Drillers Deadline Today (again)

[TulsaSooner]

Bill Lobeck stepped down from consideration for the trust authority board.  I have no problem with he and the Mayor on the board.  He oversees the foundation of theirs that donated the money to get them a seat on the board if $2 million is the limit and she is the Mayor who deserve a spot.  She won't always be the Mayor but I'm sure they would still like a place on the board to help guide the project over the years since they ponied up money for it.  

I do agree that the downtown business owners need to have more equitable representation though.

[MDepr2007]

Announcement coming at 11:00 am at the ballpark site. Hmmm am I about to be shocked that an actuall ballpark is really going to be built?

P.S. looks like a possible rainout for scheduled announcement time[]

[TheArtist]

quote:Originally posted by MDepr2007

Announcement coming at 11:00 am at the ballpark site. Hmmm am I about to be shocked that an actuall ballpark is really going to be built?

P.S. looks like a possible rainout for scheduled announcement time[]

I sure hope so, at this point I have no idea what is going on anymore lol.

[TulsaSooner]

quote:Originally posted by MDepr2007

Announcement coming at 11:00 am at the ballpark site. Hmmm am I about to be shocked that an actuall ballpark is really going to be built?

P.S. looks like a possible rainout for scheduled announcement time[]

Where was this announced?

[TulsaSooner]

At a Saturday morning news conference Tulsa Mayor Kathy Taylor announced an agreement between the Tulsa Drillers and the City of Tulsa.

The Drillers have agreed to move their stadium to downtown Tulsa.  This decision comes after 8 months of negotiations and according to both sides of the deal, will be mutually beneficial.

NewsChannel 8 will continue to follow this developing story and release new information as it becomes available.

http://www.ktul.com/news/stories/0808/546996.html

[RecycleMichael]

I went to the press conference. Everybody was smiles.

The mayor and Driller president/owner Chuck Lamson did most of the talking, but three councilors were also in attendance.

I am excited. This will be big for downtown.

[Wrinkle]

I'd like to see the list of conditions which made this announcement possible.

..."if" and "upon" use considerable, I'd imagine.

[Rico]

quote:Originally posted by Wrinkle

Getting the proposed Trust approved by the Council would be only one of the major problems.

Have you read the Trust Agreement?! Wide open contract to do anything, anytime, anywhere.

Not to mention the FIVE of the Seven Board memebers getting stuck with 12-year positions, and having to donate more than $2 million for the privilage.

The other two are the Mayor and the Mayor's choice.

And, that's not even the most distrubing part:

ARTICLE III
Purpose and Powers of The Trust

quote: (1) This Trust shall have the power to (i) to acquire, construct, own, operate, and sell a baseball stadium in downtown Tulsa (herein called the �Tulsa Stadium Project�) and (ii) to acquire, construct, own, operate, and sell amenities and facilities necessary or convenient thereto as determined by the Trustees in their discretion.

and,under
ARTICLE VII
Powers and Duties of the Trustees

quote: (c) To make and change investments; to convert real into personal property and vice versa; to lease, improve, exchange or sell, at public or private sale, upon such terms as they deem advisable, any or all of the property in the Trust, real or personal; to purchase property from any person, firm or corporation, and lease land and other property to and from the Beneficiary, and construct, improve, repair, remodel and equip buildings and facilities thereon and to operate or lease or rent the same

and, this:

quote: (e) To make and perform contracts of every kind...

And, essentially takes away any "benefit" the City of Tulsa (Named formally as the "benefactor of the Trust") might ever receive in:

ARTICLE VIII
Beneficiary of Trust

quote: (3) The Beneficiary shall have no legal title, claim or right to the Trust Estate, its income, or any part thereof, or to demand or require any partition or distribution thereof, or to demand or require any partition or distribution thereof, except as set forth hereinafter in this Trust Indenture. Neither shall said Beneficiary nor any agents thereof, have any authority, power or right, whatsoever, to do or transact any business for, or on behalf of, or binding upon, the Trustees or upon the Trust Estate, nor the right to control or direct the actions of the Trustees. The City of Tulsa as Beneficiary of this Trust shall be entitled solely to the benefits of this Trust as administered by the Trustees hereunder, and, at the termination of the Trust as herein provided and then only shall said City receive the residue of the Trust.

