Feasibility StudyBefore the economic impact of a facility can be determined, a feasibility study must be conducted to get community members excited about the facility . The purpose of a feasibility study is to “provide research information about the community, special interest groups, and their use as a decision-making tool in the community” (Farmer, Montgomery, Ammon, Jr. 12) . Essentially, this study aims to assure the community that the construction of sports facilities is suitable for them and that their money will not be wasted. This also lets them know why their area is best suited for installation. It also gives them non-economic influences such as civic pride in their team. If they have more than just economic reasons to approve the stadium, they won't need much more leverage to vote yes. The main points of the study should include the estimated economic benefits to the team and facility owner, short-term costs as well as long-term costs, losses and cultural or economic benefits to the community. The cost of the study generally amounts to approximately $0.08 per person in the community. (For example, 75,000 people = $6,000 cost) When conducting these studies, municipal offices must hire outside companies and specialists such as accountants and economists. These people will bring credibility to the studies, which will give a good impression to people in the community. The weakness of hiring these outside companies is that they work for themselves and may not understand what you are trying to do. If they don't understand how this is supposed to have a positive influence on your residents, they may not focus on the positives as much as the authorities would like. When financing for the facility needs to be determined, it puts the onus on city officials to figure out where the money they need will come from. They can appeal to the community, the teams owner, or hire a completely new owner for the building. Before a facility is built, it may be necessary to plan event dates in advance and collect deposits to help pay costs. construction. By immediately attracting an anchor tenant, many calendar dates will be filled and immediately attracting an anchor tenant will allow a good amount of money to be invested in the property's development funds. Additionally, setting dates for other events can help fund the installation..