Professional Documents
Culture Documents
■D
a Vinci Science City will become a symbol for the economic
renaissance that has taken place in the Lehigh Valley over the past 20
years and the importance of STEM and the Arts to the region’s growth.
■T
he three major exhibit areas will showcase the region’s key economic
and environmental attributes:
• Science and Me – focusing on the human body and healthcare
advances
•S
cience and Technology – focusing on advanced manufacturing and
other high-tech businesses in the region.
•S
cience and Nature – focusing on the story of the Delaware River
Watershed, highlighting the regeneration of its Lehigh River,
and showcasing environmental projects throughout the region
spearheaded by businesses, colleges and universities, and non-profit
organizations.
Why Da Vinci Science City?
■ D
a Vinci Science City will be a regional hub for STEAM education
serving residents of all ages, but especially children.
■ It will help build a future workforce with the STEAM skills needed
for new and emerging roles in the innovation economy.
• Showcasing the wide range of STEM careers available in the
Lehigh Valley, and the skills needed to pursue these careers.
• Providing the Lehigh Valley with a Science Center on par with
Philadelphia’s Franklin Institute and Pittsburgh’s Carnegie
Science Center.
PROGRAM PLAN
World Class
A
Facility
A Strategic Site
A Major Public Plaza
TEM-Focused
S
Exhibits and
Programs
ontemporary
C
Visitor Amenities
A World Class Facility
■ Iconic Destination that will become a landmark for the Lehigh Valley
■ C
oncept Design developed by EHDD Architects
■ 130,000 Square Foot Building
■ 50,000 Square Feet of Exhibits
■ A Major Outdoor Public Plaza
A Strategic Site
■ A gateway to the City
■ A
t the nexus between
Easton’s bustling
downtown and its scenic
waterfront
■ E
asily reached via the
region’s major highways
■ A
djacent to downtown
shops, restaurants and
attractions.
■ A
ccessible to adjacent
greenways and blueways
for related outdoor
programs
A Major Public Plaza
■ A Sizable New Park-like Public Space
■ A
n Urban Wetland with
Interactive Exhibits
■ D
esigned for Resiliency and
Flood Mitigation
STEM-Focused Exhibits and Programs
Consumer Study
Concept Testing
ttendance
A
Potential
xternal
E
Assessment
Consumer Research Study
■ Individual programmatic
components of the experience were
tested to determine the relative
interest of these topics among
consumers.
■ T
he overall appeal of the Science
City concept was very strong, with
the 100-Foot-Tall Walk-Through
Human Body and the Forest at
Night being the most highly rated
experiences.
■ T
here was no measurable price
resistance noted for a base ticket
price in the $20 - $25 range.
Concept Testing Results
• High quality, signature visitor experiences and exhibits, some of which are
Concept
unique and will allow for some differentiation from regional competition
• Live animals popular draw
• Iconic and appealing architecture
•T o attract wide variety of visitors, including families with children, millennials,
and adults.
• Temporary exhibitions gallery large enough for blockbusters
• Event spaces- benefit museum economics and appeal to various market
segments (i.e. millennials, adults)
• Sufficient capital budget
• Concept preliminary and execution of certain technologies may be challenging
and or are not yet well defined
Capital Cost
Funding Plan
Financing Plan
ro-forma Income
P
Statement
Key Metrics
Capital Cost
CONSTRUCTION AMOUNT
CATEGORY ($MM)
■ W
e have retained PFM as financial counsel
to develop a financing plan for the project.
■ T
he financing plan will not include any
long-term debt that is not covered by
firm capital commitments to the project.
■ P
FM will present a preliminary financing
plan in February 2019.
Pro-forma Income Statement
Stabilized Year of Operations
600,000 ANNUAL ATTENDANCE
Attendance-Drive Earned Revenue (Net) $11,698,972
Other Earned Revenue (Net) $1,320,688
Subtotal - Earned Revenue $13,019,660
Contributed Revenue (Net) $778,220
Total Revenue $13,797,880
Salary and Benefits Expenses $5,185,000
All Other Expenses $4,977,000
Total Expenses $10,162,000
EBITDA $3,635,880
Operating Debt Service $0
Capital Reserve $1,000,000
Operating Reserve $500,000
Net Income - Unrestricted $2,135,880
Pro-forma Income Statements
SENSITIVITY ANALYSIS
400,000 500,000 600,000
Visitors Visitors Visitors
Next Steps
roject
P
Schedule
ey
K
Milestones
Next Steps
October 2018 – September 2019
■ S
cience Center and City
of Easton enter into a
Development Agreement
(12/18)
■ A
rchitect Selected
(12/18)
■ P
reliminary Financing
Plan Developed (2/19)
■ S
ite Analysis and
Schematic Design
Completed (8/19)
■ F
inal Project Scope, Cost
and Phasing Determined
(9/19)
Project Schedule
■ F
inancing Plan Finalized
(September 2019)
■ F
inal Project Scope,
Cost and Phasing
(September 2019)
■ D
esign Development
Completed
(June 2020)
■ F
inancing Closed
(July 2020)
■ G
roundbreaking
(September 2020)
■ P
ublic Opening
(December 2022)