Branson board works to amend ballpark project details

The Branson Board of Aldermen yesterday approved the first reading of two bills designed to amend Ballparks of America LLC’s plans to build a large-scale ballpark project at the site of the city’s defunct Red Roof Mall.

One bill would give Ballparks of America - a group of Chicago investors - ownership of the buildings on the property, and the other would amend a lease agreement signed last year, according to the board’s agenda.

If approved, the purchase agreement would allow Ballparks of America to buy the former Factory Merchants Mall buildings for $100. The agreement requires the company maintain the buildings and keep them standing.

According to a city news release, the sale, which does not include the land, would help the company finance its roughly $24 million planned project.

The second bill would give Ballparks of America more time before it is required to pay rent on the land.

In May 2014, Branson entered into a 35-year lease agreement with the company for 46 acres. The deal gave the company until Dec. 31 of this year to start paying rent. The new bill would extend that timeline by a year.

The new agreement would require Ballparks of America to start paying $2,000 per acre per year on Jan. 1, 2017, through June 30, 2050. Rent is capped at $100,000 per year. The company also is required to pay the city a percentage of gross receipts - starting at 1 percent in 2017 and growing to 5 percent by 2025 - paid by subtenants or temporary tenants.

Factory Merchants Mall closed in late 2011. Simon Property Group bought out its lease in December 2011, giving control back to the city. The ballpark plan includes the mall and surrounding vacant land at 1000 Pat Nash Drive.

Ballparks of America originally planned to have its development up and running by this summer. The development plan calls for up to 16 replica baseball fields, including dimensional designs of Fenway Park and Wrigley Field, batting cages, practice diamonds, concession and catering facilities, arcades and playgrounds.

In April, Branson Tri-Lakes News reported the project was delayed until March 2016.