The vertex is at (h,k); the parabola opens upward if a>0 or downward if a<0.
You need to complete the square in x in order to be able to write the equation in that form.
Note the leading coefficient of 1 makes this example easier; we know immediately that the coefficient a in the vertex form is 1, so we can ignore it. Then [complete the square; half of 16 is 8; 8 squared is 64. Then since you added 64 inside the parentheses you need to subtract 64 outside]
This is vertex form. The vertex (minimum value of the function) is at (-8,10).