2000-266H - Laserfiche WebLink

Home Browse Search

i 40 f pursuant to which the Dodgers will lease Dodgertown From the County for a period of not less than 20 years, with four (4) five (5) year renewal options, and (ii) the County and the Dodgers will enter f into a development agreement pursuant to which the Dodgers will oversee the construction of new spring training practice fields, and rehabilitation of tite existing housing units, conference center, practice fields and Holman Stadium. In conjunction with the County's acquisition of Dodgertown, the Developer, using solely private funds, is acquiring approximately 60 acres of land adjoining Dodgertown from the Dodgers and Fox. It is contemplated by the Memorandum that the Developer will develop these lands into a "mini -town" consisting of hotel and conference facilities, multi -family residential rental housing, retail stores and entertainment facilities. This new development will have a look that embodies the theme of Dodgertown in order to provide a consistent overall appearance of the two facilities. However, other than coordinating; the appearance of the new mini -town and Dodgertown, these two projects are otherwise unrelated. Application Statement By this application, the County seeks certification of Dodgertown as a retained spring training i franchise facility and requests the full monthly allotment of funds available under Rouse Bill 1439 (Section 288.1162, Nonda Statutes), in the amount of $41,667 per month for 30 years (360 months) These funds will be pledged by the County to the repayment of its revenue bonds (the "Bonds"), the proceeds of which will be used to acquire Dodgertown and finance the costs of the improvements and rehabilitations to be completed at Dodgertown. Description of Transaction Documents The complete set of copies of each of the executed Agreements between the County, the Dodgers, Fox, the City and the Developer are attached to this Application in the appendix under Tabs "A" through "H". The following is a list and general description of each of the Agreements. Each Agreement is separately tabbed in tite appendix as indicated: Tab "A": Memorandum of Understanding between the County, the City, the Dodgers, Fox and the Developer, dated as of July 24, 2000 (tire "Memorandum"). The purpose of the Memorandum is to set forth the overall understanding the parties involved in the transaction. As such, the Memorandum speaks to the County's acquisition of Dodgettown and the Developer's acquisition of certain adjacent lands on which it will build a new "mini -town" using solely private rands. In addition to the condition that f Dodgertown be certified by the State as a retained spring training franchise Facility, ;- it also envisions certain additional contingencies such as site plan approval for the f improvements at Dodgertown as well as the new "mini -town" project. 1,. i 1-2