The good we secure for ourselves is precarious and uncertain until it is
secured for all of us and incorporated into our common life.
Jane Addams
Prepared For
The Fossil Groups Community Engagement Committee
Kosta N. Kartsotis, Chairman and CEO Dennis R. Secor, CFO
Prepared by
Garrett Jensen Juan Rodrigues Michelle Hoffmann Nicholas Ciolino
July 18, 2014
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Table of Contents
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Introduction At Fossil, we are proud of the entrepreneurial culture we promote among our staff around the world. In fact, passion is the key to entrepreneurship, and we have a history of being a passion- driven organization. But we know the encouragement of our employees isnt enough: through the Fossil Foundation, we have successfully created several programs that work to be a positive change in the world. We have developed partnerships with remarkable groups and individuals who address social problems with pioneering, entrepreneurial solutions. Our foundations mission is to unleash human potential by accelerating and scaling the world of social entrepreneurs whose innovations empower vulnerable young people (Fossil Group, 2014). We are proud to say that our work through the Fossil Foundation has successfully accomplished this around the globe, but we want to continue this work in our own community.
That is why we are thrilled to participate in the Businesses Give Back competition sponsored by the Dallas Chamber of Commerce. Our headquarters is located in Richardson, TX, so we decided to focus on this area. Fostering social entrepreneurship in Richardson will benefit the young people around us in a way that is consistent with our core values. It is obvious that youth are a vital part of the community in Richardson. We are home to The University of Texas at Dallas, and in 2009 Bloomberg Weekly named our city as one of the best places to raise a child in Texas (Gopal, 2009).
Richardson is a city that has a vibrant history of development, moving from a quaint suburb of Dallas into a commercial center employing over 88,000 workers daily. Unfortunately this growth peaked in the 1980s and we have since been faced with the problems of urbanization (City of Richardson, 2014). However, our community is choosing to combat these troubles by encouraging engagement from residents and businesses. Recently, a strategy for redevelopment and revitalization of Main Street and the Central Expressway Corridor was employed by voters (City of Richardson, 2014). Because Richardson is currently in the process of revitalizing key neighborhoods, we feel that this competition gives Fossil the prime opportunity to play a role in maintaining a strong community. One of the zones slated for redevelopment is the Main Street/Old Town District, an area containing Richardsons original downtown as well as the new DART Railway station and access to the Central Expressway Corridor (City of Richardson, 2014). Figure 1 highlights the areas need for general enhancement as it explains that the streets in this zone are over forty years old (City of Richardson, 2014, p. 15). We feel that this location, with its eclectic mixture of old and new, has potential to become a multi-generational heart of the community and. It is the perfect home for a park.
Our Mission The greatest gifts we can give to todays young people are the confidence and means to determine their own futures. Fossil aims to foster the innovative spirit of young people in our community through the social implications of urban design. We want to inspire and empower young leaders to solve social problems and increase sustainability. Through partnerships with community leaders, Fossil will champion young peoples causes and enable them to ultimately
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become champions themselves. We look forward to working with and learning from these remarkable young leaders. At Fossil, we believe that These young minds are the future of our schools, companies and governmentswe believe investing in youth is the smartest investment we can make (Fossil Group, 2014).
Figure 1 Image of Residential Street Age Distribution. Adapted from the City of Richardson Bond Election Document. (2010). www.cor.net, 15. Retrieved July 13, 2014 from https://www.cor.net/modules/showdocument.aspx?documentid=3068
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Background
One of the main problems of urbanization that Richardson has been faced with is a lack of land for new development. Over 90% of land has been developed, and vacant land within the city is becoming more and more scarce (City of Richardson, 2009, p. 34). Also, many of the areas that were previously developed are in need of improvement because of wear and tear (City of Richardson, 2014). Looking forward, the Citys future growth is likely to focus on the proper use of the small amount of vacant land that remains and on the redevelopment of older areas of the city. The community has addressed this problem in many of the traditional ways, including the establishment of a Comprehensive Plan that employs tactics such as updating zoning and design regulations and the improvement of infrastructure. In other cities, successful projects, like New Yorks High Line Park and Torontos Underpass Park, are renewing public attention to the latent assets sitting untapped in urban areas (Berg, 2011).
Possibly the most under-utilized area of Richardsons Main Street/Old Town District is the land located underneath the DART railway overpass at the intersection of Main Street and S. Texas Street. As you can see in Figure 2, it is simply a dead space.
