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The city of Springfield officially owns Hammons Field.
The city received approval by the U.S. Bankruptcy Court, District of Kansas and then closed on the purchase yesterday, according to a news release. The deal required going before a judge for approval, as the Hammons Trust and the city have been involved in an ongoing bankruptcy proceeding that involves a development agreement with the city, according to past reporting.
The city is paying $6.5 million for the ballpark and $5.5 million for two nearby parking lots, with $4 million slated for repairs to the park.
The stadium has been home to the Springfield Cardinals, the Minor League Baseball Double-A affiliate of the St. Louis Cardinals, since 2004. The Major League Baseball team has agreed to keep the Springfield Cardinals in the Queen City through 2038 in the deal with the city, according to past reporting.
“We have the Double-A franchise of the most popular Major League team in the Midwest. They add a vibrancy, excitement and level of entertainment as well as foster a great degree of community pride,” Mayor Ken McClure said in the release. “Having a Major League club own its Minor League affiliate is very rare. We plan to be the home to the Springfield Cardinals for generations to come.”
Officials said in the release that a lease arrangement with the Springfield Cardinals would "ensure the stadium is paying for itself."
The lease agreement calls for the Cardinals to pay the city an annual rental fee of $650,000, to increase by 3% annually, according to past reporting. Some $300,000 will be deposited annually into a city-owned operating fund to be used by the team and the other $350,000 to be deposited into a city-owned capital fund that will be used to make repairs and improvements to the park. At the end of the 15-year lease, any remaining funds will belong to the city.
The stadium also is used by the Missouri State University Baseball Bears for home games.
Downtown flower shop Funky Flaura’s Unique Floral Designs LLC opened; Jordan Valley Community Health Center moved in Republic; and The Jackson Grille got its start in Marshfield.