Trash Pandas, City of Madison finalize payment plan
HUNTSVILLE, Ala. (WAFF) -An agreement has been made between The Rocket City Trash Pandas and the City of Madison in identifying how much money the team owes the city in line with its lease agreement. The audit wrapped up last week, but details were not released until the Madison City Council meeting.
“No other sales taxes are due for 2020 and sales taxes are up to date for 2021,” says Mayor of Madison City, Paul Finley.
As of May 24, BallCorps has paid the city $177,153. Mayor Finley says an agreement was made to pay the remaining $445,177.52 due for venue revenue in four payments.
“June, July, and August of $100,000 each, and September 1st of $145,000 to complete that balance. I can tell you that I have that $100,000 check for June ready to give on the separate approval if you will approve this,” says Finley
Under the original agreement, the team is obligated to pay the city at least one million dollars each year. However, over $350,000 has been waived for 2020 due to canceling the baseball season.
Ballcorps also received an equipment payment extension, until December 31st, of over #450,000 with a 3.25 percent interest. And, the city has agreed to pay 25% of utilities.
“The city is responsible for 25% of utilities. Our cost for that 25% is $52,307.06,” says Finley.
The Trash Pandas are on track for payments to the city for 2021. They will be caught up after the fourth payment on September 1. The city says Ballcorps has been easy to work with throughout the negotiation.
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