We feel that the lens of social entrepreneurship, particularly through young minds, can bring an innovative perspective to this site. Essentially, parks are the catalysts of community revitalization- they build community inside and around the park by providing a safe place for children to play, a comfortable place for socialization, a place to experience the benefits of physical activity, and an increase in sustainability (The National Recreation and Park Association, 2011). Through the creation of a park at this site, a portion of the Main Street/Old Town District
Image of underpass. Adapted from Google Maps, (2014). www.google.com/maps, Google. Retrieved July 13, 2014 from https://www.google.com/maps/@32.949399,6.731568,3a,75y,293.13h,86.81t/data=!3m4!1e1!3m2!1s2_Ww3b 9fCtXGsfXg4DKzlQ!2e0
Figure 2
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will be reborn as a more inviting public space complete with trees, seating areas and walking paths. Why Are Parks Beneficial?
Ultimately, we believe that children are the future and it is important that we begin to invest in that future today. In order to empower young minds to unleash their full potential, we must minimize their use of video games and electronics. Recent surveys suggest that kids spend roughly 50 hours per week playing on electronic devices; that's a full time job with plenty of overtime (Oskin, 2012). In order to divert the attention of young minds towards exercise and play rather than electronics, we must provide that which has been lacking in heavily populated urban areas throughout the country: a city park. Richardson does have a reputation for maintaining and promoting its parks; however, a park in downtown Richardson would greatly benefit the children, residents, and employees while allowing fossil put their own stamp on the city.
A 2012 study conducted in the state of Texas revealed that 15.6% of adolescents and 16.8% of children aged two to five were considered overweight while 13.6% and 15.3%, respectively, were considered obese (CDC, 2012). Furthermore, the study revealed that 72.8 percent of our youth are not being physically active for the minimum of 60 minutes while 16% chose not to participate in physical activity at all (CDC, 2012). Building a park in downtown Richardson would ensure that children in the community have a place to run wild. The addition of the park will not only ensure that the kids are physically active, but it will decrease the health risks associated with childhood obesity such as diabetes, high blood pressure, and asthma (CDC, 2012).
Children are not the only ones who benefit from the addition of the park and they're not the only ones susceptible to the risks associated with obesity. It is estimated that 65.9% of adults in Texas are overweight and 27.7% are obese (CDC, 2012). Chances are, the addition of this park will not allow adults to increasing their daily physical activities by running through the playground, but it does give them a place to go on a leisurely walk. Walking may not seem like much of an exercise, but simply incorporating it into your daily physical routine will help reduce the risk of stroke, deflect diabetes, reduce the pain associated with fibromyalgia, and help reduce stress levels after a tough day (Zerbe, 2010).
The other benefit of building a city park in the Main Street/Old Town District is giving adults a place to socialize. Most adults that go to the park do so in order to allow their little ones to play and interact with other children. Meanwhile, while the kids are at play, adults have to opportunity to socialize with other parents and neighbors creating special bonds within the community. The bonds created during social hours at the park can provide long lasting friendships and can bring the members of the community even closer.
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Proposal/Plan
In the spirit of community involvement, Fossil will host an urban design competition for students at The University of Texas at Dallas. The Fossil Urban Design Challenge will offer undergraduate students the chance to devise a comprehensive design and development program for a real, large-scale site... (Urban Land Institute, 2014). Groups of three or more students will have a little over four months, the 2014 Fall semester, to design a park under the DART overpass in Richardsons Main Street sub-district. See Figure 3 for inspiration. A main feature of the park will be a Fossil clock tower; however more details about the contest are outlined in our plan. We will be announcing the winner of the competition at the groundbreaking ceremony, hosted by Fossil at the end of the semester. The grand opening of the park will be held one year from the ceremony. A panel of Fossils top executives, along with city designers, will choose the winning three plans. The park will contain a plaque with the names of the students who created the winning design. Those individuals will also be offered a guaranteed internship at Fossils headquarters in Richardson.
The Fossil Urban Design Challenge is part of Fossils effort to raise interest and increase awareness among young people in creating better communities. This opportunity will allow Fossil to give back to the community, accelerating innovative initiatives in education, life skills training and workforce development... (Fossil Group, 2014). We want to provide urban design Image of Torontos Underpass Park adapted from Tenplusone.com , (2013). www.tenplusone.com . Retrieved July 21, 2014 from http://www.tenplusone.com/outdoor/found-underpass-park-toronto/ Figure 3
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students with an opportunity to enhance their career potential through practical application of their skills. The city of Richardson is currently experiencing rejuvenation, and this makes it the perfect time to become active in our community. A park located under the DART overpass solves some of problems that accompany urbanization: a lack of trees, benches, and tables. Parks act to define the shape and feel of a city and its neighborhoods, essential elements in maintaining a strong community. Placing the Fossil clock tower in this location acts as a landmark and resembles a point of pride for residents.
