...Title
Lease Extension and Improvements Agreement with DBH San José, LLC, for the San José Municipal Stadium.
...Recommendations
Adopt a resolution to:
(a) Authorize the City Manager or her designee to negotiate and execute an amended and restated use, operation, and management agreement between the City of San José and DBH San José, LLC, for the property commonly known as the San José Municipal Stadium located at 588 E. Alma Avenue, San José, California including all ancillary documents necessitated to execute the agreement, for a term of 25 years, at a rent of $40,000 per year for the duration of the agreement and subject to the terms contained in the staff memorandum;
(b) Allow for capital improvements to Excite Ballpark funded by DBH San José, LLC, subject to City review as a property owner as well as its permitting processes as a regulatory authority, that are required to bring the stadium in compliance with Major League Baseball’s Professional Development League standards, as they may change from time to time;
(c) Authorize the reimbursement by the City to DBH San José, LLC for expenses incurred to renovate the playing field and dugouts totaling up to $5,000,000 to be paid annually as $714,285 for seven years beginning in Fiscal Year 2027-2028 and ending in Fiscal Year 2033-2034; and
(d) Approve the assignment of all stadium naming rights and collection of associated income to DBH San José, LLC, and collection of any telecommunications revenues under a potential lease to be arranged by the City of San José, for the duration of the lease.
CEQA: Categorically Exempt, File No. ER25-014, CEQA Guidelines Section 15323 - Normal Operations of Facilities for Public Gatherings. Council District 7. (Economic Development and Cultural Affairs)