Tenant: Inside the Park, LLC; owner of the independent Canadian American Association of Professional Baseball (Can-Am League).
Term: 10 years commencing February 1, 2015; expiring December 31, 2024.
Renewal: Two renewal periods of 5 years each, subject to City Council approval.
Fit-Up Period: The League will have access to the Stadium in 2014 to plan and prepare for the 2015 baseball season.
Base Rent: $108,000 annually for the Term.
Additional Rent: $250,000 representing operating cost recovery on an annual basis.
Life Cycle payment: League to pay $50,000 each year for the first three years followed by $100,000 each year for the remaining years of the Term.
Security: Letter of Credit in the amount of $108,000 for security of all amounts owing to the City.
Use: To host professional league baseball games as part of the Can-Am League.
The League is allotted 70 baseball games a year (Event Days) with season commencing in May and ending in September of each year (commencing 2015). Stadium seating area, field, concourse areas are leased on a non-exclusive basis. The City retains the ability to lease or program the stadium on all non-Event Days. The Can-Am League has exclusive use of the office area, certain concession and food prep areas, home and visiting team dressing rooms, retail space, upper level restaurant and suites.
Parking: The League will control all parking stalls at the Stadium on Event Days. The City will be paid $1.00 for each paid parking attendee.
Food and Beverage Concessions: Can-Am League to pay the City 10% of gross sales above $1.2 million.
Maintenance: In return for the $250,000 additional rent payment, the City will conduct all maintenance of the non-exclusive portions of the Stadium. Maintenance of exclusive areas remains the responsibility of the League.
Advertising: The League has limited exclusivity of commercial advertising sales throughout the Stadium.
Naming Rights: The League is permitted to negotiate the sale of a naming rights package for the Stadium subject to City approval of the location and terms of the agreement. The City will be paid 50% of the naming rights amount paid in excess of $200,000 per year.
Score Board: The League will replace the existing score board at its expense with a more modern video display.
Membership Sale: The League will have the ability to assign or transfer this lease to a suitable owner subject to approval of the City and the City will ensure that in its reasonable opinion that this new owner has a satisfactory financial background and business history.
**Should you wish more information on the Ottawa Stadium Lease you may access the Council Report through Ottawa.ca.
To request a copy of any of the legal Agreements please contact Peter Radke, Manager of Realty Initiatives and Development, at Peter.Radke@ottawa.ca or by telephone at 613-580-2424, extension 21551.