HomeMy WebLinkAbout0006_2_OB - Exhibit A History of Diamond Stadium Agreements DiagramHISTORY OF
DIAMOND STADIUM AGREEMENTS
1998
Lakeside
Sports &
Entertainment
Agreement
1994
Stadium
Completed,
Storm
Baseball
Season begins
2000
Lakeside
Sports
Abandons
stadium
2001/2002
Stadium
Operations
Contracts
(SOC)
Executed
2005
RFP ISSUED
To REduce
AGency
COst &
OBligations
Agency enters into three
(3) Agreements known as
Stadium Operations
Contracts, i.e. License,
Maintenance and
Concession Agreements.
Original License and
Maintenance Agreements
effective 2001,
Concession Agreement
effective 2002.
AGENCY OBLIGATIONS:
Original SOC Term:
December 31, 2007 with
optional extension to
December 31, 2012.
Average Agency Cost:
$600,000 to $800,000 per
year for Operations &
Maintenance
RFP was flexible and
allowed for proposals to
operate, lease and/or
purchase Diamond Stadium.
Only 1 SUBMITTAL recieved
from Diamond Stadium
Group (DSG)- a Storm
Related Entity.
AGENCY OBLIGATIONS:
Lakeside Agreement
Term:
XXXXX
Average Agency Cost:
$XXXX
Lakeside reports significant
financial losses and defaults
under Agreement.
Agency files lawsuit against
Lakeside and resumes all
Stadium operations and
maintenance
responsibilities.
Agency begins negotiation
with Storm Baseball to fulfill
obligation to maintain and
operate stadium.
2007
DSG
Management
agreement
Executed &
SOC Amended
and extended
Management Agreement
executed giving all
maintenance and operations
responsibilities to DSG. Agency
remains responsible for capital
repairs. Agreement requires 18
month notice of termination.
As a condition of the
Management Agreement,
original 2001/2002 SOC
agreements are amended and
extended to 2016 with
extensions through 2026.
Amendments state all three (3)
SOC agreements remain
effective with obligations
suspended during the
Management Agreement.
SOC Amendments to resume
full force upon termination of
Management Agreement.
AGENCY OBLIGATIONS:
Management Agreement
Term: December 2016 , two
automatic five-year extensions to
2026
SOC Amendment No. 1 Term:
December 2016, two automatic
five-year extensions through 2026
Average Agency Cost:
$0 for Operations & Maintenance
by FY 11-12, plus Capital Repairs.
2011
18 Month
Notice of
Termination
fROM DSG
In June 2011, DSG notifies
agency of termination of
Management Agreement.
An 18 Month Termination
Notice was required as part
of Management Agreement
to allow the Agency time to
transition operations and
maintenance responsibilities
back to the Agency as
required in the 2007
amended SOC.
Dec. 2012
Management
agreement
terminates,
Amended SOC
RESUMES
full force
DSG ends all operations
and maintenance
responsibilities, which
revert back to the Agency
as specified by the 2007
amended SOC.
Agency does not seek new
agreement options with
pending dissolution of
RDA.
2013
Interim Stadium
Agreement
Executed, SOC
Remain In Full
Force
Agency lacks personnel and
expertise to resume full
operation and maintenance
of Diamond Stadium.
In the best interest of the
taxing entities, the Agency
enters into an Interim
Stadium Agreement with
Storm Baseball.
DOF approves Interim
Stadium Agreement and
financial obligations.
AGENCY OBLIGATIONS:
SOC Amendment No. 1 Term:
December 2016, two automatic
five-year extensions
through 2026
Average Agency Cost:
$540,000 per year for
Operations & Maintenance,
plus Capital Repairs
AGENCY OBLIGATIONS:
Operations, Maintenance
& Capital Repairs of
Diamond Stadium
AGENCY OBLIGATIONS:
Operations, Maintenance
& Capital Repairs of
Diamond Stadium
2014 -
June 30, 2018
DOF Approves
Interim Stadium
Agreement Each
Year, SOC in
FUll Force
AGENCY OBLIGATIONS:
SOC Amendment No. 1
Term: December 2016, two
automatic five-year extensions
through 2026
Interim Stadium Agreement
Term: 1 year
Estimated Agency Cost:
$540,000 per year for
Operations & Maintenance,
plus Capital Repairs
Agency reviews and revises
Interim Stadium Agreement
each year for approval by
the DOF.
DOF approves agreement
in connection with the 2007
amended SOC that remain
in full force through 2026.
AGENCY OBLIGATIONS:
SOC Amendment No. 1
Term: December 2016, two
automatic five-year extensions
through 2026
Interim Stadium Agreement
Term: 1 year
Estimated Agency Cost:
$540,000 per year for
Operations & Maintenance,
plus Capital Repairs