File #: 2021-218    Version: 1 Name:
Type: Agreement Status: Approved
File created: 5/17/2021 In control: City Council
On agenda: 5/17/2021 Final action: 5/17/2021
Title: First Amendment to the Use and Operating Agreement between the City of High Point, High Point Baseball, Inc. and the High Point Downtown Stadium Foundation Council is requested to approve an amendment to the Use and Operating Agreement between the City of High Point, High Point Baseball, Inc. and the High Point downtown Stadium Foundation. The amendment increases the annual lease of the facility, removes the ticket fee that the team pays and clarifies utility and maintenance responsibilities between the City and the Team. There is no change to debt service revenues when actual and projected increased property tax in the Catalyst Influence Area is considered.
Indexes: Baseball, Catalyst Project, Downtown Development, Multi Use Stadium
Attachments: 1. HP Rockers Amendment to Use and Operating Agreement.pdf, 2. First Amendment Agreement Baseball, Inc 1, 3. First Amendment Agreement Baseball, Inc 2

Title

First Amendment to the Use and Operating Agreement between the City of High Point, High Point Baseball, Inc. and the High Point Downtown Stadium Foundation

Council is requested to approve an amendment to the Use and Operating Agreement between the City of High Point, High Point Baseball, Inc. and the High Point downtown Stadium Foundation.  The amendment increases the annual lease of the facility, removes the ticket fee that the team pays and clarifies utility and maintenance responsibilities between the City and the Team.  There is no change to debt service revenues when actual and projected increased property tax in the Catalyst Influence Area is considered.

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