Travelers' $230,000 covers ballpark rent
The Arkansas Travelers baseball team has paid $230,000 to the city as the lease payment for Dickey-Stephens Park under an amended ballpark debt arrangement reached last year.
The restructured rent will pay off a $1.85 million loan from April 2014 to cover the remaining cost overrun for the construction of the ballpark that opened eight years ago this month. The reworked arrangement of a 2007 contract provides a fixed amount for the Travelers to pay by April 15 each year over a 10-year period.
The city used about $28 million from a voter-approved 1 percent city sales tax over two years to build the ballpark but was left with a $6 million cost overrun. The ballpark's $40.4 million total cost also included private contributions and the value of the land donated for the ballpark.
The ballclub's previous payments, based on a baseball season's net revenue, went toward the original cost overrun but didn't cover any interest or fees on the loans that would have been the city's responsibility when a balloon payoff came due in 2016. Through last year, the Travelers had paid $5.77 million over seven years.
The ballclub's payment this month was deposited with the city's Public Building Authority, Finance Director Karen Scott said. The Public Building Authority is an independent board that is responsible for making the subsequent loan payment due May 1.
Aging firetrucks out as new ones roll in
Three new firetrucks arrived Monday to replace ones in the city's aging fleet, Fire Chief Jim Murphy said on a social media site.
The arrivals allowed two trucks, which Murphy said had become unsafe to drive, to be taken out of service.
The City Council approved Feb. 2 waiving formal bidding to buy three Pierce fire engines for $396,096 each. The trucks were purchased at a discount that saved $81,000, plus the cost of ongoing repairs of several firetrucks in the fleet, Murphy said at that time.
The purchase is the first part of Mayor Joe Smith's five-year plan to replace 12 firefighting vehicles that Smith has said average about 13 years in age.
Great cleanup near; volunteers sought
Registration is underway for the annual Great North Little Rock Cleanup to be held 8 a.m.-noon May 16.
Individuals, families, church groups and civic organizations are asked to volunteer to help clean up neighborhoods and parks as part of the nationwide Great American Cleanup. Team members will receive a free T-shirt.
A pizza party for all volunteers will be provided at the Lakewood Village Pavilion at the Lakewood Village Shopping Center after the cleanup.
Registration is available at the new Keep North Little Rock Beautiful website at knlrb.org or by email at Green@knlrb.org.
Metro on 04/19/2015