Fiscal 2023 DIF Account

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PawSox Letter of Intent

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Now check out PawSox Letter of Intent

 

Have not looked a this in while.

Lot of interesting details

 

 

 

  1.  Letter of Intent between City of Worcester and PawSox, not the WRA and PawSox
  2.  Lease completed by December of 2018 page 1
  3.  Schedule D    "Team Equity Contribution"
  • Ballpark Team Cash Investment of $6,000,000   
  • ($3,000,000 Dec, 2019 & $3,000,000 Dec, 2020)
  • To date do not believe anything has been paid 





 

         

 

 

 

Comments

Anonymous said…
I just read the Letter of intent and have 2 question. First how are the cost over runs calculated and what and how much is the negotiated Guaranteed Maximum Price. Second from reading the construction schedule section it looks like the Team is granted access to and beneficial use and occupancy of the ballpark no later than February 1,2021 and a Certificate of Occupancy no later than March 1,2021. I recently read a newspaper article that the ballpark is 50% complete. It is now October 5,2020, how exactly is the ballpark going to be finished in either 4 or 5 months.
October 5, 2020 at 2:38 PM
Anonymous said…
I now understand your post after reading the reorganization ordinance on the City Council agenda, item 9.13B. Section 15(d) Function of the Authority states "the Governance Documents shall include "Ballpark Lease Agreement" made and entered by and between the Pawtucket Red Sox Baseball Club, LLC ("the Team") and the Worcester Redevelopment Authority, to the extent the terms of the Ballpark Lease Agreement are lawfully transferred to the care custody and control of the authority."
Who exactly is negotiating the lease, the City or the Worcester Redevelopment Authority?
October 6, 2020 at 5:00 AM
Bill Randell said…
Seems like the WRA will now be negotiating the lease???
October 6, 2020 at 1:28 PM
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