City Has Paid Out More
Than Half of Its Ballpark
Construction Contribution
to Date
S
o far, the City of Arlington has paid out more than
half of the voter-approved $500 million public
contribution toward Globe Life Field.
Earlier this year, the City successfully sold $465.4
million in bonds to fully fund the public contribution
to the Texas Rangers’ $1.2 billion climate-controlled
ballpark. Between March 21 and November 6, the City
has made 10 payments totaling $274.3 million to the
Rangers for construction costs. The ballpark opens in
March 2020.
The City’s bonds will be repaid with revenue generated
by three existing venue taxes – a half-cent sales tax, a
2 percent hotel occupancy tax and a 5 percent vehicle
rental tax, along with the $2 million a year in rent for
the ballpark paid by the Texas Rangers beginning in
2020. These venue taxes are also being used to pay
down the City’s remaining debt on AT&T Stadium,
home of the Cowboys.
Arlington’s contribution to the ballpark project is fully
funded at $500 million, as the City received a premium
for the tax-exempt bonds.
Payment certificates toward the ballpark’s public
contribution are posted on the City of Arlington’s
Ballpark Project webpage under the Ballpark
Documents section.
CITY FINANCING
March 2018
April 2018
May 2018
June 2018
July 2018
Aug 2018
September 2018
October 2018
November 2018
Total to date:
12
$13,003,829
$54,727,616
$24,213,666
$26,258,787
$30,812,005
$29,587,748
$31,914,111
$29,665,519
$34,071,620
$274,254,901