Astros Owner Drayton McLane Jr. agreed to an updated
ballpark plan yesterday that has him paying for a "larger
portion of the costs," according to John Williams of the
HOUSTON CHRONICLE. Under the agreement, signed by Houston
Mayor Bob Lanier and Harris County Judge Robert Eckels, the
Astros will pay $4.6M in annual lease payments instead of
the $3.3M agreed upon last September. Taxpayers will also
provide "no more than" $180M to the project. After
"failing" to receive more funding from taxpayers to cover
cost overruns, McLane "won other changes," including control
of any sale of PSLs, which were originally targeted to cover
$15M worth of the stadium costs. But Astros Senior VP Bob
McClaren said that the team is "undecided" about whether to
sell PSLs at this time. Lanier and Eckels also committed
the city and county to each pay $2.15M in design expenses
"so that a final cost of the stadium can be known" by the
September 8 target date." The new agreement means McLane
"cannot consider moving the Astros to another city unless
the ballpark's final cost comes in above the agreed-upon
$250 million" (HOUSTON CHRONICLE, 7/17).
