By Denise Jewell Gee
The Erie County Legislature will begin its review of a proposed lease agreement with the Buffalo Bills for Ralph Wilson Stadium next week.
Legislators plan to invite representatives from the administration of County Executive Mark C. Poloncarz and Buffalo Bills executives to an Economic Development Committee meeting on Tuesday, Jan. 15, to explain the proposal and answer questions from legislators about its terms.
Legislature Chairwoman Betty Jean Grant, D-Buffalo, said the proposed memorandum of understanding could come up for a vote later this month unless questions arise that stall its approval.
Poloncarz, along with Gov. Andrew Cuomo and Bills executives, announced Dec. 21 that they had reached a 10-year deal that would invest $130 million in stadium upgrades. The terms call for a $400 million penalty if the team leaves Buffalo before 2023, with a one-time option to leave in the seventh year by repaying only $29 million.
The proposed deal would also extend other terms of the existing lease –- including an annual "working capital" subsidy for the Bills and other annual upgrades to the stadium funded by the county and the state. It would also require the Bills to pay annual rent.
Here's a look at the terms of the lease and what the renovations will entail.
The Legislature's Economic Development Committee will meet at noon Tuesday, Jan. 15, at Old County Hall, 92 Franklin St.
