Council authorizes $4.5 million in hotel tax revenue bonds for MLB-required upgrades
The council voted unanimously to authorize $4.5 million in hotel occupancy tax and revenue bonds for Hodgetown upgrades required under MLB facility standards, including locker rooms and facilities for women, a dining area and extended netting. Repayment sources include the team lease, the Convention and Visitors Bureau and hotel tax collections through 2043.[1][2][3]
Estimated renovation cost (Laura Storrs; state project registration)
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On March 28, 2023 the City Council voted unanimously to authorize the bonds for Hodgetown upgrades under MLB facility standards, including facilities for women such as locker rooms, a dining area and extended netting down the first- and third-base lines.[1][2]
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Laura Storrs, Assistant City Manager/CFO (HOT share estimate): Repayment sources were described as $175,000 per year from the team lease (drawn from the team's capital reserve), $50,000 per year from the Convention and Visitors Bureau budget, and about $155,000-$157,000 per year from hotel tax collections, through 2043 when the bonds mature.[2]
Team lease
175,000
Cvb
50,000
Hot low
155,000
Hot high
157,000
Maturity year
2,043
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Laura Storrs, Assistant City Manager and CFO: Assistant City Manager and CFO Laura Storrs said 'you must meet the requirements of major league baseball' and that 'no property tax dollars are being used to pay for that facility.'[1]
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A state accessibility registration for the Hodgetown renovation and expansion, owned by the City of Amarillo, listed an estimated cost of $4,000,000, a start date of October 1, 2023 and a completion date of March 1, 2025.[3]