City Council Approves Agreements that Move
Rangers Ballpark Closer to Reality
M
onths before the heavy construction equipment is set to move
in, the Arlington City Council continues laying the groundwork
necessary to make the future Texas Rangers retractable-roof
ballpark a reality.
Several additional key documents
were presented to the City Council
for consideration on June 27, 2017.
These documents include:
The City Council unanimously approved a master agreement in May 2016
that outlines the public-private partnership with the Texas Rangers for
construction of the retractable-roof ballpark and supporting development
in the Entertainment District. • Funding and Closing Agreement
In the subsequent months, the City and the Rangers have drafted
nearly a dozen additional legal documents related to the financing
and development of the voter-approved Texas Rangers ballpark. These
key documents cover topics ranging from parking lot leases to the
maintenance and operation of Globe Life Park once the new ballpark
opens in 2020. • Amended and Restated
Development Property Lease
The City Council took two actions in May of this year to progress the
development of the new ballpark. The first was approval of a Non-
Relocation Agreement that commits the Texas Rangers to playing home
games in Arlington through January 1, 2054. The Texas Rangers’ current
commitment to play home games in Arlington is set to end in 2024.
The second action creates space for the future climate-controlled ballpark,
which is set to open in 2020 south of Globe Life Park in Arlington. The City
Council approved the abandonment of a section of Nolan Ryan Expressway
from Randol Mill Road to Cowboys Way. This section of roadway will
become part of the future ballpark development.
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• New Ballpark Lease
• New Ballpark Lease Guaranty
• New Ballpark Purchase Option
• Amended and Restated
Development Property Option
• Amended and Restated Lease
(Stonegate, Lots F,G,J and N,
Division Street property)
• Amended and Restated
Convention Center Parking
Agreement
• Third Amendment to Existing
Ballpark Lease
• First Amendment to Center Field
Office Building Lease
• Lease Termination- Parking Lot A