HomeMy WebLinkAboutID# 15-772 3rd Amendment Stadium Interim Manangement AgreementREPORT TO OVERSIGHT BOARD TO THE
SUCCESSOR AGENCY OF THE REDEVELOPMENT
AGENCY OF THE CITY OF LAKE ELSINORE
TO: CHAIRMAN OSTER AND
MEMBERS OF THE OVERSIGHT BOARD
FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL
DATE: SEPTEMBER 22, 2015
SUBJECT: Third Amendment (2016) To Stadium Interim Management Agreement
Recommendation
It is recommended that the Oversight Board approve and adopt:
Resolution No. OB -2015 -004 A RESOLUTION OF THE OVERSIGHT BOARD TO
THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF
LAKE ELSINORE APPROVING THE THIRD AMENDMENT (2016) TO THE STADIUM
INTERIM MANAGEMENT AGREEMENT BETWEEN THE SUCCESSOR AGENCY OF
THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE AND THE
LAKE ELSINORE STORM LP
Background
In 2001 and 2002, the Redevelopment Agency entered into certain agreements
involving the operation and maintenance of the Lake Elsinore Diamond Stadium,
including a License Agreement, a Stadium Field And Maintenance Agreement, and a
Concession License Agreement (collectively, the "Stadium Operations Contracts ").
Pursuant to the Stadium Operations Contracts, the Storm licensed and maintained the
Stadium for baseball games and other Storm events. An affiliate of the Storm, Golden
State Concessions and Catering, Inc. ( "Golden State "), operated the concessions at the
Stadium. Under the Stadium Operations Contracts, the Agency's management,
operation and maintenance costs were significant and the Stadium operated at a loss.
In 2005„ the Agency commenced negotiations with Diamond Stadium Group (DSG) to
undertake all of the Stadium operations, maintenance and management responsibilities.
Storm LP, Golden State and DSG share common controlling ownership. Negotiations
between the Agency and DSG resulted in June 2007 amendments to the Stadium
Operations Contracts and a new Stadium License, Lease and Management Agreement
(the "2007 Management Agreement ").
DSG fulfilled all aspects of the 2007 Management Agreement which reduced the
Agency's Stadium - related costs. However, DSG reported annual losses under the 2007
Management Agreement and in June 2011 chose to exercise its right to terminate the
Third Amendment (2016) to Interim Stadium Management Agreement
September 22, 2015
Page 2
2007 Management Agreement effective December 31, 2012. Upon termination of the
2007 Management Agreement, the rights and responsibilities for Stadium management,
operations and maintenance were again divided in accordance with the Stadium
Operations Contracts; however, at that time, the Successor Agency did not have the
resources to satisfactorily perform its obligations.
On December 11, 2012, the Successor Agency approved the Stadium Interim
Management Agreement ( "Interim Agreement ") to provide for the efficient and cost
effective management, maintenance and operation of the Stadium by the Storm through
2013. A First Amendment to the Interim Agreement was approved in September 2013.
A Second Amendment to the Interim Agreement was approved in September 2014. The
State Department of Finance has approved the allocation of Real Property Tax Trust
Funds for Stadium obligations in accordance with the Successor Agency Recognized
Obligations Payment Schedules (ROPS). The Interim Agreement and the First and
Second Amendments have been successfully implemented to provide for efficient and
cost effective management, maintenance and operation of the Diamond Stadium.
However, the Second Amendment expires on December 31, 2015 at which time the
burden of maintaining, managing and operating Diamond Stadium under the Stadium
Operations Contracts would fall onto the Successor Agency.
Discussion
Pursuant to the Dissolution Act and provisions of AB 1484, the Successor Agency has
prepared a Recognized Obligation Payment Schedule for the period from January 1,
2016 through June 30, 2016 (the "ROPS 15 -1613") which lists, among other things, as
enforceable obligations of the Successor Agency, the obligations related to the (i)
License Agreement; (ii) Maintenance Agreement; (iii) Concession Agreement; (iv)
Stadium operations and maintenance obligations, and (v) the Interim Agreement.
Consistent with the legislative authorization contained in AB 1484 allowing successor
agencies to enter into enforceable obligations for the purpose of maintaining the assets
of the former Redevelopment Agency, a Third Amendment to the Interim Agreement
has been prepared to provide for the continued, efficient and cost effective
management, maintenance and operation of the Stadium through 2016.
