TechPlay
green can be greener…
with our proprietary TechPlay initiative.
The need for this program was first identified through our stadia design and funding work because of environmental sensitivities like light noise and energy conservation values and requirements of surrounding neighborhoods and sponsoring communities. We are also seeking viable, measurable charitable ventures that might prove to be excellent candidates for social impact funding, a rapidly emerging field of practice in the high and ultra high net worth communities, especially with oversight from participating Family Offices, trusts, private family foundations and relevant regulatory bodies.
We know from first-hand experience gained over the past two decades that lights for sports venues, for example, are extremely expensive and one of the first elements that are budget cut when it comes to projects like municipal recreation complexes and other publicly-owned venues, whether one plays football, baseball, soccer, lacrosse, tennis, or other sport. We have noticed a trend in recent years that for-profit ventures are struggling with these ever-escalating costs as well.
Powering sports complexes through traditional energy providers is even more expensive, on top of the approximately $60,000 per light stand it takes to erect a tower on the lower quality end even. When one considers that there is an average of four light stands per playing field, which generally equates to a $240,000 direct construction expense before daily operations which are also high given the inferior bulb and light pole efficiencies, the expense to a project is daunting.
TechPlay is our proposed solution to the need for more communities to save energy costs, reduce environmental noise from resulting light pollution, and at the same time entertain invited guests with a proprietary projection display of moving images and art that makes the facility more unique and revenue generating.
This Initiative is structured as public-private partnership and was designed to be at least 60% (sixty percent) owned by charitable ventures including a university partner with significant engineering capabilities, and 40% (forty percent) owned by a for-profit group consisting of industry experts, designers and operating executives. This structure permits government participation but shifts the burden for paying for these services to the charitable sector with for-profit participation through use fees and other acceptable revenue streams.
Six elements of current tax law encourage deeper non-profit ownership in for-profit ventures, which makes this Initiative a potentially enabling project for many different players in the market and industry. Among these elements, current tax law requires a number of different features, including that fair market value be paid for all related services by all parties (not discounted services); separate entities must operate the venture but have separate controlling boards; there must be measurable public benefit of the venture with the focus not on making money necessarily although making money is permitted; and, more. The TechPlay venture is thus permitted, under the proper structure and oversight, to be paid for by 100% charitable dollars if it indeed meets six elements at a minimum.
Our TechPlay initiative has significant public benefit in reducing light “noise” in neighborhoods and being particularly green friendly in energy efficiency through lighting and other power features. Despite the technology improvements we can still offer light stands at the current $60,000 price point most every municipality is used incurring because of our unique and efficient design and production investments that can be made through related charitable investments. Retrofitting and new construction can be paid for by local charitable investments through principal gifts, social impact funds, program related investments, pension and trust investments, government grants, corporate cause-related marketing, sponsorship, operations, field use fees, and more.
The business plan for this Initiative predicts that up to fifty communities in the United States might participate in this public private partnership, with pilot projects to demonstrate technology in up to three key communities. Such funding platforms would enable the design, construction and sustained operations of up to 40 playing fields throughout the participating city, which is about 10% (10 percent) of those fields sought for this Initiative in targeted communities.
The Initiative has also been entertaining the potential of seeking a supplementary PRI pilot with the federal government that would provide annual grants for five years or more for additional field retro-fitting if the Initiative does not put the principal of the pilot at risk and uses interest generated off of the PRI fund only instead, which could fund lights in cities where the direct philanthropy is not readily available.
If you would like to learn more about this citizenship project, this green American initiative, just let us know through the link below. We look forward to talking to you: