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Back-up for Feb 2, 2021 item 12.17.1 Excerpt from 12/18/18 Item 1 LA. In order to expedite the roofing repairs mentioned above, Verotown will manage these projects (subject to oversight by the County), with funding provided by the County. County staff requests that the Board of County Commissioners waive the requirements for bids in order to allow for this procedurally, per the County Purchasing Code. Please note, the agreement does require the County to provide parking for large events. The documents recognize the County's Parking License Agreement with the City, and it is included as an Exhibit (Exhibit `B") to the Lease Agreement. The lease requires the County to provide 2,000 parking spaces in the event that the Parking License Agreement is terminated during the lease. This amount does not include the cost of acquiring the City golf course property. As you know, the County has offered to purchase the Golf Course Property from the City for $2.4 million, which has not been accepted by the City. In the event that the County purchases this parcel in the future, the County's total expenditure related to the facility would increase. County staff has also been working with the developers of Star Suites, which is the hotel that is currently under construction adjacent to Historic Dodgertown, to secure access to the property through Flight Safety Drive. We anticipate entering into an agreement to acquire ownership of Flight Safety Drive and the parcel to the South of the Star Suites, which has been utilized for many years to access Practice Fields 5 & 6. While the County has recently secured an access easement over Flight Safety Drive, the planned purchase will ensure final proper access/control of the facility entrance and the practice fields. Funding: As stated above, the County will be responsible for certain initial repairs or replacements to address some of the deferred maintenance items at the facility (County Improvements), as detailed below. As noted above, Verotown will manage the roofing projects, with County oversight, in an effort to expedite their completion. The estimated cost of these roof repairs and replacements is $2,225,000. It should be noted that last year's Capital Improvements .Program included $1,050,000 in funding for roofing replacements spread across FY 17/18, FY 18/19, and FY 19/20. The other County Improvements, as detailed below, are projected to cost $2.7 million and are to be completed within 3 years. This results in a total cost of County Improvements at $4.9 million. Verotown will be responsible to construct various initial improvements (Verotown Improvements) as detailed below. County Staff estimates the cost of these improvements at $10 million. Verotown will be eligible for reimbursement of 50% of these costs from the Capital Reserve Account. The County will contribute $800,000 per year to the Capital Reserve Account for the first five (5) years of the lease. In Year 6, the County contribution decreases to $400,000 per year thereafter (adjusted for inflation beginning in Year 7). Based upon these cost estimates, the Verotown Improvements will exhaust the Capital Reserve Account dollars for most of the initial 11 -year term. County Improvements 3Page - -- -- - ---- - 201