Partnership Opportunities
The Fossil Urban Design challenge will provide Fossil with an opportunity to create lasting relationships with some of our local establishments. We will be working with the Dallas Chamber of Commerce, the city of Richardson, and The University of Texas at Dallas. The Chamber of Commerce will be sponsoring the event through their Businesses Give Back competition, which we have chosen to participate in. The Chamber will be providing half of the funds for the competition. We will also be teaming up with the city of Richardson. The city has decided to finance $66 million for community development through their bond package program. Specifically, $22.645 million will be provided for parks and recreational facilities. The teams of students designing the park will be undergraduate students at The University of Texas at Dallas. The students participating will be from The School of Economic, Political and Policy Sciences. This specific school of UT Dallas provides students with an opportunity to learn about our society and economy, (University of Texas at Dallas, 2013) then to apply that knowledge once they graduate. These students will become leaders in the advancement of positive change on a local, national or global level (University of Texas at Dallas, 2013). With the sponsorship from the Chamber of Commerce and the city of Richardsons bond contribution, we ask for $109,226.28 from Fossil to proceed and complete the project.
Whats In It for Fossil?
Fossil has been a presence in the community since relocating its headquarters to Richardson in 2011 and employing 1100 people in the city and surrounding areas (Brown, 2011). By helping build a city park in the city it resides in, Fossil would continue its tradition of giving back to the community and promote goodwill throughout the city. Aside from promoting goodwill and giving back to the community, this is a great opportunity for Fossil to put its stamp on the city. The Richardson City Park will be built on the underpass of the Dallas Area Rapid Transit (DART) rail station and park goers who travel there via DART must be able to manage their time appropriately. The clock tower that will stand tall inside the park will not only tell park goers the time, but will bear the Fossil logo promoting brand awareness and great advertising.
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Contest Rules
The Fossil Urban Design Challenge will be held exclusively for The University of Texas at Dallas (UTD) students from September 1, 2014 through December 11, 2014.
Who can enter? All UTD students who are attended classes during the 2014 Academic Calendar. For more information, visit https://fossilurbandesignchallenge.org.
What is the Contest? A competition in which students design a park in downtown Richardson under the DART overpass. The park will be built according to winning design entry specifications. All entries must stay within indicated guidelines such as budget and area of the park and must include specifications for the Fossil Clock Tower. For all information concerning design details visit https://fossilurbandesignchallenge.org/designdetails
When is the Contest? The design submittal period will begin on September 1, 2014 and all design entries must be received by November 30, 2014. Winning design will be announced at the UTD campus on December 11, 2014
How to enter? Submit all entries to fudc2014@utdallas.edu and include the official entry form. Form can be found at https://fossilurbandesignchallenge.org/entryform
Why enter? Make an impact on the community and the children by the designing the park in downtown Richardson. Park will be built according to winning design specifications; not to mention, it looks good on your resume.
Winning Prize Students continuing their education past the 2014 academic year will receive a full scholarship through the remainder of their academic career. All students graduating in the Fall of 2014 will receive a paid one year internship with Fossil as an Associate Architect for Fossil Design.
All Entries are Subject to General Conditions indicated in the General Conditions.
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Marketing
Since we are partnering with the city of Richardson and The University of Texas at Dallas (UTD), it makes the most sense to promote the event locally. Due to the design competition that we are having at UTD, it is essential that we get word out to as many students as possible; therefore, we will be promoting the event through resources offered to the students. We will be advertising the event by placing ads in the Comet Cruiser (The free bus service offered by UTD) as well as the campus magazine, The Mercury.
Advertising through the Comet Cruiser can be done through banner ads and grab handle ads at a price of $20 and $10 respectively (UTD, 2013). Since there are five cruisers circulating the campus, a minimum of five banner and handle ads must be purchased in order to ensure full exposure. Advertising for the event will run from September 1, 2014 to November 30, 2014, so ads would need to be up for three months in order to ensure full participation for the design competition.
Contest promotions will also be done through The Mercury for the three month duration of the competition. On campus rates run at five dollars per column inch and the price for the one-half page ad that we will be running will cost $150 per month (The Mercury, 2014).
