The City of
Last month, the City of
Key components of the Memorandum of Understanding:
*Conduct an analysis of the operating cost of Memorial Stadium, including an analysis of any modifications to the stadium that may be required to accommodate IPFW and other alternative community uses.
*Develop a financial plan for the long-term management and maintenance of the stadium.
*IPFW would utilize the stadium for its baseball program and promote the use of the stadium as a community multi-use facility/venue.
*The City agrees to contribute funds toward the cost of the financial analysis.
*Contingent on the successful negotiation of a lease interest in the stadium by IPFW; the City, County and IPFW will agree to develop and contribute to a funding plan to support possible physical modifications to the stadium and support the establishment of an endowment to assist IPFW with long-term maintenance of the stadium.