St. Louis Business Execs Stay Quiet On Rams Stadium Temporary Tarp Place Over Roof At U.S. Open Dolphins Unveil Sun Life Stadium Renovations Louisville Announces Stadium Expansion Plan Lexus Gets Dallas Arena's Platinum Level Name DraftKings Inks Deals With Cowboys, Chiefs, Pats University Plans Threaten Downtown Cincy Project Raiders Move Into New Training Facility Iowa State Completes South End Zone Renovations Florida Close On O'Connell Center Financing
SBD/Issue 20/Facilities & Venues
Tom And Jerry Avoid Cat And Mouse Games To Protect Interests
Published October 8, 2004
|Is Arlington Big Enough
For The Both Of Them?
MLB Rangers Owner Tom Hicks and Cowboys Owner Jerry Jones are “hammering out an agreement on how to peacefully coexist if Arlington voters agree to help fund a Cowboys stadium” near Ameriquest Field, according to Sean Wood of the FT. WORTH STAR-TELEGRAM. The Rangers have begun developing the area around Ameriquest Field, and Hicks and Jones “are working on what would eventually become a master agreement to ensure that their development interests are protected.” Hicks: “We wanted to make sure there wasn’t anything that was involved in their [stadium] that would prevent us from doing our development.” Arlington Mayor Robert Cluck said that the city has not been involved in the talks “other than to encourage dialogue.” Hicks added that he met with Jones and his son, Cowboys Exec VP & COO Stephen Jones, and that both teams “agreed they would have their staff and consultants work together to ensure the interests of each side were represented” (STAR-TELEGRAM, 10/8).
PROPERTY OF THE COWBOYS: In Ft. Worth, L. Lamor Williams notes the proposed stadium plan makes the building a “public facility and therefore exempt from property taxes. The team would pay taxes on the land, but the property would be assessed and then frozen at preconstruction value” (FT. WORTH STAR-TELEGRAM, 10/8). In Dallas, Toya Lynn Stewart reports the Arlington School District Thursday voted unanimously to approve a 30-year deal with the Cowboys “that would guarantee that the district would suffer no financial losses” as a result of the property tax situation. Under the deal, the Cowboys “would reimburse the school district each year for property taken off the tax rolls plus an annual 5.75[%] increase for the money the district would typically earn through property value escalation” (DALLAS MORNING NEWS, 10/8).