Successor Agency staff believes that approval of the attached Third Amendment (2016)
to the Stadium Interim Management Agreement will ensure that the "Lake Elsinore
Storm" can continue to play its home baseball games at the Stadium consistent with the
Stadium Operations Contracts and that the Stadium will be maintained and managed in
a first class condition on a continual basis throughout the 2016 calendar year. The
Storm continues to possess the experience, capabilities and qualifications to best carry
out these obligations.
Interim Management Agreement - The Interim Stadium Management Agreement as
amended by the proposed Third Amendment incorporates the obligations under the
Stadium Operations Contracts and provides for a Capital Improvement Schedule.
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improvements to and replacement of the heating, ventilation and air condition (HVAC)
system, repaving of the parking lots and replacement of old equipment.
The Third Amendment provides for proposed 2016 Capital Repairs of approximately
$3,286,912. The Third Amendment includes a Capital Repair schedule, which will be
updated annually or, if necessary, semi - annually in accordance with future ROPS.
Capital Repairs for the RODS 15 -16B period (January 1, 2016 through June 30, 2016)
are estimated to be $1,580,912, which includes (but is not limited to) beginning the
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Third Amendment (2016) to Interim Stadium Management Agreement
September 22, 2015
Page 3
During the 2016 term of the Third Amendment, compensation to the Storm for the
performance of the maintenance, management and operations services shall be as
follows:
(a) Assignment of GRCS Concession Fee. Successor
Agency assigns Successor Agency's right to payment of the GRCS Concession Fee
under the Concession Agreement to the Storm during the 2016 term, estimated at
$34,000 annually; and
(b) Waiver of License Fee. Successor Agency waives
Successor Agency's right to payment of the License Fee in the amount of $497,297
under the License Agreement during 2016 as an offset against the payments due by the
Successor Agency to the Storm; and
(c) Payment of Maintenance Fee. Successor Agency shall
pay the Annual Maintenance Fee in the amount of $232,159 under the Stadium Field
And Maintenance Agreement during 2016; and
(d) Payment of Additional Interim Management Fee.
Successor Agency shall pay to Storm $435,589, payable in equal monthly installments
( "Additional Interim Management Fee ").
The Maintenance Fee along with the Additional Interim Management Fee will result total
cash payment from the Successor Agency to the Storm of $667,752 as consideration
for services provided under the Stadium Operations Contracts and the Interim Stadium
Management Agreement as amended by the Third Amendment, which aggregate
amount shall be payable in equal monthly installments of $56,646.
The Successor Agency continues to be responsible for all Capital Repairs and
alterations consistent with the Stadium Operations Contracts, which are expected to be
significant over the next few years. In connection with the preparation and negotiation of
the Third Amendment, the City's Building Official surveyed the Stadium with
representatives of The Storm and agreed upon necessary Capital Repairs. Quotes or
estimates for the costs of such Capital Repairs were also obtained.
Third Amendment (2016) to Interim Stadium Management Agreement
September 22, 2015
Page 4
replacement of Stadium seating, improvements to comply with revisions to the ADA,
retrofitting of plumbing, containment of run -off to comply with the National Pollutant
Discharge System imposed by the EPA, improvements to and replacement of the HVAC
system, and replacement of old equipment.
The Third Amendment is subject to the approval of DOF. Following approval by the
Successor Agency and the Oversight Board, the Third Amendment and the ROPS 15-
166 will be submitted to the Department of Finance (DOF).
Fiscal Impact
The ROPS 15 -16B to be considered by Oversight Board and the DOF provides for an
allocation of Real Property Tax Trust Funds to cover the Successor Agency obligations
for the period of January 1, 2016 through June 30, 2016. The ROPS 16 -17A (for the
second half of calendar year 2016) will be prepared to similarly reflect these obligations
which will be presented to the Oversight Board and DOF and upon approval will provide
funds for the second six months of the term of the Third Amendment.
