Laserfiche WebLink
TUESDAY, FEBRUARY 9, 1988 <br /> <br />Council acknowledged receipt' of staff reports on (1) a "refund" by the State <br />Department of Health to the City, in the amount of $13,101.00, from operation of <br />the local County-City Health Department for 1986-87; and (2) the status of <br />City-invested funds and the interest earned thereon for the quarter ended December <br />31, 1987. <br /> <br />Council also received from City Manager Brown his status report entitled, <br /> <br />"Professional Baseball Commitment", as a result of just having been awarded a <br /> <br />franchise, in conjunction with Mr. Dennis R. Bastien and his professional baseball <br /> <br />team operation organized as the Martinsville Phillies Professional Baseball, Inc., <br /> <br />which commitment to the Appalachian Baseball League (of which the~Martinsville <br /> <br />Phillies will be a member) requires the expenditure by the City of Martinsville of <br /> <br />the sum of $202,877,50 and the expenditure by the Martinsville Phillies of the sum <br /> <br />of $58,775°00 (for a total of $261,652.50) for improvements and new facilities at <br /> <br />English Field, where the home games of the "Phillies'" will be played. <br /> <br />connection therewith and upon motions, duly seconded and unanimously carried, <br /> <br />Council approved (for execution by City Manager Brown) two agreements, briefly <br /> <br />described as follows: <br /> <br />An agreement entitled, "Lease Agreement"', with Hooker Furniture: <br />Corporation (owner of English Field) for use by the City and <br />sub-lease use by the Martinsville Phillies Professional Baseball, <br />Inc., for an initial term five (5) years, beginning as of January <br />1, 1988, and ending December 31, 1992, with continuation <br />thereafter on a year-to-year basis unless terminated by either <br />party after sixty days notice prior to the end of any year after <br />the initial term; with annual rental to be in a sum equal to the <br />estimated or anticipated amount of taxes, assessments, levies or <br />charges to be due "in reference to the leased premises during <br />said year~; and with right to sub-lease this property for <br />professional baseball, in which case the sub-lessee must obtain <br />and maintain in force general comprehensive public liability and <br />property damage insurance (in the amounts specified in this <br />agreement); and <br /> <br /> <br />