{"id":1407,"date":"2008-09-22T19:48:04","date_gmt":"2008-09-22T23:48:04","guid":{"rendered":"https:\/\/www.aroundfortwayne.com\/news\/?p=1407"},"modified":"2008-09-22T19:48:04","modified_gmt":"2008-09-22T23:48:04","slug":"hardball-capital-contributions-released","status":"publish","type":"post","link":"https:\/\/aroundfortwayne.com\/news\/2008\/09\/22\/hardball-capital-contributions-released\/","title":{"rendered":"Hardball Capital Contributions Released"},"content":{"rendered":"

Finally, the day I waited all weekend for – and you wouldn’t believe the weekend I had. \u00c2\u00a0(Funny that, waiting for a Monday to hurry up and get here.) I was able to spend some time at the computer working on some things, but the majority was spent in bed with a head that felt like it was on the verge of exploding at any moment. \u00c2\u00a0Add to that a good ol’ fashion cold and I was pretty much out of it for the weekend. \u00c2\u00a0\u00c2\u00a0<\/p>\n

For those who haven’t been following, in last Monday’s Redevelopment Commission meeting, Jim Irwin with Barry Real Estate made an appearance to deliver a document that had three parts. \u00c2\u00a0My understanding at the time was the document contained current ballpark budget status, Hardball Capital contributions and some items that could be added to the ballpark if the project remained on budget. \u00c2\u00a0<\/p>\n

<\/p>\n

I heard Ben Lanka of the Journal Gazette ask Greg Leatherman, Redevelopment Executive Director, for the sheets and he was denied. \u00c2\u00a0I did not try. \u00c2\u00a0Rather, the next day I submitted a request in writing for the documents, plus some TIF projections that were given earlier in the meeting. \u00c2\u00a0My request for the TIF information was granted while the Harrison Square information was denied because of it’s speculative nature.<\/p>\n

To make a long story short, you can read the posts on this subject by clicking here<\/a>.\u00c2\u00a0Councilwoman Karen Goldner (D-2nd) called Greg and was told the Hardball Captial contribution information would be released today. \u00c2\u00a0Problem is, what I received today is only half what I anticipated receiving. \u00c2\u00a0I am not sure where the problem lies. \u00c2\u00a0It may go back to the original meeting and perhaps I misunderstood exactly what information was on the Jim Irwin sheet. \u00c2\u00a0I will check into this and keep you updated. \u00c2\u00a0To clarify, I am looking for the current ballpark budget numbers – how much spent and work completed – to verify the project is still on-track financially. \u00c2\u00a0I have a full-plate tonight, so not much thought will go into a game plan or even thinking more about the subject at all.<\/p>\n

With all that said, here is the much anticipated figures detailing the Hardball Capital contributions to the new Parkview Field. \u00c2\u00a0For those of you that aren’t aware, according to the Stadium License Agreement<\/span> with Hardball Capital, page 7:<\/p>\n

1. Base License Fees<\/strong>. In consideration for the License to use the\u00c2\u00a0Stadium granted to it by the City pursuant to this Agreement, Hardball will\u00c2\u00a0contribute Five Million Dollars ($5,000,000)<\/strong> (the “Hardball Contribution”) in\u00c2\u00a0cash or cash and property equivalents acceptable to the City (valued at fair\u00c2\u00a0market value) in connection with the construction and equipping of the\u00c2\u00a0Stadium. Such payment may be in-kind in the form of equipment which is\u00c2\u00a0included in the Plans and Specifications. Any such equipment will be\u00c2\u00a0credited against the Hardball Contribution at fair market value.\u00c2\u00a0<\/p><\/blockquote>\n

The information listed here was current as of today, September 22, 2008. \u00c2\u00a0I am going to break the information down a bit differently than what is on the sheet. \u00c2\u00a0First, let’s look at the portion of the Hardball Capital contribution that is actually under contract: \u00c2\u00a0<\/p>\n

Signage\/Artwork – $803,139
\nScoreboard – $1,493,500
\nBallpark Seating – $481,465
\nStadium Lighting – $387,000
\nTotal: $3,165,104\u00c2\u00a0<\/strong><\/p>\n

There are no contractors listed on the sheet given to me. \u00c2\u00a0I know that the contractors were listed on the sheet given to the Commission as the seating contractor – Irwin Seating<\/a>\u00c2\u00a0(no relation to Jim Irwin)\u00c2\u00a0– was revealed during the meeting.<\/p>\n

Another item on the list is the concessions equipment which is noted to be executed the week of 9\/22\/2008 – this week. \u00c2\u00a0The amount is budgeted for $1,140,000 which would bring the grand total to: $4,305,104<\/strong>.<\/p>\n

The final item listed is the Furniture, Fixtures and Equipment (PF&E). \u00c2\u00a0It is noted that, “this item includes the purchase of the suite level furniture, fixtures, speciality athletic equipment, ground keeping equipment, outdoor furniture, etc. \u00c2\u00a0A purchasing agent has been retained and the acquisition of these items is in progress.” \u00c2\u00a0These items are budgeted at $1,300,000 which, when executed, will bring the total to\u00c2\u00a0$5,605,104<\/strong>.<\/p>\n

Somewhere, I thought I had some budget figures released last year listing the value of the above areas. \u00c2\u00a0If I can find this in the next day or two, I’d like to see how the two compare. \u00c2\u00a0Yes, I’ll share.<\/p>\n

So there you have it. \u00c2\u00a0The Hardball Capital contributions to Parkview Field and essentially the city of Fort Wayne. \u00c2\u00a0<\/p>\n

I felt very stongly that this information needs to be made public so that we all know that Hardball Capital is still a player in the project. \u00c2\u00a0This is especially important with the worsening economic situation. \u00c2\u00a0I don’t think there are, nor did I feel there would be, any surprises in the above information. \u00c2\u00a0I could be wrong and it will be interesting to see what others think.<\/p>\n

Related Documents\/Links:
\nAFW Previous Posts on the Denial for the above information<\/a>
\nHardball Capital Contributions<\/span>
\nStadium License Agreement<\/span><\/p>\n

Related Images:<\/h3>
\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t\t\t\n\t\t\t\n\t\t<\/a>\n\t<\/div>","protected":false},"excerpt":{"rendered":"

Finally, the day I waited all weekend for – and you wouldn’t believe the weekend I had. \u00c2\u00a0(Funny that, waiting for a Monday to hurry up and get here.) I was able to spend some time at the computer working on some things, but the majority was spent in bed with a head that felt […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[636,17],"tags":[616,63,24,23,108,68,25,658,250,436],"class_list":["post-1407","post","type-post","status-publish","format-standard","hentry","category-fort-wayne-redevelopment-commission","category-harrison-square-news","tag-9152008-redevelopment-denial","tag-barry-real-estate","tag-city-of-fort-wayne-redevelopment-commission","tag-fort-wayne-indiana","tag-greg-leatherman","tag-hardball-capital","tag-indiana","tag-irwin-seating","tag-jim-irwin","tag-parkview-field"],"yoast_head":"\nHardball Capital Contributions Released - AroundFortWayne<\/title>\n<meta name=\"description\" content=\"Finally, the day I waited all weekend for - and you wouldn't believe the weekend I had. \u00c2\u00a0(Funny that, waiting for a Monday to hurry up and get here.) 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