City of San Antonio - File #: 15-6281

• File #: 15-6281
• Type: Staff Briefing - With Ordinance
• In control: City Council A Session
• On agenda: 12/17/2015
• Posting Language: An Ordinance authorizing the Public Facility Corporation to enter into a Soccer Stadium Facility Lease Agreement with SA FC for a term of 20 years at an annual rental amount of $100,000.00; authorizing a $500,000.00 contribution from the City to the Public Facility Corporation to be used for Public Facility Corporation approved deferred maintenance and facility standard upgrades at Toyota Field, such contribution being contingent upon a $1 million contribution towards deferred maintenance and facility standard upgrades to Toyota Field from SA FC and a $500,000.00 contribution from the County for deferred maintenance of the STAR Soccer Complex; approving the negotiation and execution of ancillary documents necessary to lease Toyota Field to SA FC, including a provision providing reimbursement to City and County of a combined $5 million should no MLS franchise be awarded.
• Related files: 15-6033, 15-6279, 15-6280, 15-6282, 16-1027

DEPARTMENT: Convention & Sports Facilities


DEPARTMENT HEAD: Michael J. Sawaya


COUNCIL DISTRICTS IMPACTED: Council District 10


SUBJECT:

The purchase by the City of San Antonio ("City") and Bexar County ("County") of Toyota Field from Sports and Outdoor Recreation ("SOAR") Park through a City created Public Facility Corporation ("PFC") for a cumulative amount of $18 million; and, subsequent to purchase, execution of a lease between the PFC and SA FC Management LLC ("SA FC"), an affiliate of Spurs Sports & Entertainment ("SS&E"), to operate Toyota Field for a term of 20 years, along with a lease agreement between the City and SA FC for certain portions of the South Texas Area Regional ("STAR") Soccer Complex, in pursuit of a Major League Soccer ("MLS") franchise.

SUMMARY:

The following actions relate to the purchase of Toyota Field from SOAR in the amount of $18 million and, upon acquisition, the leasing of Toyota Field and certain portions of STAR Soccer Complex to SA FC for a term of 20 years at an annual rental amount of $100,000.

A. An ordinance authorizing a $9 million contribution by the City to be used in conjunction with $9 million in funds from the County for the purchase of Toyota Field through an Earnest Money Contract between the PFC and SOAR in a cumulative amount of $18 million; approving the negotiation and execution of ancillary documents necessary to purchase Toyota Field.

B. A resolution authorizing the creation of a PFC to acquire and hold title to 5106 David Edwards Drive, San Antonio, TX, Bexar County, also known as "Toyota Field"; approving the Bylaws and Articles of Incorporation of the PFC; approving an Interlocal Cooperation Agreement with the County for its participation in the PFC; and other matters related to the creation of the PFC.

C. An ordinance authorizing the PFC to enter into a Soccer Stadium Facility Lease Agreement with SA FC for a term of 20 years at an annual rental amount of $100,000.00;...