Potential Re-Use of Memorial Stadium to be Studied

The City of Fort Wayne, Allen County and IPFW have reached an agreement on a memorandum of understanding to examine the potential re-use of Memorial Stadium.

Last month, the City of Fort Wayne announced plans for a proposed mixed-use downtown development, “Harrison Square,” that would include a hotel, residential condominiums, street level retail, a baseball stadium, and parking garage. At that time, IPFW officials expressed an interest in the current Memorial Stadium serving as the home for IPFW sporting and community events.

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 and Allen County will work to negotiate a lease interest in the stadium. This would depend on Hardball Capital, the owner of the Fort Wayne Wizards, terminating its lease with 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.