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YFAC revenues trimmed; retail operator named and room tax projected up 6% for FY2026
Summary
Staff said FY2026 revenues for the Young Family Athletic Center (YFAC) are projected to fall about 20% from FY25 receipts; city expects retail space to come online within weeks with Kyle Allison as the operator and a $25,000 annual lease, while room tax revenue is projected to rise 6%.
Miss Kim told the council that the Young Family Athletic Center fund will see reduced revenue projections for FY2026, down roughly 20% from FY2025 receipts, and that city staff adjusted forecasts after observing actual 2025 performance.
Kim said the 122,000-square-foot YFAC (which opened in 2024) has five full-time and 22 part-time employees; concession and retail space is operational or coming online soon, and staff named Kyle Allison as the retail operator. City staff said the operator arranged interior build-out costing roughly $300,000 and the city expects a $25,000 annual lease plus sales tax reporting from retail and concession tenants.
On room tax, Kim said the 8% rate approved in 2023 is producing higher collections and FY2026 projections are about 6% above 2025 levels with a projected FY2026 ending fund balance of $724,000 reserved largely for park development.
Council members asked for timing and more detail on sales tax attribution from tournaments and retail; staff suggested staff analysis linking tournament schedules to city-wide sales tax trends would be possible after a year of data.
