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Lucas County Commissioners and Mud Hens Board Sign New Ballpark Lease
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Lucas County Commissioners and Mud Hens Board Sign New Ballpark Lease
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Lucas County Commissioners and the Toledo Mud Hens Board of Trustees signed a new
lease agreement today for the new Lucas County Ballpark under construction in downtown
Toledo. The ballpark will become the new home of the Mud Hens in April of 2002, when the
team begins play there.
The new lease reflects the evolving relationship between the commission and the Mud
Hens, as the new ballpark replaces the aging Ned Skeldon Stadium. "We are entering the new
age of a publicly-financed ballpark as stronger partners," said Sandy Isenberg, President of the
Lucas County Board of Commissioners. "While the fine nature of the general relationship of
years past won't change, this new lease agreement reflects the multi-million dollar investment
the community is making in both the future of downtown Toledo and the Mud Hens as a local
attraction."
"The community may never realize how quickly and cooperatively both sides reached
consensus on this new lease," said Edwin Bergsmark, Chairman of the Mud Hens Board of
Trustees. "It is reflective of the effective public-private partnership we have forged over the
years."
The lease agreement was reached five months ahead of schedule. The timing of the lease
signing is very important, as commissioners head to New York next week to secure bond
financing to pay for construction of the new ballpark. "A favorable interest rate is key to saving
hundreds of thousands of dollars as we pay off the ballpark debt," said Commissioner Harry
Barlos. "The bond rating agencies will look more favorably on us with a signed lease in hand."
Excavation work has already begun on the ballpark site, bordered by Huron, St. Clair,
Washington and Monroe Streets. Concrete and steel structural work will begin in the next few
weeks. Passersby will begin to see the ballpark's steel skeleton take shape in the downtown
Toledo skyline by late spring or early summer.
"We remain committed to the community to construct a first-class ballpark that will present
attractive recreational and economic development opportunities in downtown Toledo," said
Commissioner Bill Copeland. "The new lease keeps everything moving on an aggressive
timetable."
The following are highlights of the lease agreement:
- Represents a 25-year commitment by Lucas County and the Mud Hens (Sec. 5.1)
- Mud Hens commit to a $14 million private contribution to the ballpark, including
proceeds from all Founders Suites and Naming Rights. That $14 million total also
includes paying debt service on $5 million of the ballpark bonds. (Sec. 6.2)
- Mud Hens' private financial commitment represents one of the largest private
contributions to a ballpark project in minor league history.
- The Lucas County Commissioners have the right to approve of any sale of the team
(Sec.16.3). However, in the lease, the Mud Hens commit to keep the team in Toledo
(Sec. 16.1)
- Lucas County will work to ensure that there are 3,500 parking spaces for $2 per car
within a quarter of a mile (roughly 4 blocks) of the ballpark (Sec. 4.7)
- Mud Hens will pay an average annual base rent of approximately $550,000 and the
entire proceeds from Founders Suite licenses and the sale of Naming Rights. (Sec.
6.5)Mud Hens will also pay all maintenance costs. (Sec. 6.3)
- Lucas County will also receive as additional rent all net income generated by the
team after expenses and reserves (Sec. 6.4)
- Lucas County and the Mud Hens will cooperate in actively seeking private
contributions for construction and operating expenses of the ballpark (Sec. 26.10)
- The Mud Hens will be responsible for all of the maintenance and capital repairs of the
ballpark (Sec. 10.1)
- The Mud Hens will manage and operate the ballpark (Secs. 8.1 and 8.4)
- Lucas County and the Mud Hens will cooperate to promote development around the
ballpark and to promote baseball in downtown Toledo (Secs. 26.11 and 27.22)
- Lucas County and the Mud Hens will continue to work jointly on all aspects of the
ballpark design and construction (Secs. 4.1, 4.3, 4.4)
- Lucas County and the Mud Hens have the right to promote community and special
events in the ballpark (Secs. 26.1 and 26.2)
An additional agreement gives Lucas County Commissioners final approval on any new
appointments to the Toledo Mud Hens Board. Those new board members will be appointed to
serve six-year terms. Current board members will begin serving staggered six-year terms, but can
be reappointed. Commissioners will also appoint one member to the Mud Hens Finance
Committee, who will participate and provide guidance to the team on fiscal matters.
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