The Richmond Kickers are pursuing a new lease at City Stadium that could include $20 million in facility upgrades.
In December, the Richmond City Council will consider the proposal from the Kickers. Under the terms of the lease, the Kickers would remain at City Stadium for 40 years, while paying related utilities, maintenance, and taxes.
One of the key components of the deal is a plan by the Kickers to put $20 million into City Stadium. Rather than attempting to fund all of the upgrades at once, or to plan multiple phases in quick succession, the Kickers would spread the projects out over decades. More from RichmondBizSense.com:
The lease calls for Phase 1 of the upgrades to include around $385,000 of improvements to landscaping, fencing, the parking lot, seating, the field and irrigation, to be completed by 2020.
Phase 2 calls for an additional $3 million to improve the concourse, signage, stadium lighting, team facilities and rehabbing the restrooms by 2030.
The final phase would run through 2050 and calls for improvements in parking, a press box, additional seating, mini-fields and Futsal courts and other measures.
The agreement would remove the burden of upkeep off the city’s shoulders while bringing the stadium further into the tax rolls. The Kickers would pay leasehold taxes, and ideally, once improvements are made, increased admissions and sales tax.
The Kickers have used City Stadium since 1995. The facility itself dates back to 1929.
Image courtesy Richmond Kickers.