City council OKs researching baseball plan

The Vancouver City Council got its first formal presentation Monday on a proposal for the Class A Yakima Bears to move to the city.

With the exception of Councilor Pat Campbell, who said “we don’t need a baseball team now,” the council gave City Manager Eric Holmes the OK to research the issue and engage in potential discussions with Clark County.

Clark County commissioners are expected to sign a non-binding letter of intent Tuesday with Short Season LLC, the owners of the Yakima Bears.

If commissioners sign the letter, the county will want to discuss an interlocal agreement with the city on issues including financing, Holmes said.

The proposal includes plans for a $23 million stadium at Clark College and a countywide entertainment admissions tax.

Revenues from the tax would pay off construction debt; the stadium would be publicly owned but maintained by Short Season LLC.

The county estimates $900,000 could be collected every year. More than half of that would be collected within Vancouver city limits.

The tax would raise the price of a $10 movie ticket to $10.50, for example.

When councilors asked why any type of public financing was necessary, project manager Mike Thiessen of Short Season LLC said the team would be putting up 30 percent of the construction costs for a stadium it would use 13 percent of the time.

The Yakima Bears would play 38 games a summer.

Thiessen said a stadium built last year in Illinois used public money, but it came directly out of a city’s general fund.

Councilors Larry Smith and Jack Burkman said they wanted to hear alternatives to an admissions tax. They didn’t get any.

After the workshop, co-owner K.L. Wombacher said the team does have alternate plans, but they don’t involve the city of Vancouver.

“This is our first choice,” said Wombacher, whose team nabbed exclusive negotiating rights to a market that opened up after the Beavers left Portland.

The Portland-Vancouver market is the largest metropolitan area in the country without a professional baseball team.

“Baseball will return to the area,” Wombacher said.

But the team might be in Beaverton, Milwaukie or Portland, he said.

“There isn’t a stadium in the country that didn’t use some type of public financing,” Wombacher said.

The team’s contract in Yakima doesn’t expire until 2015, but the team wants to take advantage of the opening created by the Beavers.

Letter Of Intent Free Examples - News


City council OKs researching baseball plan

Clark County commissioners are expected to sign a non-binding letter of intent Tuesday with Short Season LLC, the owners of the Yakima Bears. If commissioners sign the letter, the county will want to discuss an interlocal agreement with the city on



Doing Deals — 3 Tips for Entrepreneurs (Part 3)
Doing Deals — 3 Tips for Entrepreneurs (Part 3)

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Siemens' CEO Discusses F3Q 2011 Results - Earnings Call Transcript

A good example of an important strategic partnership is the recently announced letter of intent with the Australian company Lynas; and we will set up a majority joint venture to produce rare earth magnets, which will be used in our energy-efficient



Carp can be harvested -- but who will eat it?

He has specialized deboning equipment for Asian carp, which are notoriously bony fish; recipes, and a marketing and business plan that includes processing plants in several states and even a letter of intent from Wal-Mart to distribute Asian carp fish



Brady Hoke's 'lunch-pail approach' has Michigan burning up the recruiting trail

If each signs a letter of intent in February, it would be the Wolverines' second-largest bounty from that state since at least 2002. Hoke's Ohio pedigree certainly helps him to mine the area, but the scandal that is unfurling at Ohio State helps to




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Letter Of Intent Free Examples - Bookshelf

Profit from Your Idea, How to Make Smart Licensing Deals

Profit from Your Idea, How to Make Smart Licensing Deals

A letter of intent is usually not a binding contract. That is, even if you sign it, you can still reject the deal for any reasonable basis. For example ...

Financing Your Small Business

Financing Your Small Business

Appendix SAMPLE TERM SHEETS, LETTERS OF INTENT, AND ENGAGEMENT LETTERS The samples in this appendix do not constitute legal advice but are only guides to ...

The art of M & A, a merger, acquisition, buyout guide

The art of M & A, a merger, acquisition, buyout guide

APPENDIX 7A Sample Letter of Intent STRICTLY PRIVATE AND CONFIDENTIAL [Date] Target Corporation1 Corporate Office Park New York, New York To the Board of ...

Model Asset Purchase Agreement: Exhibits, ancillary documents, and appendices

Model Asset Purchase Agreement: Exhibits, ancillary documents, and appendices

The sample Letter of Intent contemplates the proposed acquisition by a single corporate buyer of substantially all of the assets of a privately held company ...

Get Paid to Play, Every Student Athlete's Guide to Over $1 Million in College Scholarships

Get Paid to Play, Every Student Athlete's Guide to Over $1 Million in College Scholarships

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Letter of intent - Wikipedia, the free encyclopedia
For the "letter of intent" in U.S. college sports, see National Letter of Intent. ... A letter of intent or LOI is a document outlining an agreement ...

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Letter of Intent - Examples
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