Update Again Again: OPACY lease officially official, done and approved, for real this time

[HakunaSakata]

FYI. I'm on the MD Board of Public Works mailing list because I work for an engineering firm that does quite a bit of work with state agencies. It looks like they've scheduled a special meeting downtown (it's usually helpd in Annapolis) to specifically discuss the new lease agreement. If you click on the hyperlink in the date you can access the meeting agenda which has all the details about the proposed agreement For context, the Maryland Stadium Authority will be presenting the new lease agreement for approval at this meeting. Typically the meetings in Annapolis are open to the public. I'm not sure about about this one though. 

Available now:  12/18/23 BPW Agenda for

the Board of Public Works meeting to be held on

Monday, December 18, 2023 at 3:15 p.m. 

Meeting location:

Warehouse at Camden Yards

[NCRaven]

They are also usually open virtually.  I haven't checked the BPW's schedule, but that should be an option.

[ThisIsBirdland]

Just read the summary of what the state released on the deal in the Banner. Sure reads like Angelos blinked and the state recaptured more favorable terms. State control over the development process feels appropriate, all Angelos seems to have secured is a commitment from the state to deliberate it over four years but with no commitment. The fact that the lease can be opted out after fifteen years if no development deal is reached doesn’t come to pass doesn’t feel that onerous to me, but maybe because I’ve always expected some agreed upon development to occur.

[SilentJames]

3 minutes ago, ThisIsBirdland said:

Just read the summary of what the state released on the deal in the Banner. Sure reads like Angelos blinked and the state recaptured more favorable terms. State control over the development process feels appropriate, all Angelos seems to have secured is a commitment from the state to deliberate it over four years but with no commitment. The fact that the lease can be opted out after fifteen years if no development deal is reached doesn’t come to pass doesn’t feel that onerous to me, but maybe because I’ve always expected some agreed upon development to occur.

Yeah this feels like a fine deal. The taxpayer money in question was money that was already spent that the team now just has access to. The team was never going to move under this ownership, no one was threatening that. 

That was the one thing I never really worried about with Angelos (Pete or others) none of them seemed to have any appetite for entertaining any move of the team. 

[interloper]

https://www.thebaltimorebanner.com/politics-power/state-government/heres-whats-in-the-new-proposed-lease-and-development-deal-for-the-orioles-YTQM2VF6RZEIBADJJCUI7VBNYI/

Sounds like the redevelopment stuff is getting kicked down the road to 2027?

Edited December 15, 2023 by interloper

[survivedc]

1 minute ago, interloper said:

https://www.thebaltimorebanner.com/politics-power/state-government/heres-whats-in-the-new-proposed-lease-and-development-deal-for-the-orioles-YTQM2VF6RZEIBADJJCUI7VBNYI/

Sounds like the redevelopment stuff is getting kicked down the road to 2027?

Would make a lot of sense if so. There are 3 major projects going on right in the neighborhood of OPACY, good idea to let those play out a bit.

[HakunaSakata]

1 hour ago, NCRaven said:

They are also usually open virtually.  I haven't checked the BPW's schedule, but that should be an option.

Yep, it is. Here's a link to the stream if someone wants to bookmark and check on the day of. 

https://www.streamtext.net/player?event=BPW

[HakunaSakata]

7 minutes ago, interloper said:

https://www.thebaltimorebanner.com/politics-power/state-government/heres-whats-in-the-new-proposed-lease-and-development-deal-for-the-orioles-YTQM2VF6RZEIBADJJCUI7VBNYI/

Sounds like the redevelopment stuff is getting kicked down the road to 2027?

Yep, that is correct. I guess it could "technically" get done before then, but the end of 2027 is the official new deadline. 

[Roll Tide]

 

[Roll Tide]

I’m against opt outs in a stadium lease. 15 is better than 10 but still. $600 million for half a commitment. 

[Roll Tide]

 

[Roll Tide]

 

[Roll Tide]

 

[Roll Tide]

 

[Sports Guy]

The terms of this lease make me think JA won’t be selling any time soon.