At its first meeting the Maricopa County Stadium District board heard a staff presentation on the district's history, current finances and expected new revenue streams under HB 2704. Counsel told the board the district's legal entity and existing contracts remain in place despite the recent reconstitution of the governing board.

Staff described historical financing, noting a transaction-privilege tax funded $238 million of initial construction and that a $2.50 car-rental surcharge has for years supported spring-training funding but is currently remitted to the Arizona Sports and Tourism Authority under a 2003 intergovernmental agreement. The Cactus League fund was described as receiving roughly $9.5 million annually with a current balance of about $75,000 while the ballpark operations fund was reported as just under $2 million. The JLBC fiscal note used in legislative debate estimated about $20 million per year in new revenue under HB 2704.

Derek Hall, president and CEO of the Arizona Diamondbacks, and other team representatives described stadium management as a mix of in-house facility staff and outside contractors for major projects. Hall said the team has invested heavily in the stadium, cited past unplanned repair costs (an example described as roughly $500,000) and outlined a multi-phase capital plan rather than a single large borrowing to address ongoing infrastructure needs.

The board discussed the operational relationship established by the 2018 binding MOU that assigned operations and maintenance responsibilities to the team and noted the district currently receives an annual $250,000 administrative fee under that MOU. Members asked for additional materials: a full copy of HB 2704, the 2018 MOU, a legislative summary and a two-year schedule of events to inform future scheduling and lease negotiations.

Sen. Mitzi Epstein requested that instructional guidance on open meeting and conflict-of-interest law be presented in public while legal advice on negotiation terms occur in executive session; outside counsel confirmed some negotiation terms may appropriately be discussed in executive session under the open meeting law. The board then voted to move into executive session for the personnel and negotiation matters listed on the agenda.

Next steps the board assigned include providing members with the HB 2704 legislative summary and 2018 MOU, producing a public schedule of near-term meeting dates and posting agendas on the county-hosted Stadium District page until the district establishes its own web presence.