FOR IMMEDIATE RELEASE

Contact:  John Yarbrough, Lee County Parks & Recreation

                (239) 461-7410

COUNTY/CITY TAKE MAJOR STEPS IN COMPLETING RED SOX DEAL

FORT MYERS, Fla. (November 4, 2003) - The Board of Lee County Commissioners today unanimously approved an interlocal agreement with the City of Fort Myers that transfers operation and maintenance of City of Palms Park to the county.

The agreement, which the Fort Myers City Council approved last night, is contingent on the county completing a 15-year lease agreement with the Boston Red Sox.  The county hopes to complete that agreement for approval by the Board of County Commissioners on Nov. 18.

The city also will hold a public hearing Nov. 17 on the interlocal agreement and a licensing agreement that allows the county and Red Sox to use the adjacent parking facilities (which will remain under the control of the city for four years).

Following are the major deal points:

Between Lee County and the City of Fort Myers regarding the transfer of City of Palms stadium:

• Lee County to assume ownership of City of Palms Park and Minor League facility.
• Transfer of property is contingent on County entering a 15-year lease with the Boston Red Sox.
• Lee County is not responsible for any bond debt on City of Palms Stadium or Minor League Complex.
• Lee County will assume all maintenance of facilities and parking lots.
• Lee County will have all scheduling rights to both facilities.
• Parking lots to remain City property (however, licensing agreement guarantees parking for all events).

The following items are proposed as part of the agreement between the Boston Red Sox and Lee County:

• Agreement is for 15 years starting with Spring Training in 2004.
• Boston Red Sox agree to pay $300,000 per year in rent.
• Boston Red Sox agree to pay $20,000 per year for capital improvements.
• Boston Red Sox agree to share in any future improvements that are more than the $20,000 per year.
• Lee County to have complete scheduling authority for both the City of Palms Stadium and Minor League Complex.
• Lee County agrees to make improvements to facility using the $1.5 million from the Tourist Development Council (bed taxes).  The improvements include repairing leaks, painting, water proofing and electrical.
• Red Sox agree to significant tourist promotions both during Spring Training and at Fenway Park in Boston.

 
The county also will assume about $1.26 million a year in operations and maintenance costs.