Lease Oversight
The Ballpark PFD and the Seattle Mariners agreed to a new 25-year lease for T-Mobile Park in December 2018. The role of the PFD is to ensure compliance with the terms of the lease and to oversee the public’s investments in T-Mobile Park. The lease requires the Mariners to maintain and improve the ballpark to ensure that it remains among the top one-third of all major league ballparks. The lease also requires the Mariners to operate the ballpark as a first-class facility, consistent with other top tier ballparks. Under the lease, the Mariners committed to pay for all ballpark operations and maintenance costs, as well as all capital improvements at the ballpark, above the fixed contributions to capital improvements from the PFD and King County.
The PFD evaluates the Mariners’ compliance with these obligations through its review of the Mariners’ annual Ballpark Management Plan and Operations Plan. These plans describe the Mariners’ anticipated management, operations, and capital investments for the next year, along with a community benefits report for the previous year. In addition to this annual plan review, the PFD may conduct performance audits of the ballpark operations, management, and capital expenditures. The PFD can also audit finances related to the team’s financial commitments regarding revenue sharing, the Mariners’ contributions to stadium operating expenses, and tax revenues generated through operations at T-Mobile Park.
The PFD also works with the Mariners to provide public benefits that enhance the fan experience and improve the neighborhood surrounding the ballpark. These enhanced benefits include requirements for community use of the ballpark, affordable ticket prices, labor harmony agreements, inclusionary goals for contractors, and prevailing wage rates for certain work. Community benefits are also provided through a Neighborhood Improvement Fund, disbursements from which will be made by the PFD after consultation with the Mariners.
A major highlight of the lease is a commitment by the Mariners to stay in Seattle and T-Mobile Park for at least 25 years, and maybe longer. That commitment is backed by a new Non-Relocation Agreement, which includes strict provisions and substantial penalties for default.
The objectives of the new lease, a summary of its key terms, and a summary of the non-relocation agreement can be found below.