Prepared by: Barbara Leibold, Successor Agency Counsel
Attachments: Third Amendment (2016) to Stadium Interim Management
Agreement
RESOLUTION NO. OB -2015 -004
A RESOLUTION OF THE OVERSIGHT BOARD TO THE
SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF
THE CITY OF LAKE ELSINORE APPROVING THE THIRD
AMENDMENT (2016) TO THE STADIUM INTERIM MANAGEMENT
AGREEMENT BETWEEN THE SUCCESSOR AGENCY OF THE
REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
AND THE LAKE ELSINORE STORM LP
WHEREAS, the Oversight Board to the Successor Agency of the Redevelopment
Agency of the City of Lake Elsinore ( "Oversight Board ") has been established to direct
the Successor Agency to take certain actions to wind down the affairs of the former
Redevelopment Agency of the City of Lake Elsinore in accordance with the California
Health and Safety Code; and
WHEREAS, by adoption of its Resolution No. OB 2012 -013 on December 11,
2012, the Oversight Board approved the Stadium Interim Management Agreement
dated January 1, 2013 by and between the Successor Agency of the Redevelopment
Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP (the "Interim
Agreement ") and following such approval by the Oversight Board and the Successor
Agency, the Interim Agreement was submitted to and reviewed by the State Department
of Finance; and
WHEREAS, by adoption of its Resolution No. OB 2013 -007 on September 24,
2013, the Oversight Board approved the First Amendment to Stadium Interim
Management Agreement dated January 1, 2014 by and between the Successor Agency
of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm
LP (the "First Amendment ") and following such approval by the Oversight Board and the
Successor Agency, the First Amendment was submitted to and reviewed by the State
Department of Finance; and
WHEREAS, by adoption of its Resolution No. OB 2014 -005 on September 23,
2014, the Oversight Board approved the Second Amendment to Stadium Interim
Management Agreement dated January 1, 2015 by and between the Successor Agency
of the Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm
LP (the "Second Amendment ") and following such approval by the Oversight Board and
the Successor Agency, the Second Amendment was submitted to and reviewed by the
State Department of Finance; and
WHEREAS, the Interim Agreement and the First and Second Amendments have
been successfully implemented to provide for efficient and cost effective management,
maintenance and operation of the Diamond Stadium but, absent a Third Amendment,
the Interim Amendment will expire on December 31, 2015; and
WHEREAS, consistent with the legislative authorization contained in AB 1484
allowing successor agencies to enter into enforceable obligations for the purpose of
OVERSIGHT BOARD RESOLUTION NO. OB 2015 -004
Page 2
maintaining the assets of the former redevelopment agency, the Successor Agency of
the Redevelopment Agency of the City of Lake Elsinore seeks to provide for the
continued, efficient and cost effective management, maintenance and operation of the
Stadium and to retain the Storm to carry out such continuing obligations on an interim
basis for calendar year 2016 in accordance with the proposed Third Amendment (2016)
to the Interim Agreement; and
WHEREAS, pursuant to Health and Safety Code Section 34169 a "Recognized
Obligation Payment Schedule" that lists all obligations of the former redevelopment
agency that are enforceable within the meaning of subdivision (d) of Section 34167 for
the six month period January 2016 — June 2016 (the "ROPS 15 -1613") which lists,
among other things, as enforceable obligations of the Successor Agency, the following
obligations related to the Lake Elsinore Diamond Stadium (the "Stadium "): (i) License
Agreement; (ii) Maintenance Agreement; (iii) Concession Agreement; (iv) Stadium
operations and maintenance obligations, and (v) the Interim Agreement (as amended by
the proposed Third Amendment (2016)) has been prepared for approval by the
Successor Agency and the Oversight Board on September 22, 2015.
NOW, THEREFORE, THE OVERSIGHT BOARD TO THE SUCCESSOR
AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE
DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS:
SECTION 1. The Recitals set forth above are true and correct and incorporated
herein by reference.
SECTION 2. Based on the information presented in the staff report and
testimony received, the Oversight Board finds (i) that the proposed Third Amendment
(2016) to the Interim Agreement is reasonable and necessary to satisfy the Successor
Agency's enforceable obligations and to protect and maintain the assets of the former
Redevelopment Agency, (ii) that Real Property Tax Trust Fund (RPTTF) revenues set
forth in the ROPS 15 -16B include funds necessary to meet the Successor Agency's
enforceable obligations with respect to the Stadium, including the proposed Third
Amendment (2016) to the Interim Agreement, and (iii) that the Third Amendment (2016)
to the Interim Agreement is in the best interests of the taxing entities. Based on the
above findings, the Oversight Board approves the Third Amendment (2016) to the
Stadium Interim Management Agreement by and between the Successor Agency of the
Redevelopment Agency of the City of Lake Elsinore and the Lake Elsinore Storm LP in
substantially the form attached and in such final form as approved by the Successor
Agency.