Once the design competition is completed and the winning group has been announced, we will take a one-half page ad in the Dallas Morning News. This ad will announce the winners of the contest to the Dallas/Ft. Worth area and inform the residents in Richardson of the changes to come. The ad on the Dallas Morning News will be printed in the Sunday newspaper and will total $552.55.
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Groundbreaking Ceremony
The ground-breaking ceremony will be held at The University of Texas at Dallas on December 11, 2014 in order to announce the contest winners. Fossil employees and volunteers will arrive promptly at 9:00 am in order to begin the setup for the days events. The set-up will consist of tents and displays that will be used to promote current and upcoming Fossil products as well as conduct on the spot interviews for qualified job applicants. Once set-up is complete, we will give a brief speech to inform students why we are there and get the day started. The winning team will be announced at 2:00 pm and will begin to close up shop promptly at 3:00 pm.
Schedule of Events
Time Event 9:00 AM Set up shop 10:00 AM Company presentation & why were here 11:00 AM Promoting Fossils new products 12:00 PM Catered company lunch for students 01:00 PM On the spot interviews for employment 02:00 PM Announcement of winning team 03:00 PM Break down tents and close up shop
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Project Timeline
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Staffing/Budget During the planning of our project we thought it was very important to manage a realistic budget. We have accomplished this by partnering with UTD to offset the staffing costs associated with such a project. The University of Texas at Dallas has many campus clubs who jumped at the chance of participating in such a multilateral project. The UTD clubs are: Entrepreneurs club DECA club SNAP photography club.
By partnering with UTD and its clubs we will be afforded the knowledge and workforce necessary to accomplish this remarkable project at no cost. This opportunity gives Fossil a chance to grow its network with UTDs clubs and organizations, and begin to foster relationships with students and faculty for the future.
Staffing Ground Breaking Ceremony Number of volunteers Hours Total Cost Winning Team 4 3 12 0 SNAP Club Photographer/UTD Mercury Photographer 2 3 6 0 Project coordinator (DECA Club) 1 10 10 0 Grand opening of the park 0 UTD Entrepreneurs club 10 3 30 0 Winning Team 4 3 12 0 Project coordinator (DECA Club) 1 10 10 0 SNAP Club Photographer/UTD Mercury Photographer 2 3 6 0
Staffing Total: $0
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Project Budget
Advertisement Source Method Quantit y Price/Mon th Number of months Cost UTD Bus Banner Ads 5 $20.00 3 $300 UTD Bus Grab handles 5 $10.00 3 $150 UTD Magazine: The Mercury Half Page Ad 1 $150 3 $450 Dallas Morning News Sunday Edition Half Page Ad 1 $552.55 1 $552.55
Advertising Total: $1,452.55
Park Construction Expense Cost Clock Tower $25,000 Construction $965,000
Construction Total: $990,000
Stipend Provided for Students completion of school. Monthly Stipend Number of years Number of monthly stipend Cost $12,000 per year ($1000 month) 4 4 $192,000
Stipend Total: $192,000
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Financial Contributions Richardson Bond $965,000.00 Dallas Chamber of Commerce Contribution $109,226.27 Fossil Contribution $109,226.28
Total Budget: $1,183,452.55
Total Capital Required from Fossil Fossil Contribution $109,226.28
$965,000.00 $109,226.27 $109,226.28 Financial Contribution Pie Chart The City of Richardson Bond Dallas Chamber of Commerce Contribution Fossil Contribution
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Authorization Request
Senior Partners, our restoration program aims to engage young aspiring entrepreneurs within our community. It is our goal to provide an opportunity for these young future leaders to take a vested interest in preserving the community of which they belong. By hosting a competition at The University of Texas at Dallas, students will be given the opportunity to create a park l ocated underneath the DART railway overpass at the intersection of Main Street and S. Texas Street. This will offer residents and Dart transients a place to relax and enjoy themselves during leisure or in between travel. By creating the Fossil Park, we will gain the trust of community leaders, and citizens alike. This opportunity will allow Fossil to give back to the community where it is headquartered, and truly live up to our mission statement.
We are seeking $109,226.28 to build the park the UT Dallas students create. The park will have a plaque on site with the names of the students who create the winning design and we would like to offer the team of students a guaranteed internship at our flagship location in Richardson if they so desire. Join us in facilitating this amazing opportunity.
Signature:________________________________________ Date:___________________ Kosta N. Kartsotis (Chairman and Chief Executive Officer)
Signature:________________________________________ Date:___________________ Dennis R. Secor (Chief Financial Officer, Executive Vice President and Treasurer, Principal Accounting Officer)