Little League, South contract means $1M infused over 10 years
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A 25-year lease that begins in 2024 between Little League and South Williamsport Borough was recently approved and it will provide the borough $1 million over the next 10 years and help with the parking needs during the annual world series.
The lease benefits both entities, said borough Manager Steven W. Cappelli, who also serves as borough public safety director.
"When we approached the Borough of South Williamsport to extend the lease agreement that provides free parking for the Little League Baseball World Series, we learned of the Borough's need for a new building," said Kevin Fountain, senior director of communications for Little League International.
Little League International agreed to make a significant advance payment on the 25-year lease agreement and to transfer ownership of an offsite Little League maintenance building to assist the borough with their development plans.
"We remain grateful for the dedicated support from the Borough and are pleased we can help with this needed community project, while continuing to provide free parking for our World Series fans," Fountain said.
As per the lease agreement, Little League International will pay South Williamsport Borough an initial contribution of $500,000 in the first year of the agreement, with $1 million over the course of the next 10 years of the term, which averages $40,000 a year over the course of the 25-year lease."
It means Little League will have parking for the series and the borough will have the money for a planned 8,000 square foot building to be located at the site of the former swimming pool complex.
The land lease, covering 29 acres, runs from 2024 through 2049.
The terms indicate it will help to provide spectator parking during the annual world series and contribute to the cost of the building that will house local government, and host recreational and other activities.
The present-day lease was signed in 1999 and expires next year, Cappelli said.
The renegotiated lease agreement provides the borough with a $500,000 payment next year, followed by annual payments of $50,000 in 2025-2034, according to its terms, he reiterated.
The agreement also transfers maintenance responsibility for the complex's two Little League fields to Little League International.
"This provision will ensure both fields are brought up to the highest playing and safety standards," Cappelli said.
He noted how Little League's $500,000 initial lease payment is crucial to the borough's planned construction of a building that will serve generations, housing local government operations and a host of recreational, entertainment and community activities for years to come.
"The borough is most grateful for its partnership with Little League and their commitment to supporting this important capital project," Cappelli said.
Total project cost of this building project is $2.9 million and, with Little League's contribution, the new facility will be debt-free when completed, Cappelli noted.
He also wanted to ensure that the remaining $2.4 million of the community project costs is being covered by state and federal grants and a small amount of reserve funds. The remaining cost of the project funding will avoid any public borrowing or long-term legacy debt, he said.