HomeMy WebLinkAboutAmendment to Public Facilities Lease Agreement
Augusta Richmond GA
DOCUMENT NAME: ArYtcmmcnt to '-Pl.-Lb\ \C
FOLC. \ \ \11<:S LeoS:: 4reC:VYX:XTY-
DOCUMENT TYPE: ~Cl~
YEAR: ~ rs-
BOX NUMBER: l\
FILE NUMBER: rl '2-\ ~
NUMBER OF PAGES:
30
AMENDMENT TO PUBLIC FACUlTIES
LEASE AGREEMENT BETWEEN AUGUSTA, GA,
AS LESSOR, AND HWS BASEBALL, LLC, AS LESSEE
WHEREAS, the Board of Commissioners of Richmond County, Georgia and the City Council of
Augusta, Georgia, as LESSOR, and Scripps Baseball Group, Inc., as Lessee, and William H. Scripps, as
Guarantor, entered into a Public Facility Lease Agreement dated May 9, 1994, which was subsequently
amended on September 6,1994 (hereinafter "Lease Agreement"); and
WHEREAS, the Board of Commissioners of Richmond County, Georgia and The City Council of
Augusta, Georgia, consolidated effective January 1, 1996, to form a new political subdivision known as
"Augusta, Georgia" (hererinafter "LESSOR"), which political subdivision succeeded to all the rights,
privileges, responsibilities, and liabilities of the former Board of Commissioners of Richmond County,
Georgia and The City Council of Augusta, Georgia; and
WHEREAS, Scripps Baseball Group, Inc. assigned all of its rights and interests under the Lease
Agreement to HWS Baseball, LLC on June 23, 1998 (hereinafter "LESSEE" or "TEAM"), and Michael
HI. Savit and Jeffrey K. Savit were substituted as guarantors for William H. Scripps (hereinafter
"GUARANTORS") which assignment was approved by the Augusta-Richmond County Commission on
June 3, 1998; and
WHEREAS, LESSOR and LESSEE desire to amend and extend said Lease Agreement as
hereinafter set forth and GUARANTORS hereby consent and join in this Amendment and extension of
said Lease,
NOW, THEREFORE, FOR AND IN CONSIDERATION of the mutual covenants herein
contained, the parties do hereby agree as follows:
1. Paragraphs 20 and 21 of the Definitions defining "City" and "County" are hereby
amended such that any reference to "City" or "County" shall mean the consolidated government of
"Augusta, Georgia", a political subdivision of the State of Georgia created by virtue of 1995 Ga laws, P.
3648, as amEnded.
2. TEAM hereby extends the Lease Agreement for a ten (10) year period, commencing on
October 1, 2004, and ending at 11:59 p.m. September 30, 2014. The terms and provisions of this
Amendment to the Lease Agreement shall be effective immediately and shall also govern the extension
of the Lease.
In consideration of the early renewal of the Lease Agreement and in consideration of the
improvements made by TEAM during the initial term of the Lease Agreement, TEAM agrees to pay
Augusta for calendar year 2003 the sum of$31,856.00. Further, TEAM hereby releases Augusta from
expending the sum of$25,000.00 as provided in Paragraph 37 (C) (9) and (10) of the Lease Agreement.
Team shall submit a report by September 30th of each year detailing improvements made to the
facility.
For calendar year 2004, and each Lease Year (as defined in Definitions - Paragraph 18), TEAM
shall pay rent of $25,000 and shall in addition perform all "Capital Repair and Maintenance" as provided
in Paragraph 18 of the Lease Agreement. Said rental shall be timely paid in five (5) equal monthly
installments of $4,167.00 each due on or before April 30, 2004, May 30,2004, June 30, 2004, July 30,
2004, August 30, 2004, and one payment of$4,165.00 September 30,2004 and in like amounts on like
dates in each year thereafter during the term of the extended lease.
3. As an inducement to both parties to enter into this Agreement, Augusta agrees to use its
best efforts to seek funding from the Phase V SPLOST Program currently being developed by the
Augusta-Richmond County Commission, which funds shall be utilized by TEAM to make certain
revenue enhancements to the stadium. As such revenue enhancements are completed, TEAM agrees to
~
2~
pay as additional rent 25% of a given year's individual reserved seat admission price for every stadium
attendee above 175,000. In addition, TEAM will also pay as additional rent 25% of gross revenues from
new revenue sources as provided by the SPLOST Program (i.e., luxury boxes, parking).
4. As of the date of this Amendment, the Citizen's Committee has recommended a $1
million budget from the Phase V SPLOST Program for the revenue enhancements discussed above, Kill\
the event the SPLOST Program is not ratified by December 31, 2005, TEAM has the option to
renegotiate terms of this Amendment.
Revised: 04/12/04
HWS BASEBALL, LLC:
By: /VC r:VU/1.( /{; sJ
Michael 14, Savit, As Its c.. (()
GU~TORS:
-M ~ /1"fAf
!]i('t
Jeffrey K. Savit