League Park Operations, Management, and Revitalization

Description

The City is requesting proposals from qualified organizations or individuals for the management, operations, programming, marketing, and maintenance of League Park (“Property”) located at 6601 Lexington Avenue, Cleveland, Ohio 44103. League Park is currently a sports complex and community park owned and operated by the City. The goal and objective is to prioritize residents and users from the Cleveland Metropolitan School District; increase usage and activation; activate the concession stand; make the facility more accessible; invest revenue into operations and capital improvement; employ residents; and limit financial investment from the City.If this RFP is awarded, operations of the Property shall be pursuant to a Qualified Management Agreement (as described in IRS Revenue Procedure 2017-13) to be negotiated with the City and subject to separate authorization from Cleveland City Council.Qualified Management AgreementAny agreement for the operation, management, and revitalization of League Park resulting from this RFP shall be a qualified management agreement, as fully described in IRS Revenue Procedure 2017-13.[1] Such an agreement will preserve the tax-exempt status of the City’s outstanding tax-exempt bonds used to finance improvements at League Park, and will preserve the ability of the Contractor (through the City) to finance future improvements at League Park with tax-exempt bonds. In addition, it is the City’s intent to preserve League Park’s exemption from local real property taxation by maintaining the facility as public property used exclusively for a public purpose.[2] [1] https://www.irs.gov/tax-exempt-bonds/private-busine