2015-11-11T10:23:46-06:00 2014-12-31 611064249 DEMING MALONE LIVESAY & OSTROFF PSC 9300 SHELBYVILLE ROAD SUITE 1100 LOUISVILLE KY 402225187 990 2014-01-01 204230414 LOUISVILLE ARENA AUTHORITY INC LOUI 5026909096 ONE ARENA PLAZA LOUISVILLE KY 402021363 WILLIAM SUMMERS V VICE-CHAIRMAN 5026909096 2015-10-27 1 CHRISTINE N KOENIG P01022180 5024269660 2014 2016-02-25 16:41:14Z WILLIAM SUMMERS V ONE ARENA PLAZA LOUISVILLE KY 402021363 31093357 0 X WWW.KFCYUMCENTER.COM X 2006 KY TO CREATE, FINANCE, DEVELOP AND OVERSEE THE CONSTRUCTION AND 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. 16 16 0 22 0 0 20022803 21140143 4533327 3730965 731494 851702 1197864 5328047 26485488 31050857 0 0 0 0 0 0 0 0 0 34856732 35146671 34856732 35146671 -8371244 -4095814 406834602 398939483 375054095 369549824 31780507 29389659 X TO CREATE, FINANCE, DEVELOP AND OVERSEE THE CONSTRUCTION AND 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 34474446 9166512 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 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. 34474446 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 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 KY X JUSTIN JOKOVICH 5026909096 ONE ARENA PLAZA LOUISVILLE KY 402021363 X LARRY HAYES CHAIRMAN 6.00 X X 0 0 0 WILLIAM SUMMERS V VICE-CHAIRMAN 3.00 X X 0 0 0 ALICE HOUSTON SECRETARY 1.00 X X 0 0 0 LINDY STREET DIRECTOR 2.00 X 0 0 0 DANIEL ULMER JR TREASURER 20.00 X X 0 0 0 MAURA TEMES DIRECTOR 1.00 X 0 0 0 MICHAEL HOULIHAN DIRECTOR 1.00 X 0 0 0 LESA SEIBERT DIRECTOR 1.00 X 0 0 0 LEE KIRKWOOD DIRECTOR 1.00 X 0 0 0 STEVE ROWLAND DIRECTOR 4.00 X 0 0 0 RAYMOND GUILLAUME DIRECTOR 4.00 X 0 0 0 JAYSHREE AMIN DIRECTOR 1.00 X 0 0 0 STUART RAY DIRECTOR 1.00 X 0 0 0 DEBORAH KING DIRECTOR 1.00 X 0 0 0 TIM MULLOY DIRECTOR 1.00 X 0 0 0 CHERI HAMILTON 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 220000 HILLIARD LYONS 500 WEST JEFFERSON ST STE 700 LOUISVILLE KY 40202 CONSULTING 115000 2 17210910 3929233 21140143 SUITE & PREMIUM SEATING 711300 1954170 1954170 OPERATIONS CONTRACT 711300 1553018 1553018 OTHER OPERATING INCOME 711300 223777 223777 3730965 2558 2558 741644 741644 150000 42500 107500 107500 107500 REVERSAL OF LIABILITY TO KSFB 900099 4828047 4828047 DEBT FORGIVENESS 900099 500000 500000 5328047 31050857 9166512 0 744202 58150 58150 113357 113357 104659 104659 211500 211500 960765 960765 3 3 9918 9918 21744225 21744225 11178117 11178117 174638 174638 SUITES-SPONSORSHIPS & F 591339 591339 35146671 34474446 672225 0 5537827 10918096 7106676 3062220 95021 69030 403308289 43315918 370199156 359992371 16610388 18315355 10000 10000 7275534 6572411 406834602 398939483 8240035 8246456 2932719 2549317 323178294 323379051 30000000 30000000 10703047 5375000 375054095 369549824 X 31780507 29389659 31780507 29389659 406834602 398939483 -4095814 1704966 0 X 0 1 X 1 0 X 7117844 12569823 17595031 20022803 21140143 78445644 7117844 12569823 17595031 20022803 21140143 78445644 3401893 75043751 585767 834170 758630 731494 744202 3654263 149068 561986 568475 1197864 5328047 7805440 89905347 0.83470 0.92080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 91605539 91605539 284001314 31519173 252482141 21444510 6574753 14869757 6256926 5221992 1034934 359992371 CENTERPLATE ADVANCE 5375000 5375000 X 32755823 1704966 1704966 31050857 0 31050857 35146671 0 35146671 0 35146671 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." 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, 2014 OR 2013. DUE TO ITS TAX EXEMPT STATUS, THE AUTHORITY IS NOT SUBJECT TO U.S. FEDERAL INCOME TAX OR STATE INCOME TAX. 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 2011 THROUGH 2014. THE AUTHORITY DOES NOT EXPECT ITS UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. A KENTUCKY ECONOMIC DEVELOPMENT FINANCE AUTHORITY 610600439 49127KBA7 2008-09-03 314327186 TO FINANCE A PORTION OF THE NEW ARENA IN LOUISVILLE, KENTUCKY. 0 0 0 A 2220000 332930620 14040929 41102623 4971953 6423967 7632612 258758536 2010 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 1 U S BANK 2.000000000000 1 0 1 A 1 SCHEDULE K, PART II, LINE 3: DIFFERENCE BETWEEN THE TOTAL PROCEEDS OF ISSUE ($332,930,620) AND ISSUE PRICE ($314,327,186) IS THE ORIGINAL ISSUE DISCOUNT ($4,891,332) AND INTEREST INCOME ($13,712,102). SCHEDULE K, PART IV, LINE 2C: THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON 9/3/2013. 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. FORM 990, PART VI, SECTION A, LINE 3 THE AUTHORITY HAS ENTERED INTO AN OPERATIONS MANAGEMENT AGREEMENT WITH AEG CORPORATION 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 11 A COPY OF THE DRAFT FORM 990 INCLUDING SUPPLEMENTAL SCHEDULES, IS PROVIDED TO THE FINANCE AND EXECUTIVE COMMITTEE FOR AN INITIAL REVEIW. THE FORM 990 AND SUPPLEMENTAL SCHEDULES WERE PRESENTED TO THE BOARD MEMBERS 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.