Title
Amending the spending and financing budget in the Lowertown Ballpark Fund for capital improvements to be made by the Saints at the CHS Field Ballpark.
Body
WHEREAS, the St. Paul Saints Baseball Club (the “Saints”) and the City of Saint Paul (the “City”) are parties to a Ballpark Use Agreement (the “Use Agreement”), wherein the City grants the Saints the right to occupy and use the City’s Lowertown stadium, presently known as CHS Field (the “Ballpark”), subject to certain terms, conditions, and obligations, including the performance of Capital Improvements; and
WHEREAS, Capital Improvements include capital modifications, replacements, or additions to the Ballpark that are reasonably necessary to keep the Ballpark in a first-class condition and to prevent the Ballpark from becoming materially outdated or obsolete; and
WHEREAS, pursuant to the Use Agreement, the Saints make annual payments to the City that are deposited into a Ballpark Capital Expenditure Reserve Fund (the “Cap. Ex. Fund”) for the purpose of funding Capital Improvements to the Ballpark at the City’s sole discretion; and
WHEREAS, the Cap. Ex. Fund currently carries a balance of approximately $606,446, which funds are available upon request from the Saints for eligible Capital Improvements to the Ballpark; and
WHEREAS, the Saints, as part of its Triple-A affiliation with the Minnesota Twins, intend to make certain improvements to the Ballparks to meet League standards, keep the Ballpark in a first-class condition, and to prevent the Ballpark from becoming materially outdated or obsolete; and
WHEREAS, the Saints request up to $242,316 from the Cap. Ex. Fund for certain eligible Capital Improvements, including improvements to the video board control room and operational system upgrades, and additional foul screen netting to extend coverage from the right field foul pole to the left field foul pole; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation total revenues in excess of those estimated in the budget, funds of $242,316; now, therefore, be it
RESOLVED, by the Saint Paul City Council, as follows:
1. Cap. Ex. Funds in an amount not to exceed $242,316 are hereby authorized for Capital Improvements as part of the Saints’ Triple-A affiliation with the Minnesota Twins.
2. Upon recommendation of the Mayor that $242,316 is available for appropriation in the Parks department budget, as heretofore adopted by this Council, be hereby further amended in the particulars as specified in the attached financial analysis.
2. City Staff are hereby authorized to notify the Saints of the corresponding Cap. Ex. Fund budget authorization, and to take any additional action necessary to carry out this Resolution.
Financial Analysis
See Attachment.