City Council signs off on $1 billion Texas Rangers stadium deal
ARLINGTON, Texas (AP) - The Arlington City Council has approved a master agreement setting forth the public-private setup to build a retractable-roof ballpark for the Texas Rangers.
The unanimous vote Tuesday night begins the process for placing on the Nov. 8 ballot an extension of the sales, car rental and hotel occupancy tax already levied to build AT&T Stadium, the home of the Dallas Cowboys.
The new ballpark and related infrastructure is estimated to cost about $1 billion, with the city and the Rangers splitting the cost with the city's burden capped at $500 million. If voters approve the extension, the tax revenue would pay off the bonds the city floats to finance its half of the project cost.
The new park, which would be leased to the Rangers for 30 years, is expected to seat at least 38,000 fans.