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LUBBOCK, Texas - The City of Lubbock and the Lubbock Cotton Kings were not able to reach an amicable lease agreement for the use of City Bank Coliseum, officials announced today.
"We are disappointed that we have not been able to reach an agreement with the Cotton Kings," said City Manager Lee Ann Dumbauld. "We worked tirelessly to reach an agreement that would be fair to both the taxpayers as well as the team. "
In January, City staff began meeting with franchise owners to discuss a de4al to keep the Cotton Kings at City Bank Coliseum.
The proposed lease agreement included $90,000 in coliseum rental charges, which is equivalent to the fees assessed to other sporting events currently using the facility. In addition, the Cotton Kings would have the rights to operate concession sales at all ice events and would receive a $50,000 cash commission in appreciation for securing the City Bank sponsorship for the coliseum.
The proposed lease agreement reflected a $60,000 increase in rent from last year, but City officials say that the team could make up the difference through concession sales.
"Team owners approached us with the idea that they could pay normal and customary rental fees at the coliseum if we gave them the right to operate concessions," said Dumbauld. "The proposed agreement reflects this change."
In the past, the City funded all of the expenses related to operating a hockey rink in the coliseum including operations and maintenance of the ice plant and Zamboni.
Under the proposed agreement, the City stood to lose approximately $63,000 on expenses associated with operating ice hockey at the coliseum. City staff estimates that it would cost an equivalent amount if the building was not used for six months.
The City Fire Marshal and Building Official are conducting a Fire and Life Safety Analysis on the auditorium and coliseum. The firm of Parkhill, Smith, and Cooper is donating its services to prepare a cost analysis with several alternatives. The report will present city officials with options ranging from minimal repairs addressing immediate concerns to a comprehensive renovation that would make the facilities viable for another 20 years.
(Press Release from Scott Snider, Assistant City Manager Community Services)For a video of the full story, click on the gray "Watch" Icon.