Wahconah Park Update

Pittsfield, Massachusetts, Tuesday, March 9, 2004

Jim Bouton outlines plans for renovating historic Wachonh Park at a Parks Commission meeting last night at Springside House. The commission unanimously endorsed a licensing agreement between the city and Bouton's partnership.

PITTSFIELD -- The city's Parks Commission last night endorsed a license agreement be-tween the city and a South County partnership that plans to bring an independent league baseball team to Wahconah Park and invest $1.5 million in renovating the park.

Applause followed the five-member commission's unanimous vote, which was taken after city officials and the principals of Wahconah Park Inc. presented details of the eight-page agreement to the panel and an audience of about 40 people gathered at Springside House on North Street.

The pact was characterized as the cornerstone of an effort to transform the park into a national tourist attraction that will be home to a baseball team that Pittsfield can call its own.

'Pittsfield's forever'
"We're creating a team that will be Pittsfield's forever," said Donald B. "Chip" Elitzer of Great Barrington, an investment banker who is secretary-treasurer of a partnership that includes former New York Yankees pitcher Jim Bouton of North Egremont and Eric Margenau of New York City and Stockbridge, a minor league sports entrepreneur. Bouton is the group's president.

Elitzer said the partnership foresees no difficulty in purchasing an unaffiliated minor league baseball team to take the field at Wahconah Park for the 2005 season. He declared that the partners aim to structure the franchise agreement such that Wahconah Park will be the team's permanent home.

During the intervening year, said Bouton, extensive renovations of the park will be undertaken. Highlights of the plans include an increase in seating capacity to 5,000, construction of a covered "hall of fame walkway," expansion and renovation of restroom facilities, a 20-fold increase in the space available for concessions, and the allocation of more space for picnicking.

"This is going to be one of the largest eating establishments in Pittsfield," said Elitzer.

Pittsfield Mayor James Ruberto, left, laughs with David 'Chip' Elitzer, center and Jim Bouton at Springside House before the Parks commission meeting started last night.

Summer groundbreaking
Elitzer said the partnership aims to break ground early this summer. Replying to questions from members of the Parks Commission, Elitzer and Bouton said the work will not interfere with use of the park for football next fall.

The license agreement takes effect upon signing and expires Oct. 31, 2005. It may be renewed annually if the partnership fulfills four conditions: provides a professional baseball team that plays its home games at Wahconah Park; complies with an ex-pense formula detailed in the agreement; performs all maintenance and repairs, and allows the park to be used for "other family and community activities on dates and at times when no event has been scheduled by the club."

Under the agreement, Wahconah Park Inc. will invest $1.5 million in capital improvements and facility expenses in the park prior to opening day 2005.

"However, after $1 million is expended on the park and to the extent that $1.5 million has not been fully expended prior to opening day 2005, the club may satisfy this requirement by placing the unexpended balance in escrow for the payment of future capital improvements and facility expenses," the document reads. "In the event that the club does not meet this commitment, then this license agreement shall be considered null and void. The club shall provide the city with a financial statement by June 15, 2005, substantiating that the club has paid for capital improvements and facility expenses equal to or exceeding $1.5 million, as well as the dedicated escrow information, if required."

Arrangement on proceeds
Another provision of the agreement directs to Wahconah Park Inc. all revenues from ticket sales, advertising, broadcast rights and concessions. Only the proceeds from tickets sold for events organized and run by the partnership will go to the partnership, the license states.

Beginning May 15, 2005, the city grants to Wahconah Park Inc. an exclusive license to use the concession facilities at the park for 12 months per year during the term of the license but ending when the license expires.

"The club shall provide a concession manager, to be paid from concession proceeds, and concession equipment for all activities in the park during the concession term for the benefit of the city and the various organizations conducting activities in the park," the document reads. " The club is not entitled to any concession revenue from high school sports or other youth athletic events."

The partners do not intend to take any management fees or salaries from the operation until at least 2006, Elitzer told the commission last night.

Wahconah Park Inc. aims to raise some $3 million from investors, he said. The federal regulations that govern the type of public "offering" that the partnership intends to make limit the total amount raised to $5 million from 500 or fewer investors, said Elitzer.

Investors from Pittsfield will be sought initially, he said. If enough money still has not been raised, "then we expand to Berkshire County and then to Massa-chusetts." It is unlikely that the search for investors will extend "to places like New York City," he joked.

Earlier in the meeting, as he urged the commission to endorse the license agreement, Mayor James M. Ruberto characterized the negotiations that produced it as having been "candid and straightforward."

It was Ruberto's "vision and enthusiasm that got us fired up," Bouton said last night. He also praised the efforts of City Solicitor Christopher Speranzo and Pittsfield resident David Potts in bringing the parties together and in drafting the agreement.

Parks Commission Chairman Michael Filpi noted that the partnership's proposed investment brings to more than $2 million the amount invested in the city's parks, "something that probably isn't going to happen again."

This spring, renovations and repairs are scheduled to begin on other city parks. The work will be funded by a $1 million donation made by Pittsfield native Lawrence A. Bossidy.