http://www.dallasnews.com/news/commu...rough-2020.ece
Published: 11 May 2012 04:14 PM
The historic rivalry between the universities of Texas and Oklahoma will remain at Fair Park through 2020, with the signed contracts from both schools arriving at City Hall this afternoon. City Hall held up its end of the bargain with a council vote April 11 authorizing the city to prepare to issue $25.5 million in debt to renovate the stadium.
“They wanted to stay in the Cotton Bowl and continue this longstanding tradition,” said Pete Schenkel, who led negotiations for the State Fair of Texas. The school’s contract with the State Fair, which controls Fair Park during its annual run. Schenkel said the school’s did not seek additional funds to remain at the Cotton Bowl. Each school receives $500,000 for playing in Dallas. The city intends to add historically appropriate facades to the end zones, rebuild the press box, add new club seating below the press box, upgrades concourses and improve concessions areas.
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That extends the existing agreement by 5 years. In November 2006, the city of Dallas and the State Fair of Texas finally agreed on funding for a long-planned Cotton Bowl renovation. Thus, in April 2007, the schools signed a contract to play at the Cotton Bowl through 2015, coupled with a $57 million fund for upgrades and improvements to the aging stadium. The 2008 renovations include the expansion of the seating capacity of the stadium to 96,009, mostly through the complete encircling of the second deck, new media and VIP facilities, a new scoreboard and video screen, updated restrooms and concession areas, lighting, utility and sound upgrades and the replacement of all the stadium's seats.
Here's the city of Dallas committing to spend $82 Million over a period of 5 years to keep one college football game per year in the Cotton Bowl, while CapMetro almost goes bankrupt over a $120 Million train. Definitely a tale of two cities......