The Dodgers’ new owners will pay $14 million per year to rent the parking lots from an entity half-owned by Frank McCourt, according to land-use documents intended to “facilitate the orderly development” of the property surrounding Dodger Stadium.
The potential uses for the property include shops and restaurants, homes and offices, and another sports venue, according to documents obtained Friday by The Times. The documents also discuss the possibility of parking structures on the land.
Mark Walter, the Dodgers’ controlling owner, said Friday that his group is not contemplating any development at this time.
“Someday, there could be,” he said. “We have no plans to build now. We have no plans for parking structures now. In the next 100 years, that could easily happen.”
Guggenheim Baseball agreed to a 99-year lease with the company that owns the parking lots, a joint venture between McCourt and an entity affiliated with the new team owners. Walter said McCourt would get some portion of the annual $14-million rent, after accounting for expenses and return on investment.
Posted: May 05, 2012 at 12:59 AM | 248 comment(s)
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