SECTION 3. If any provision of this Resolution or the application thereof to any
person or circumstance is held invalid, such invalidity shall not affect other provisions or
applications of this Resolution which can be given effect without the invalid provision or
application, and to this end the provisions of this resolution are severable. The
Oversight Board hereby declares that it would have adopted this Resolution irrespective
of the invalidity of any particular portion thereof.
OVERSIGHT BOARD RESOLUTION NO. OB 2015 -004
Page 3
SECTION 4. This Resolution shall take effect from and after the date of its
passage and adoption in accordance with applicable law.
PASSED, APPROVED AND ADOPTED at a regular meeting of the Oversight
Board to the Successor Agency of the Redevelopment Agency of the City of Lake
Elsinore, held this 22nd day of September, 2015 by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Genie Kelley, Vice - Chairperson
Oversight Board to the Successor
Agency of the Redevelopment Agency
of the City of Lake Elsinore
ATTEST:
Diana Giron,
Oversight Board Acting Secretary
THIRD AMENDMENT (2016)
go
STADIUM INTERIM MANAGEMENT AGREEMENT
THIS THIRD AMENDMENT (2016) TO STADIUM INTERIM MANAGEMENT
AGREEMENT (the "Third Amendment'), dated for identification as of September 22, 2015, is
made by and between the SUCCESSOR AGENCY OF THE REDEVELOPMENT
AGENCY OF THE CITY OF LAKE ELSINORE ( "Successor Agency "), and the LAKE
ELSINORE STORM LP, a California limited partnership ( "Storm ").
RECITALS
The following recitals are a substantive part of this Amendment:
A. The Successor Agency and the Storm entered into that certain Stadium Interim
Management Agreement dated January 1, 2013 (the "Interim Agreement') to provide for the
performance by the Storm of certain maintenance, upkeep, and operations of the Premises (as
defined in the Interim Agreement). Capitalized terms used herein which are not otherwise
defined herein shalt have the meaning ascribed to them in the Interim Agreement.
B. The Interim Agreement was successfully implemented during calendar year 2013
to provide for efficient and cost effective management, maintenance and operation of the
Premises.
C. In order to provide for the efficient and cost effective management, maintenance
and operation of the Premises for calendar year 2014, the Successor Agency and the Storm
entered into that certain First Amendment (2014) to Stadium Interim Management Agreement
dated September 24, 2013 (the "First Amendment').
D. In order to provide for the efficient and cost effective management, maintenance
and operation of the Premises for calendar year 2015, the Successor Agency and the Storm
entered into that certain Second Amendment (2015) to Stadium Interim Management Agreement
dated September 23, 2014 (the "Second Amendment').
E. The obligations set forth in the Interim Agreement, First Amendment, and Second
Amendment have been included in prior Recognized Obligation Payment Schedules approved by
the Successor Agency, the Oversight Board of the Successor Agency ( "Oversight Board ") and
the Department of Finance ( "DOF ").
F. The Second Amendment will expire on December 31, 2015 and the parties desire
to enter into this Third Amendment to provide for the efficient and cost effective management,
maintenance and operation of the Premises for calendar year 2016.
G. Capital repairs for 2016 of approximately $3,286,912, as included in this Third
Amendment, reflect that the Stadium is twenty two (22) years old and in need of significant
capital repairs, including, without limitation, replacement of Stadium seating, improvements to
comply with revisions to the Americans with Disabilities Act, retrofitting of plumbing,
Third Amendment to Stadium Interim Management Agi Final
containment of run -off to comply with the National Pollutant Discharge System imposed by the
Environmental Protection Agency, improvements to and replacement of the heating, ventilation
and air condition (HVAC) system, repaving of the parking lots and replacement of old
equipment.
H. In accordance with AB 1484, a Recognized Obligation Payment Schedule will be
adopted for the period from January 1, 2016 through June 30, 2016 (herein referred to as the
"ROPE 15 -1613") and for all subsequent Recognized Obligation Payment Schedule periods. AB
1484 sets forth the review period and authority of DOF to review and approve Recognized
Obligation Payment Schedules.
