Multi-Use Facility Use Agreement
Summary of Proposed Terms with Northwest Florida Professional Baseball, LLC
— Term: Ten (10) years plus at the option of the Team two (2) additional terms of five (5) years each
— Use Fees. $175,000.00 per year, plus:
Variable Attendance Surcharge (VAS) on tickets sold as follows:
First 20,000 No Charge
20,001 – 120,000 $0.50 per attendee
120,001 – 220,000 $1.00 per attendee
220,001+ $2.00 per attendee
Excludes exhibition games and season ticket holders in year one. Team guarantees a minimum net VAS in years 1-10 of $125,000.00 per year. VAS payable 60 days after the baseball season ends.
— Variable Ticket Sales Surcharge (VTSS)on tickets sold as follows:
This surcharge will be $0.50 per ticket sold for all events at the Maritime Park including the stadium and ampitheater (excludes Active Duty Military and Family as well as Children under the age of 12).
Funds derived from the VTSS will be restricted to Capital Maintenance – subject to review every 3 years. Payment of VTSS generated by Team due 60 days after the baseball season ends.
— Use of Multi-Use Facility.
Team Use. Team has the exclusive right to use and occupy the Multi-Use Facility for pre-season, home and playoffs games, and for non-baseball events that Team plans, subject to coordination with CMPA in connection with community events that CMPA sponsors.
CMPA Use. CMPA has the right, during both the baseball season and the off-season, to use and occupy the Multi-Use Facility for community events, subject to coordination with the Team.
— Multi-Use Facility Development. If the Facility not ready by March 15, 2012, Team has the right to terminate the agreement or negotiate with CMPA for temporary alternative site acceptable to Team and Southern League with any resulting costs to be negotiated.
— Parking. CMPA retains 100% of the revenue derived from parking for all events at the Maritime Park. However, at no cost, during the baseball season, Team provided with minimum of 100 paved parking spaces within the Park and 50 adjacent to the Facility or in City Hall lot for home games, and a minimum of 60 parking spaces within the Park and adjacent to the Facility on days where there is not a game. Team gets at no cost a minimum of 30 parking spaces in the Park adjacent to the Facility year round.
CMPA is to provide a parking plan for general public parking within or outside the Park for all games on a 3:1 seats to spaces ratio (or such other or greater amount as may be required per Southern League rules or applicable laws) within a 10 minute walk of the Facility entrance.
— Revenue Streams.
Team: All revenue streams from games, all concessions from all events (except CMPA gets 20% of concessions for its events), all in-Park advertising, 50% of naming rights to the stadium, and rental income from tenants in retail spaces in the Facility if Team decides to build out those spaces and lease them.
CMPA: Use Fee ($175,000.00), VAS ($125,000.00), VTSS (approx. $100,000.00), Fifty percent of the net naming rights to the stadium ($ TBD), Parking ($ TBD), Sales of City Merchandise ($ TBD), 20% concession revenue from CMPA events ($TBD), Net proceeds from CMPA events ($TBD).
— Utilities. CMPA pays for all utilities except telephone, cable and internet.
— Management and Maintenance of the Facility. Team has the obligation to operate and manage the Facility year round, including operation of the ticket office, concessions, advertising scoreboard, and other electronic equipment, security and ushering services inside the stadium, set-up and clean-up for games and community events, and perform all routine maintenance, including year-round field maintenance. For community events, certain services (such as set-up and clean-up, security and ushering, etc.) will be charged back to CMPA at its actual cost.
There is no recurring management fee for these services.
— Capital Maintenance and Repair. CMPA is required to maintain, repair, restore, and replace all capital aspects of the Multi-Use Facility. A capital maintenance fund will be established with a minimum balance of $50,000 and funded with 15% of all use fees paid by Team.
Additional Considerations
— Studers to contribute $2,050,000 to CMPA for Public Improvements to the Maritime Park.
— Additional Stadium Enhancements to be made at discretion of Tenant with rights for future suites and or restaurant