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2009-072
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2009-072
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Last modified
6/28/2024 11:23:45 AM
Creation date
9/30/2015 5:48:12 PM
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Resolutions
Resolution Number
2009-072
Approved Date
05/19/2009
Agenda Item Number
11.A.
Resolution Type
Agreement
Entity Name
Dodgertown
Minor League Baseball (MiLB Vero Beach LLC – Pat O’Connor)
Subject
Facility Lease Agreement
Supplemental fields
SmeadsoftID
6298
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(a) The County will pay MiLB up to a total of $100,000.00 (one hundred <br />thousand dollars) towards "rebranding" the Facility as a facility operated by MiLB. These <br />funds will be paid or advanced based upon actual and verifiable costs presented by MiLB. <br />Rebranding will include banners, signage and paint schemes as determined by MiLB. <br />(c) The County will not object to MiLB using the common or historical name <br />"Dodgertown" in operating the Facility. In agreeing to this use, MiLB acknowledges that <br />neither the City nor the County has made any representation that either holds or possesses <br />any rights to the use of the name "Dodgertown", or that either has the authority to <br />authorize such use. <br />ARTICLE VIII <br />CAPITAL IMPROVEMENTS AND REPAIR <br />Section 8.01. Capital Reserve Account. During the Term (until depleted), the County <br />shall establish a trust account with a depository (the "Capital Reserve Account") in which County <br />Funds shall be deposited pursuant to the Capital Reserve Account Agreement. The Capital <br />Reserve Account shall be funded and maintained in accordance with the provisions of the Capital <br />Reserve Account Agreement. All funds in the Capital Reserve Account shall be County Funds. <br />All withdrawals from the Capital Reserve Account shall require the co -signature of the County <br />Administrator or his designee. The Capital Reserve Account shall be used by MiLB in making <br />Repairs and Replacements to the Facility. MiLB shall consult with the County with respect to <br />any expenditure from the Capital Reserve Account and any such expenditure shall be subject to <br />the approval of the County, which approval will not be unreasonably withheld and shall be <br />granted in accordance with the Capital Reserve Account Agreement. Any amounts remaining in <br />the Capital Reserve Account at the expiration of the Term or earlier termination of this <br />Agreement shall be paid to the County. MiLB shall be solely responsible for the cost of any <br />Repairs or Replacements which exceed the funds available in the Capital Reserve Account and <br />any applicable available insurance proceeds from policies of insurance provided at MiLB's <br />expense. <br />Section 8.02. Contributions to the Capital Reserve Account. On or before the Effective <br />Date, or such later date as may be mutually agreed to by the parties, the County shall deposit into <br />the Capital Reserve Account the sum of $2,000,000. <br />Page 15 of 29 <br />(b) <br />At all times during the Term, neither the County nor MiLB shall have the <br />right to <br />sell <br />naming rights to Holman <br />Stadium; and neither the County nor MiLB shall <br />change <br />the <br />name of Holman Stadium. <br />MiLB shall not change the name of any other <br />portion <br />of the <br />Facility without the prior <br />review and consent of the County, which consent <br />shall not be <br />unreasonably withheld. <br />(c) The County will not object to MiLB using the common or historical name <br />"Dodgertown" in operating the Facility. In agreeing to this use, MiLB acknowledges that <br />neither the City nor the County has made any representation that either holds or possesses <br />any rights to the use of the name "Dodgertown", or that either has the authority to <br />authorize such use. <br />ARTICLE VIII <br />CAPITAL IMPROVEMENTS AND REPAIR <br />Section 8.01. Capital Reserve Account. During the Term (until depleted), the County <br />shall establish a trust account with a depository (the "Capital Reserve Account") in which County <br />Funds shall be deposited pursuant to the Capital Reserve Account Agreement. The Capital <br />Reserve Account shall be funded and maintained in accordance with the provisions of the Capital <br />Reserve Account Agreement. All funds in the Capital Reserve Account shall be County Funds. <br />All withdrawals from the Capital Reserve Account shall require the co -signature of the County <br />Administrator or his designee. The Capital Reserve Account shall be used by MiLB in making <br />Repairs and Replacements to the Facility. MiLB shall consult with the County with respect to <br />any expenditure from the Capital Reserve Account and any such expenditure shall be subject to <br />the approval of the County, which approval will not be unreasonably withheld and shall be <br />granted in accordance with the Capital Reserve Account Agreement. Any amounts remaining in <br />the Capital Reserve Account at the expiration of the Term or earlier termination of this <br />Agreement shall be paid to the County. MiLB shall be solely responsible for the cost of any <br />Repairs or Replacements which exceed the funds available in the Capital Reserve Account and <br />any applicable available insurance proceeds from policies of insurance provided at MiLB's <br />expense. <br />Section 8.02. Contributions to the Capital Reserve Account. On or before the Effective <br />Date, or such later date as may be mutually agreed to by the parties, the County shall deposit into <br />the Capital Reserve Account the sum of $2,000,000. <br />Page 15 of 29 <br />
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