DALLAS — The Arizona Sports & Tourism Authority has unanimously approved a funding plan for two new baseball spring training complexes in Maricopa County that will use up the authority’s remaining capacity through its scheduled demise in 2031.
The AZSTA will give a combined $80 million to Goodyear and Glendale to finance a portion of their proposed spring training complexes.
The authority said it no longer has any ability to finance further stadium proposals. The AZSTA’s funding sources are set to expire in 2031.
The authority agreed on Thursday to finance about half of Goodyear’s proposed $56 million complex for the Cleveland Indians. The AZSTA also agreed to donate land next to the stadium site to the city.
A memorandum of understanding between the authority and Goodyear is to be completed by Jan. 31. The city wants to begin construction in February so the complex can open in time for spring training in 2008.
Goodyear Mayor James Cavanaugh said the city will ask voters to authorize the sale by the Goodyear Municipal Property Corp. of up to $18 million in general obligation bonds to provide the city’s share of the cost of the complex.
Voters approved a $10 million GO bond package for the complex in 2004.
The city intends to use the money from the AZSTA to pay two-thirds of the debt service on the bonds.
The AZSTA will also provide approximately two-thirds of the funding for Glendale’s $80.7 million two-team facility. Glendale will finance the remainder of the project with tax revenues generated by commercial and residential development around the stadium.
The Glendale complex will house the Los Angeles Dodgers and the Chicago White Sox. However, the funding plan stipulates that the White Sox cannot move from their current spring training site in Tucson until 2013 unless a team is found to replace them.
The Dodgers and Indians currently train at sites in Florida.
The AZSTA’s long-term funding plan includes $28 million for planned renovations at five existing spring training facilities in Maricopa County that serve seven Major League Baseball teams.
The authority initially said this fall that it had about $50 million available for new training sites, enough money to finance only one of the two proposed complexes. However a recent review of economic projections showed sufficient revenues to provide both proposals with financing in accord with the agency’s policy of funding half the cost of a one-team training complex and two-thirds of a two-team facility.
AZTA chief financial officer Charles Foley said higher-than-expected revenues from the authority’s dedicated car rental and hotel taxes in Maricopa County helped provide the additional funding. However, the most significant factor was the decision by the Maricopa County Stadium District to share its $2.50 surcharge on car rental contracts with the AZSTA.
