Hockey-coach founder · 2.5+ years pre-development · originator, developer, and operator of record. Project sponsorship runs through Hockey Insight Development LLC ("HID") — the Operating Partnership in formation. Sponsor compensation framework below reflects opening structure for LP-counsel review and final negotiation.
| Item | Structure | Notes |
|---|---|---|
| Pre-Dev Sponsor Draw | $15K/mo (floor) · $18K/mo (ask) | 36-month base term · standalone (NOT credited against Master Developer Fee). Repaid from Master Dev Fee at LP close if outside ~24-month original term. |
| Mobilization Fee | $75K · one-time at CoDev execution | Pre-development project cost · funds initial entitlement + counsel + diligence work. |
| Master Developer Fee | 4.0% of TDC = ~$13.76M | Milestone-based draw schedule per lender-approved construction schedule · senior project cost · subject to final LP/lender approval. Compensates end-to-end origination · entitlement · capital structuring · construction oversight · brand/franchise relationship management for the integrated mixed-use sports + hospitality campus. |
| Full-Funding Retainer | Credited against Master Developer Fee | Construction-period draw · funds Sponsor time during construction · NOT additional to dev fee. |
| Future Phase Fee | Market-based · separately negotiated per phase | Phase 2 (Graf Rink luxury conference hotel) · Phase 3 (future markets · per Lead Investor ROFR). Fee structure calibrated to actual scope + market rate at each phase initiation. |
| Incentive Procurement Fee | 5% above $22M base public-incentive underwriting · capped | Success-based · paid only on realized public-stack value above the underwritten base case (Mass Save VRF · IRA · MA SMART · OZ 2.0 · TIF · MassDevelopment · MassWorks). Pure value-creation alignment with LP returns. |
| Asset Management Fee | 1.0 – 1.5% of LP committed equity (annual) | Below the PREA opportunistic CRE benchmark of ~1.5%. For-cause-only removal · termination fee structure protects both sides. Performance incentive on EBITDA outperformance. |
| Campus Operations Mgmt Fee | Market-based on owner-operated revenue · ex-hotel · ex-NNN | Base + NOI-contingent incentive. Hotel revenue managed by separate third-party HMA operator (selected via RFP at PreDev close) and excluded from this fee base. |
| Sponsorship Economics | Sourced-account commission + above-budget upside share | Tiered Y1/renewals/naming success commission on Sponsor-sourced new accounts only · zero on house accounts. Plus upside share on net sponsorship revenue exceeding LP-approved annual budget. Pure incremental alignment. |
| Pro Shop / Affiliate Agreements | Market terms · independent appraisal · Audit Committee approval | Related-party arms-length defense framework: independent appraisal at lease execution · tax counsel review · annual Audit Committee disclosure + attestation. |
| Sponsor Promote | Per LP waterfall · subject to final docs | Tiered structure above LP preferred return + LP MOIC threshold · contingent on LP achieving target returns · LP wealth event coincides with promote crystallization. Final mechanics in LP partnership agreement. |
| Hospitality & Relationship Budget | Project-owned · annual budget · Audit Committee oversight | Strategic infrastructure for institutional relationship building (LP cultivation · naming/anchor tenant relationships · government relations · Phase 2/3 pursuit). Personal-use portion §61-imputed at FMV. |
| Foundation / Community Commitments | Separate mission framework · counsel-reviewed | Contractual % of HID gross revenue to The District Community Foundation 501(c)(3) · staged ramp aligned with project stabilization · binding LP partnership commitments. See Mission Posture below. |