Title
Approval of the Capital Improvement Plan submitted by the St. Paul Saints identifying Capital Improvements to be performed at the Ballpark as part of the Saints’ Triple-A affiliation with the Minnesota Twins, authorizing the use of Capital Expediture Funds in an amount not to exceed $275,000, and amending the spending and financing budget in the Lowertown Ballpark Fund.
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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necessary to keep the Ballpark in a first-class condition and to prevent the Ballpark from becoming materially outdated or obsolete; and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, that 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 $475,000, 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League standards, keep the Ballpark in a first-class condition, and to prevent the Ballpark from becoming materially outdated or obsolete; and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 $275,000 from the Cap. Ex. Fund for certain eligible Capital Improvements, said requested funds being part of a larger investment of nearly $5...
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