Conducting a feasibility study

In 3-4 pages with 3-4 references answer the following:
Congratulations! You have been put in charge of determining the feasibility of renovating a 50-year-old local recreation facility that includes four multipurpose courts, a fitness center, and a swimming pool/aquatic center. Discuss what would be involved in conducting a feasibility study to determine whether renovation is the correct way to go or whether the facility should be torn down and a new one built. Include in your report a cost estimate for a new facility versus renovating the facility. What would your ultimate decision beâ renovate or tear down and rebuild? Defend your answer.