With an eye towards the future, officials from the College World Series want to build additional savings for capital improvements to TD Ameritrade Park.
The pitch came on Tuesday, when officials from the College World Series of Omaha Inc. met with the Omaha City Council. At the center of the discussion was a capital improvement fund for the ballpark, which the City of Omaha operates by setting aside revenue—ranging from ticket sales and naming rights, to hotel and rental car taxes— that is produced by the event.
While there is currently $2.2 million in that fund, additional savings will be needed over the next several years, according to Jack Diesing, Jr., chairman of the board for CWS of Omaha Inc. For the present, College World Series officials are proposing to work with the city to find additional revenue sources. More from Omaha.com:
“We’re in reasonable shape, but we’ve got to plan for the future,” [Diesing] said.
Money in the capital reserve fund comes from CWS revenue — including ticket sales and naming rights — as well a portion of local hotel and rental car taxes.
About $500,000 a year goes into the capital reserve fund; Diesing said he was not sure how much more would be needed.
He said officials from the College World Series, the city and the Metropolitan Entertainment and Convention Authority would begin discussions with NCAA officials about where to find additional money.
“The intent is to have that (money) come out of somewhere that doesn’t affect anyone,” he said.
Among the items that the group wants to save for is a new scoreboard. Other improvements could be made as well, though no firm timeline has been established. Increased revenue within the fund would also help the general upkeep of TD Ameritrade Park, which first opened back in 2011.