If the Onondaga County Ways and Means Committee passes 2 borrowing resolutions at its October 9th meeting, NBT Bank Stadium could receive a total of $24 million in improvements and upgrades. Upon passage of these resolutions by the full legislature, the New York Mets will agree to extend its lease, which still has seven years remaining, by another 18 years ensuring that the Mets ownership will keep baseball in Syracuse for the next 25 years!
The two spending resolutions would authorize Onondaga County to borrow $8.5 million for improvements to the ballpark, and $3.6 million for upgrades. New York State has committed another $12 million for improvements which will bring the total to $24 million for investments to the stadium.
The money will be repaid by a new naming rights package when NBT Bank’s commitment ends in seven years. NBT Bank has first refusal when it comes to negotiating a new deal. This is an important step in keeping minor league baseball in Syracuse. Let’s hope something can be worked out to make sure this happens!