1. On September 22, 2015, the Oversight Board and the Successor Agency will
consider approval and adoption of the ROPE 15 -16B which includes the obligations set forth in
this Amendment and lists, among other things, as enforceable obligations of the Successor
Agency, the following obligations related to the Premises as more fully described and referenced
therein:
(i) Concession License Agreement, as amended ( "Concession Agreement ");
(ii) License Agreement, as amended ( "License Agreement ");
(iii) Stadium Field and Maintenance Agreement, as amended ( "Maintenance
Agreement ");
(iv) Stadium operations and maintenance obligations; and
(v) The Stadium Interim Management Agreement.
J. Following approval of the ROPS 15 -16B by the Oversight Board and the
Successor Agency, the ROPS 15 -16B will be transmitted to the DOF for its review and approval.
K. Consistent with the legislative authorization contained in AB 1484 allowing
successor agencies to enter into enforceable obligations for the purpose of maintaining the assets
of the former Redevelopment Agency, the Successor Agency seeks to provide for the continued
efficient and cost effective management, maintenance and operation of the Premises for calendar
year 2016 and to retain the Storm which possesses the experience and qualifications to carry out
such continuing obligations on an interim basis so as to ensure that the "Lake EIsinore Storm," a
single "A" baseball team which is a member of the California League of the National
Association of Professional Baseball and owned by Storm LP, continue to play its home baseball
games at the Stadium.
L. In furtherance of the purpose and intentions of the parties as with respect to the
Interim Agreement, the parties hereto agree to amend the Interim Agreement as provided herein.
AGREEMENT
NOW THEREFORE, in consideration of the foregoing Recitals and the terms contained
herein, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties do hereby agree as follows:
"Bird Amendment to Stadium Interim Management Agt Pinni - 2 -
I . Term of Agreement; Termination. Section 6 of the Interim Agreement, entitled
"'Perm of Agreement; Termination," is hereby deleted in its entirety and replaced with the
following:
6. Term of Agreement; Termination
6.1. Term. The term of the Interim Agreement (hereinafter the
"Term ") shall commence on the Effective Date and shall, unless earlier terminated in
accordance with Sections 6.2, 19, or 20 hereof, automatically terminate on December 31,
2016.
6.2. Rights of Termination Prior to Commencement and
Expiration of the Term
(a) January 1, 2016 Termination. Successor Agency may
terminate this Interim Agreement prior to the Commencement Date, by giving written
notice thereof to the Storm no later than November 30, 2015.
(b) June 30, 2016 Termination. Successor Agency may
terminate this Interim Agreement effective as of June 30, 2016, by giving written notice
thereof to the Storm no later than May 30, 2016.
(c) Default. The Successor Agency and Storm shall have the
right to terminate this Interim Agreement as a result of an uncured Default hereunder.
Any such termination shall be made in accordance with Sections 19 or 20.
(d) Party's Property and Offset. Upon termination of this
Interim Agreement under this Section 6.2, all materials and equipment purchased by
either party hereunder in connection with this Interim Agreement shall remain that
party's property. In addition, the Storm shall be entitled to an offset for all of the Storm's
services rendered hereunder through the effective date of any such termination.
(e) Effect of Termination. Notwithstanding the termination
of this Interim Agreement pursuant to this Section 6.2, the provisions of Stadium
Operations Contracts shall remain in full force and effect.
2. Compensation. Section 7 of the Interim Agreement, entitled "Compensation," is
hereby deleted in its entirety and replaced with the following:
7. Compensation
7.1. Stadium Operations Contracts Compensation Recap. Pursuant
to the Stadium Operations Contracts, the Storm and /or the Successor Agency are entitled
to compensation during the Term as follows:
(a) 2016 License Fee: Under the License Agreement, the
Storm is required to pay to the Successor Agency a License Fee in the amount of
$497.297 for 2016.
'Third Amendment to Stadium Interim Management Agt I fnal -3 -
(b) Percentage of Concessions: Under the Concession
Agreement, the Storm's affiliate, Golden State, is required to pay Successor Agency a
percentage of the GRCS pursuant to Section 6 thereof (the "GRCS Concession Fee. ").
(c) Annual Maintenance Fee: Under the Maintenance
Agreement, Successor Agency is required to pay Storm an Annual Maintenance Fee of
$232,159 for 2016.