Then, goes on to shield them from ANY liability for anything, ever:

ARTICLE VI
The Trustees

quote: (13) The Trustees, the City, or any agency thereof, shall not be charged personally with any liability whatsoever by reason of any act of omission committed or suffered in good faith or in the exercise of their honest discretion in the performance of such Trust or in the operation of the Trustee Estate; but any act or liability for any omission or obligation of the Trustees in the execution of such Trust, or in the operation of the Trust Estate shall extend to the whole of the Trust Estate or so much thereof as may be necessary to discharge such liability or obligation.

...some deal.

Pay for and hand them a ballpark, the ability to take whatever other land they desire (really, anywhere), let them contract and operate it, profit from it or sell it if they desire, and then shut up.

Has anyone else bothered to read the "Trust Document", if so, could someone please help me understand where exactly the boundary line for the "Stadium Trust" is...?

Possibly a Realtor or Attorney... ? ?  

[Wrinkle]

quote:

Has anyone else bothered to read the "Trust Document", if so, could someone please help me understand where exactly the boundary line for the "Stadium Trust" is...?

Possibly a Realtor or Attorney... ? ?  

Neither here, but I do know the citizens of Tulsa CAN file suite against ANY Councilor, personally, who votes to approve the Trust Agreement in its' current form. THAT would be breach of duty by any measure.

Personally, I think the ballpark should be entrusted to the Tulsa Public Facilities Authority, as is most other public buildings. Let them bid out the construction and management/operations, similar to the arena. As for the fringe land, let the market and our EDC work it out, with some zoning to effect purpose.

Leave the dynasty to fend for themselves.
Public contracts for monopolistic domain of ALL development around the ballpark is just flat uncalled for, and may be illegal as written with a benefactor named but contracted with no benefits.

They might as well make the changes now since it will likely be tied up in court for several years if they don't. That would mean no ballpark for quite awhile.

[TulsaSooner]

As far as I know, TPFA's facilities were paid for entirely with public funds, the ballpark is not.

[Wrinkle]

quote:Originally posted by TulsaSooner

As far as I know, TPFA's facilities were paid for entirely with public funds, the ballpark is not.

As I understood things, those were 'donations'.
Or, did you mean it's a 'pay-to-play' deal?

Besides, I think the argument can be made, particularly with the construct of the current Trust Agreement, that the IDL tax will pay the $30 million ($25m + $5m from Drillers) cost of the ballpark, with the 'donors' $30m really being used for surrounding development.

For getting prime and solitary rights to all peripheral development, they also get to own and run the ballpark. And, the current Trust Agreement really has NO LIMITATIONS on when, where or how much land they can buy, sell, own, operate. It's not even limited to the IDL. For that matter, not even the City limits.

They could buy a Major League Team in Kansas City if they can find a way to word it as appropriate. It wouldn't even need be a baseball team. Heck, they could buy Busch stadium or your house if they wanted the way it's worded.

[sgrizzle]

the lion's share of the $60M will go to the ballpark. The work done to the surrounding areas will largely be aesthetic.

For comparison, Columbus, OH is building a minor league park much like the one proposed currently under construction. Cost for the park alone is about $50M

http://columbus.bizjournals.com/columbus/stories/2008/08/18/story5.html?b=1219032000^1685241

[RecycleMichael]

I have no doubt that the ballpark to be built in Tulsa will be one of the best. I am glad they are spending the money to do it right. Using the argument that "a city in Arkansas built one for $30 million so we should too" is stupid. I am sure that the generous Tulsans who have pledged so many millions for this park also didn't do it to build the cheapest one either.

The architects are the same ones building Yankee stadium. They are the "Pelli" of the baseball stadium designers. From what I have heard, the Drillers also asked for quite a few additions, some of which will never be seen by the casual fan. This ballpark will be built with indoor batting cages and workout rooms for the players. The Rockies have invested millions of dollars into these athletes and want them to have a stadium that also helps them.

I have probably been to more baseball stadiums than the average fan. First class design and operation are a thing of pride and keep the casual fan coming back to the park.

This ballpark is going to transform the entire north and east side of our downtown. This is going to be an iconic thing of beauty that revitalizes everything for blocks around. I am glad they are budgeting enough money to build it right.

[MichaelBates]

quote:Originally posted by RecycleMichael


The architects are the same ones building Yankee stadium. They are the "Pelli" of the baseball stadium designers.

They're also the same ones that built the $32 million park in Northwest Arkansas.

[Conan71]

Not jumping into the pig wrestling match over how much the stadium proper will or won't cost, but will there not be some sort of an itemized pre-construction budget presented?