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Wonder if they can get a deferral on the first $1 million payment due to the pandemic. I’m sure the Lerners will be willing to help the city out under the circumstances.
Fredericksburg officials signed a 30-year lease with the team at an annual rent of $1.05 million. But the first installment isn’t due until the quarter after the facility in Celebrate Virginia South receives its “commencement date”—defined in the agreement as the time when it has both received its temporary certificate of occupancy and is “actually available for city events.” That may not come until 2021.
