Columbia, SC (WLTX) -- The City of Columbia and Hardball Capital have amended the agreement that would allow the company to manage the city's planned baseball stadium at the Bull Street development site.
Hardball Capital wants to bring a minor league baseball team to Columbia. The company says it wants to have the team in the stadium by the 2015 or 2016 baseball season.
The agreement would allow Hardball's minor league team to play at the stadium for 30 years. The company would also manage, operate and maintain the facility.
Columbia leaders say the amendments to the Venue License Agreement include:
- Clarifying that Hardball Capital will pay the city up to $516,000 per year ($9 million in debt obligation over the term of the agreement) until Columbia Common realizes $60 million in taxable development.
- Requiring Hardball Capital to cover all utilities costs including during City events.
- Adding two additional members of the Advisory Board.
- One member to be appointed by the Columbia Council of Neighborhoods. One member to be appointed by the Naming Rights Partner
- Clarifying that City funds will not be used for routine maintenance.
- Requiring Hardball Capital to cover fire marshal costs at venue events.
- Clarifying that the City will not have a suite but will have access to best available seats.
You can read details of the agreement on the city's website.