7.2. Storm Compensation January 1, 2016 — December 31, 2016.
Commencing upon the Commencement Date (January 1, 2016) and continuing through
the expiration of the Term (December 31, 2016) and as consideration for the performance
of the services set forth herein, the Storm shall be compensated as follows:
(a) Assignment of GRCS Concession Fee. Successor Agency
hereby assigns Successor Agency's right to payment of the GRCS Concession Fee under
the Concession Agreement to the Storm during the Term, estimated at $34,000 annually;
and
(b) Waiver of License Fee. Successor Agency hereby waives
Successor Agency's right to payment of the License Fee under the License Agreement
during the Term as an offset against the payments due by the Successor Agency to the
Storm hereunder; and
(c) Payment of Maintenance Fee. Successor Agency shall
continue to pay the Annual Maintenance Fee as identified in Section 7.1(d) (i.e.,
$232,159).
(d) Payment of Additional Interim Management Fee.
Successor Agency shall pay to Storm $445,589, payable in equal monthly installments
( "Additional Interim Management Fee ").
The Maintenance Fee along with the Additional Interim Management Fee
will result total cash payment from the Successor Agency to the Storm of $667,752 as
consideration for services provided under the Stadium Operations Contracts and this
Interim Agreement, which aggregate amount shall be payable in equal monthly
installments of $56,646. The Storm acknowledges and agrees that in no event will the
Agency be required to provide the Storm with any other form of payment for
performance of the services as provided in this Interim Agreement. The parties
acknowledge that the historic operating costs of the Stadium equal or exceed the
compensation due to Storm hereunder and that it is in each of the party's best interests to
enter into this Agreement for the efficient use and operation of the Stadium.
3. Capital Repairs. Section 8 of the Interim Agreement, entitled "Capital Repairs,"
is hereby deleted in its entirety and replaced with the following:
8. Capital Repairs. Capital Repairs shall be governed by the applicable
provisions of the Stadium Operations Contracts. A Capital Repair Schedule with
estimated costs budgeted for RODS 15 -16B and 16 -17A is set forth in Exhibit "C"
attached hereto and incorporated by reference herein.
Third Amendment to Stadium Interim Management A g t Final - 4 -
The Successor Agency's Executive Director or designee ( "Executive Director ")
will designate certain Capital Projects that shall be subject to the Department of
Public Works' direct administration of the bid process and award of contract
consistent with the applicable legal requirements.
The Storm will undertake and complete such other Capital Repairs as set forth in
Exhibit "C" as are mutually agreed.
To the extent that The Storm undertakes such other Capital Repairs not
undertaken by the Successor Agency, The Storm shall obtain not less than three
(3) bids from qualified contractors unless otherwise excused by the Executive
Director. Without limiting the Executive Director's discretion, the bidding
requirement herein may be excused in situations involving emergencies and sole
source contractors. In addition, The Storm acknowledges the general requirement
that certain Capital Repairs are subject to the requirements of California Labor
Code Section 1720, et seq., and 1770, et seq., as well as California Code of
Regulations, Title 8, Section 16000, et seq., ( "Prevailing Wage Laws "), which
require the payment of Prevailing wage rates with respect to certain capital
improvements, repairs and maintenance work paid for in whole or in part out of
public funds. Accordingly, The Storm agrees to, in the administrative of the
bidding and contractor selection process, inform prospective bidders of the
requirement to comply with the Prevailing Wage Laws. The Storm may confer
with the Executive Director and seek direction with respect to whether or not a
certain Capital Repair is subject to the Prevailing Wage Law.
Prior to The Storm awarding a contract for a Capital Repair to a qualified
contractor, the Executive Director shall: (i) confirm that The Storm has followed
the proper bidding procedures for selection of a contractor; and (ii) approve the
selection of the contactor and the form of any agreement between The Storm and
the contactor.
Upon completion of the Capital Repair (or a component thereof supporting a
deposit or in- progress reimbursement), The Storm shall deliver to the Executive
Director a written reimbursement request and supporting documentation (such as
third party invoices, lien releases and cancelled checks). To the extent that the
reimbursement request is for a completed Capital Repair, The Storm shall, if
applicable, submit as -built drawings or similar plans and specifications for the
items to be reimbursed.
