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• $6 million: Annual condition contribution to the Money Improvement Fund for every single of the the 30 yrs of the lease.
• $6.67 million: Once-a-year point out contribution into a routine maintenance and maintenance fund. The payments will final for 15 years. The county will not pay into this fund.
• Up to $4 million: Believed yearly contribution to money advancements produced by Erie County by means of game-working day surcharges – in essence a tax – on stadium end users who purchase tickets, concessions and other objects sold at the new facility.
• $900,000: Estimated annual contribution to the cash improvement fund from Expenditures lease payments.
All instructed, the condition would pay just below $12.67 million a 12 months in ongoing prices for the initially 15 several years of the lease. That figure is near to the $13.2 million every year that New York and Erie County blended – each individual spending $6.6 million – at this time pay into a funds fund and for functioning expenses under the 2013 stadium renovation offer. It will fall to $6 million per 12 months for the final 15 many years of the lease.
Below the new agreement, the point out no for a longer time would shell out for match day or running charges at the stadium. These will be the obligation of the Bills. And, not like the current stadium, the point out – not Erie County – would personal the new location.
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