ARLINGTON, Texas (AP) — The Arlington City Council has approved a master agreement setting forth the public-private setup to build a retractable-roof ballpark for the Texas Rangers.
The unanimous vote Tuesday night begins the process for placing on the Nov. 8 ballot an extension of the sales, car rental and hotel occupancy tax already levied to build AT&T Stadium, the home of the Dallas Cowboys.
The new ballpark and related infrastructure is estimated to cost about $1 billion, with the city and the Rangers splitting the cost with the city’s burden capped at $500 million. If voters approve the extension, the tax revenue would pay off the bonds the city floats to finance its half of the project cost.
The new park, which would be leased to the Rangers for 30 years, is expected to seat at least 38,000 fans.
issued the following statement this evening following the Arlington City Council unanimously approving a master agreement that outlines a public-private partnership with the Rangers for possible construction of a new retractable-roof ballpark and supporting development in the Entertainment District:
“Tonight’s action by the City Council is an important step in the process in this public-private partnership to build a new ballpark for Arlington and all our fans.,” said Texas Rangers Co-Chairman Ray Davis in a statement. “I want to thank and commend Mayor Jeff Williams and the Arlington city leaders for their vision in reaching out to us and helping put together and approving this historic agreement. The Rangers are excited about the possibility of calling Arlington home for many years to come, and we are committed to building a world-class facility which will provide the best possible experience for our fans. We look forward to working with Mayor Williams, the city leaders, and the citizens of Arlington over the next several months to insure that this dream becomes a reality.”