4. Accuracy of Recitals. The Parties acknowledge the accuracy of the foregoing
Recitals, which are incorporated herein by this reference.
third Amendment to Stadium Interim Management Agt Final - 5 -
5. Authority; Priority of Amendment. This Amendment is executed by the
Parties' authorized representatives. Except as expressly modified herein, all of the terms of the
Interim Agreement shall remain unchanged and in full force and effect, and the Parties shall
continue to fulfill their respective obligations under the Interim Agreement as amended by this
Amendment. To the extent of any conflict between the terms of the Interim Agreement and the
terms of this Amendment, the terms of this Amendment shall control.
8. Captions. The captions appearing in this Amendment are for convenience only
and are not a part of this Amendment and do not in any way limit, amplify, define, construe, or
describe the scope or intent of the terms or provisions of this Amendment.
9. Counterparts. This Amendment may be executed in counterparts, each of which
shall be deemed an original, and all of which together shall constitute but one and the same
document.
10. Commencement Date. Unless earlier terminated in accordance with Section
6.2(a), the provisions of this Amendment shall commence on January 1, 2016 (the
"Commencement Date ").
Third Amendment to Stadium Interim Management Agt Final - 6 -
IN WITNESS WHEREOF, the parties have executed this Amendment on the respective
dates set forth below.
Dated:_
ATTEST:
"SUCCESSOR AGENCY"
SUCCESSOR AGENCY OF THE
REDEVELOPMENT AGENCY OF THE
CITY OF LAKE ELSINORE
By:
SUCCESSOR AGENCY ACTING SECRETARY
By:
Diana Giron
APPROVED AS TO FORM:
LEIBOLD McCLENDON & MANN, P.C.
Successor Agency Counsel
By:
Barbara Leibold
Dated:
'Ihlyd Amendment to Stadium Interim Management Agt Final - % -
Grant Yates, Executive Director
"STORM"
LAKE ELSINORE STORM LP, a
California limited partnership
By: GJJ STORM MANAGEMENT,
LLC, a California limited liability
company
Its: General Partner
C
Gary C. Jacobs, Manager
EXHIBIT "C"
CAPITAL REPAIR SCHEDULE
See Attached
EXHIBIT "C"
LAKE ELSINORE STORM -DIAMOND STADIUM
CAPITAL REPAIR SCHEDULE
THIRD AMENDMENT TO THE INTERIM MANAGEMENT AGREEMENT
CAPITALREPAIR
Retrofit RVAC system
Repaving parking lots A & B
Stadium seating
Repainting stadium green (remaining steel and pipes)
Diamond Chub fur nitm'a
Desch landscaping stadium
Sewer Lift Station
Concessions /Phnnbiug Beira fit
Diamond Club Lights
Uome/Visitor Locker Room Carpet
Diamond Club Refurbishment
Electrical Upgrade - Fun Zone
Replace Wall Padding
Stadium backstop netting
Souvenir Lighting & CeihtngTiles
Flooring & Painting (Visitors side /Rome Side /Press Box)
Press Box renovation
'Toilets, Trash Cans, Tables
Fit st Aid Room Upgrade
Media Roar Upgrade
Bathrooms (Epoxy - OPS /Family)
Refurbish Counting Room
Diamond Club Wood &Cabinet- Refinish
Security ]Zoom Carpet/ Wood Replacement Outfield
Fencing
Equipment Replacement:
Forklift
jobs Deere Pro Gator maintenance
Join Deere Aenalor
Polaris Ranger
Cleaning Carl
Honda Plot Compactor
Honda FC600 Walk Behind Tiller
1Wo Generators
Pairtender Conditioners Shaft Blades
GearDrive
EXIIJBIT "C
HOPS 15 -1.6B ROPS 16 -17A
].03,234.86
- 345,000.00
350,000.00 875,000.00
- 100,000.00
29,500.00 -
-
40,000.00
350,000.00
-
230,500.00
275,000.00
22,000.00
-
30,000.00
-
-
14,000.00
-
24,000.00
55,000.00
-
45,000.00
-
20,000.00
-
64,000.00
-
28,500.00
-
59,600.00
-
17,500.00
-
-
12,000.00
-
21,000.00
16,000.00
-
14,000.00
-
4,667,00
-
1.5,000.00
-
30,000.00
27,500.00 -
19,800.00
15,00000
15,000.00
3;010.00
2,150.00
2,100.00
4,050.14
7,800.00
$ 1,580,91.2.00 $ 1.,706,000.00