House approves 50-year lease option for State Fair Park to attract investment

Representative Butters introduced Senate Bill 234, which increases the maximum lease term at State Fair Park by 15 years (to allow leases up to 50 years) so the Fair Park can draw long-term private investment, including interest from a major sound-stage company.

Butters said the extension will allow Fair Park to enter into long-term leases and help the Park become more self-sustaining. "We have some major companies or interest from major companies that need a 40 to 50 year lease to be able to build there at the Fair Park," he said.

Opponents questioned whether the Fair Park should be subsidized and whether relocation might produce a more self-supporting operation. Representative Farren said he opposed the bill because other locations might better support a profitable state fair; supporters, including Representative Noel and others, said the Park serves statewide educational and agricultural purposes and merits support.

Representative Butters and other supporters emphasized the cultural and educational value of the state fair and the difficulty of attracting private investment without longer lease terms. The House approved SB 234, 56 yes to 10 no. The bill will be returned to the Senate for signature.

What happens next: Following enrollment and signature, a finalized bill would permit longer-term lease agreements intended to attract private capital to Fair Park projects.