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Brook Park council introduces predevelopment agreement for proposed stadium, including $24.8 million upfront
Summary
Mayor Orcutt told council the predevelopment agreement would secure $24.8 million from the developer to cover permit fees and startup costs while preserving a path to transfer ownership to a to-be-formed stadium authority; council approved amendments and scheduled further review in executive session.
Mayor Orcutt urged council to consider a predevelopment agreement that would underwrite early costs for a proposed stadium project and said the document is a predevelopment step, not the final development agreement. The administration said Haslam Sports Group (HSG) and other development partners have participated in negotiations.
Matthew Mullins, a representative of the developer team, told council the addition of a proposed section 11 is a fallback to allow the developer to control transfers of the site until a Stadium New Community Authority (NCA) is formed. "Ultimately, the plan from both the city and the developer team during negotiations is for the site to be owned by the new community authority," Mullins said. He noted the NCA does not yet exist and that the predevelopment agreement and city-issued exemption certificates bridge that gap.
Orcutt said the agreement ties a sales-tax exemption and permit-fee treatment to a $24.8 million payment from the developer that would fund start-up costs and capital investments for the city, rather than the city waiving fees outright. He outlined an installment plan the administration included in the amendment package and said funds would be used for personnel, equipment, sidewalks, and other infrastructure the city must provide: "That 24.8 certainly will cover those fees and all the other necessary capital investments that we need and extra increased operational cost with additional personnel," Orcutt said.
Council members pressed for detail about governance and timing. Councilman Poindexter asked what would happen if the NCA were not formed; Mullins and the mayor said the predevelopment agreement preserves a path for the city to accept ownership upon completion but that the administration’s intention is to form the NCA and lease the stadium to an operator. The mayor said the final development agreement and public hearings will contain the specifics and that the council will be invited into executive session for detailed financial negotiations.
Council moved and adopted two sets of amendments during the meeting: one that inserted a section (number 11) clarifying that the developer or Stadco is not obligated to transfer interests absent a written agreement, and a second set of technical edits that adjusted payment amounts, installment counts and dates. The ordinance (Order No. 11528-2026) had its first reading as amended; the administration said it plans further public briefings and an executive session for council to review financial details ahead of a final development agreement.
What’s next: Mayor Orcutt said he will call an executive session with council for detailed negotiations and expects to present a final development agreement for council consideration after that work and further public presentations.
