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Foster City adopts business plan for $65M community center; consultants project rental revenue and staffing needs
Summary
Council adopted a business operations plan and pro forma for the new Foster City Community Center, which projects about 11.27 FTEs, higher rental revenue driven by the Lagoon Event Hall and a six‑year cost‑recovery estimate of about 57%. Council asked for market analysis and cautioned about budgeting.
The Foster City Council approved a business operations plan and financial pro forma for the new Foster City Community Center, a roughly $65 million facility that will replace the existing center and add rental and program space.
Consultant Michael Spetz of PROS Consulting presented the operational assumptions underpinning the plan, including projected staffing levels (about 11.27 full‑time equivalent…
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