Yes on 420 Campaign Touts Stadium Rent as Big Plus

Yes on 420 Campaign Touts Stadium Rent as Big Plus

According to recent E-mails and letters distributed by those in favor of a yes vote on Proposition 420 this fall, there are ten significant reasons to approve development of a new spring training facility for the Chicago Cubs baseball team. Since there is much at stake in making an informed decision on this matter, it is probably best to examine these claims one by one.

Among the important facts the “Keep the Cubs – Vote Yes on 420” people would like everyone to know is that the Cubs will pay rent for use of the stadium and other improvements. Since the Cubs and the City of Mesa have not revealed what the rental amount will be, a little research dug up the industry standard for Cactus League teams. Available for all to see on the internet is the agreement between the City of Glendale and the Los Angeles Dodgers and the Chicago White Sox regarding the terms of use at the new Glendale-owned facility on west Camelback Road. This project has won numerous awards and has been described as the “Taj Mahal” of spring training facilities. So, how much rent can you get for such a state-of-the-art facility.

It turns out each team pays the City of Glendale a total of one dollar ($1.00) per year in rent, for a grand total of $2 annually. The good news here is that the rent is payable in advance, meaning Glendale can draw interest on these funds for twelve months. No wonder Mesa politicians are so anxious to spend vast sums of taxpayers money on this concept. Where else could you get $2 per year rental income on an investment of $200 million?