Additional funds have been committed for the upkeep of TD Ameritrade Park, and are expected to provide enough to cover future upgrades.
In their new agreement the City of Omaha, NCAA, and College World Series of Omaha Inc. will partner to increase the annual amount of money that is allocated to a capital replacement and reserve fund that covers changes to TD Ameritrade Park. The fund is in place to pay for capital improvements to the ballpark in the future, likely including aspects such as technology and playing conditions.
The Omaha City Council approved a contract that included that agreement on Tuesday, a decision that came after the NCAA and College World Series of Omaha Inc. had given their consent to the deal. As part of the contract, the annual sum of money that is placed into the fund will begin increasing, allowing officials to plan future changes to TD Ameritrade Park. More from The Omaha World-Herald:
The new agreement says that annual payments into the “capital replacement and reserve” fund for the ballpark will grow from $500,000 to $800,000 this year and will eventually reach $1.4 million.
Each of the three entities is absorbing some of the extra expense, said Omaha Finance Director Steve Curtiss. In the city’s case, that means redirecting about $300,000 per year that has been going toward a reserve fund for ballpark debt payments, once that fund reaches $3 million. Curtiss said he doesn’t know when it will reach that amount, though it won’t be for a few years.
Curtiss said the money will be used for items like replacement seats when the current ones wear out and potentially a new scoreboard. Kristi Andersen, a spokeswoman for the Metropolitan Entertainment and Convention Authority, said other projects could be keeping technology up to date, field improvements and building improvements such as carpet and furnishings.
TD Ameritrade Park originally opened in 2011, and will host its seventh College World Series this month.
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