OPERATES YEAR-ROUND. 15 15 0 25 0 0 39248981 32106608 3159813 3071891 813101 2687317 500000 500000 43721895 38365816 0 0 0 0 0 0 0 0 0 28719295 27366690 28719295 27366690 15002600 10999126 359835538 365338362 347602375 342106073 12233163 23232289 X TO FINANCE AND OVERSEE THE MANAGEMENT OF A MULTI-PURPOSE ARENA IN DOWNTOWN LOUISVILLE, KY. THE ARENA IS A VENUE FOR A VARIETY OF COMMUNITY-ORIENTED EVENTS, WHICH WILL GENERALLY BE OPEN TO THE PUBLIC, INCLUDING UNIVERSITY OF LOUISVILLE MEN'S AND WOMEN'S BASKETBALL GAMES, CONCERTS, FAMILY SHOWS AND OTHER EVENTS. 0 0 26427498 3571891 THE LOUISVILLE ARENA AUTHORITY WAS CREATED IN 2005 UNDER THE DIRECTION OF THEN KENTUCKY GOVERNOR ERNIE FLETCHER AND OVERSEES THE FINANCIAL PROCESS OF THE KFC YUM! CENTER. THE ARENA AUTHORITY GUIDED THE DEVELOPMENT, FINANCING AND CONSTRUCTION PROCESS OF THE $238 MILLION ARENA. IT ALSO SELECTED FINANCING, CONSTRUCTION, DESIGN AND MANAGEMENT PARTNERS, WHICH INCLUDES AEG MANAGEMENT LOUISVILLE, LLC AS THE CURRENT MANAGING AND OPERATING ENTITY. SINCE ITS OPENING, THE KFC YUM! CENTER HAS HOSTED UNIVERSITY OF LOUISVILLE MEN'S AND WOMEN'S BASKETBALL GAMES, NUMEROUS CONCERTS AND FAMILY SHOWS AND PRIVATE EVENTS. INTEREST IN THE FACILITY REMAINS HIGH, AND AS A RESULT, NUMEROUS NEW BUSINESSES HAVE OPENED NEAR THE ARENA. AS ANTICIPATED, THE ARENA HAS LED TO ADDITIONAL ECONOMIC DEVELOPMENT IN DOWNTOWN LOUISVILLE. 26427498 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 KY X CHRISTOPHER REECE 5026909096 ONE ARENA PLAZA LOUISVILLE KY 402021363 X LESLIE GEOGHEGAN CHAIR 10.00 X X 0 0 0 DARRIN MCCAULEY DIRECTOR 1.00 X 0 0 0 NICOLE YATES DIRECTOR 1.00 X 0 0 0 SHANNON CALES DIRECTOR 1.00 X 0 0 0 MARKUS WINKLER EX-OFFICIO 1.00 X 0 0 0 MARK BLAYNEY DIRECTOR 1.00 X 0 0 0 MICHAEL JONES DIRECTOR 1.00 X 0 0 0 THOMAS LISTON DIRECTOR 1.00 X 0 0 0 SECRETARY DON PARKINSON DIRECTOR 1.00 X 0 0 0 STEVE ROWLAND DIRECTOR 1.00 X 0 0 0 LOUIE SEGER VICE CHAIR 5.00 X X 0 0 0 YVETTE GENTRY DIRECTOR 1.00 X 0 0 0 DALE ROMANS DIRECTOR 1.00 X 0 0 0 DEEPAK TIWARI DIRECTOR 1.00 X 0 0 0 SECRETARY J MICHAEL BROWN DIRECTOR 1.00 X 0 0 0 SECRETARY LARRY HAYES DIRECTOR 1.00 X 0 0 0 SEEMA SINGAL DIRECTOR 1.00 X 0 0 0 DR JODY PRATHER DIRECTOR 1.00 X 0 0 0 MARCUS WITHERS DIRECTOR 1.00 X 0 0 0 0 0 0 0 0 0 0 AEG MANAGEMENT LOUISVILLE LLC 1111 S FIGUEROA ST STE 3100 LOS ANGELES CA 90015 OPERATIONS MANAGEMENT 791049 ANC SPORTS ENTERPRISES LLC 2400 DALLAS PARKWAY STE 500 PLANO TX 75093 TECHNOLOGY SYSTEMS 218331 BAIRD 500 WEST JEFFERSON ST STE 2600 LOUISVILLE KY 40202 CONSULTING 110000 3 23407330 8699278 32106608 OPERATIONS CONTRACTS 711300 1845657 1845657 SUITE & PREMIUM SEATING 711300 1164205 1164205 OTHER OPERATING INCOME 711300 62029 62029 3071891 2687317 2687317 DEBT FORGIVENESS 900099 500000 500000 500000 38365816 3571891 0 2687317 20846 20846 80505 80505 130000 130000 1109436 1109436 2326 2326 21200 21200 15243795 15039710 204085 9944561 9811422 133139 347091 347091 SUITES-SPONSORSHIP, FEE 466930 466930 27366690 26427498 939192 0 60306060 74850429 2073009 1304357 217000 261000 415972450 127059874 297229469 288912576 10000 10000 359835538 365338362 4250855 3711047 1263000 1285500 176688019 176415671 163400232 159193586 2000269 1500269 347602375 342106073 X 12233163 23232289 12233163 23232289 359835538 365338362 10999126 0 X 0 1 X 1 0 X 29986162 29879305 16545243 39248981 32106608 147766299 29986162 29879305 16545243 39248981 32106608 147766299 10078560 137687739 1273285 377368 21101 813101 2687317 5172172 500000 401370 500000 500000 1901370 154839841 13969511 0.88920 0.92980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 91605539 91605539 284209605 98586187 185623418 33868665 22314299 11554366 6288641 6159388 129253 288912576 CENTERPLATE ADVANCE 1500269 1500269 X 38365816 0 38365816 0 38365816 27366690 0 27366690 0 27366690 PART X, LINE 2: THE AUTHORITY RECEIVED A RULING FROM THE INTERNAL REVENUE SERVICE INDICATING THAT IT QUALIFIES AS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO INCOME TAXES HAVE BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE KENTUCKY DEPARTMENT OF REVENUE HAS GRANTED THE AUTHORITY EXEMPTION FROM SALES TAX ON PURCHASES MADE FOR ITS EXEMPT PURPOSE AND HAS ALSO ISSUED THE AUTHORITY AN EXEMPTION FROM AD VALOREM TAX AS A "PURELY PUBLIC CHARITY." DUE TO ITS TAX-EXEMPT STATUS, THE AUTHORITY IS NOT SUBJECT TO U.S. FEDERAL INCOME TAX OR STATE INCOME TAX, HOWEVER, ANY INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE AUTHORITY'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER IRC SECTION 511. THE AUTHORITY GENERATED NO MATERIAL UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. THE AUTHORITY HAS NO MATERIAL UNCERTAIN INCOME TAX POSITIONS WHICH WOULD RESULT IN A LIABILITY TO THE AUTHORITY. THE AUTHORITY RECOGNIZES INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE AUTHORITY RECOGNIZED NO INTEREST OR PENALTIES ON INCOME TAXES IN ITS STATEMENT OF ACTIVITIES FOR THE YEARS ENDED DECEMBER 31, 2023 OR 2022. THE AUTHORITY RECOGNIZES A TAX POSITION AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE AUTHORITY'S OPEN AUDIT PERIODS ARE 2020 THROUGH 2023. THE AUTHORITY DOES NOT EXPECT ITS UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. A KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY 610600439 49127KBU3 2017-12-20 202125000 REFUND O/S BONDS; FUND DEBT RESERVES; WORKING CAPITAL; ISSUANCE COSTS. 0 0 0 A 218802163 8343583 209506475 9655402 2017 0 1 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 SCHEDULE K, PART IV, LINE 2C: THE AUTHORITY HAS BEEN PROVIDED WITH AN ARBITRAGE REBATE CALCULATION REPORT FOR THE SERIES 2017A BONDS FOR THE PERIOD FROM DECEMBER 20, 2017, TO DECEMBER 20, 2022. THE REPORT CONCLUDES THAT THERE IS NO NET ARBITRAGE REBATE LIABILITY FOR THE PERIOD. SCHEDULE K, PART IV, LINE 7: THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORESEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. SCHEDULE K, PART V: THE ORGANIZATION STRIVES TO STAY ABREAST OF FEDERAL REGULATIONS AND CONSIDERS THE REPERCUSSIONS OF ALL SIGNIFICANT ACTIVITIES WHICH COULD FORESEEABLY HAVE AN IMPACT ON THE ORGANIZATION'S TAX EXEMPT BONDS AND THE ASSOCIATED FEDERAL TAX REGULATIONS. IN THE EVENT A VIOLATION IS IDENTIFIED THE ORGANIZATION'S POLICY IS TO CORRECT THE VIOLATION AS SOON AS POSSIBLE, WHILE WORKING WITH THE FEDERAL AUTHORITIES AS NECESSARY TO ENSURE THAT SUFFICIENT CONTROLS ARE PRESENT WHICH WILL GUARD AGAINST FUTURE VIOLATIONS. SCHEDULE K, PART II, LINE 3: DIFFERENCE BETWEEN THE TOTAL PROCEEDS OF ISSUE ($218,802,163) AND ISSUE PRICE ($202,125,000) IS THE ORIGINAL ISSUE PREMIUM ($16,677,163). SCHEDULE K, PART I, LINE A: (C) ADDITIONAL CUSIP #'S ARE 49127KBV1 AND 49127KBW9 FORM 990, PART VI, SECTION A, LINE 3 THE AUTHORITY HAS ENTERED INTO AN OPERATIONS MANAGEMENT AGREEMENT WITH AEG MANAGEMENT LOUISVILLE, LLC EFFECTIVE JULY 1, 2012 TO BE THE SOLE, INDEPENDENT MANAGING AGENT FOR THE ARENA WITH COMPLETE AUTHORITY OVER AND RESPONSIBILITY FOR ITS DAY-TO-DAY OPERATIONS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE DRAFT FORM 990, INCLUDING SUPPLEMENTAL SCHEDULES, IS PROVIDED TO THE FINANCE AND EXECUTIVE COMMITTEE FOR REVIEW AND APPROVAL PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANY DIRECTOR OR OFFICER WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST ARE COVERED UNDER THE ORGANIZATION'S CONFLICT OF INTEREST POLICY. IN THE EVENT THAT A SITUATION ARISES WHEREBY AN INTERESTED PERSON HAS A CONFLICT OF INTEREST, HE/SHE IS OBLIGATED TO REPORT THAT POTENTIAL CONFLICT TO THE BOARD OF DIRECTORS OF THE CORPORATION. THE BOARD OF DIRECTORS SHALL DETERMINE IF A CONFLICT OF INTEREST EXISTS. THE INTERESTED PERSON MAY MAKE A PRESENTATION TO THE BOARD, BUT SHALL NOT BE PRESENT DURING THE BOARD DISCUSSION OF THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST AND SHALL ABSTAIN FROM VOTING ON THE EXISTENCE OF A CONFLICT OF INTEREST. DISCLOSURE OF A POTENTIAL CONFLICT AND THE BOARD OF DIRECTOR'S DECISION REGARDING THE CONFLICT WILL BE NOTED IN THE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFILCT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.