1. 1 Milwaukee Brewers Stadium Costs Legislative Audit Bureau December 2002

2. 2 Stadium Expenditures through December 2001 u $413.9 million u $91.9 million more than anticipated by MOU u Project costs include: –$301.4 million for stadium construction –$98.5 million for infrastructure improvements –$14.0 million for operations

3. 3 Stadium Post-Construction Costs u District’s costs to operate and maintain the stadium are significant: –$14.2 million spent in 2001 –$11.1 million budgeted in 2002 u District will pay an estimated $93.4 million for these costs during the next 30 years u Ongoing litigation may affect total costs

4. 4 Stadium Total Costs u Total construction and operating costs through 2030 are estimated at $1.0 billion

5. 5 Relationship between the District and the Brewers Baseball Club u Complex financial and operating relationship u Lease agreement amended at least three times since August 1997 u Stadium maintenance and ownership questions remain unresolved

6. 6 Baseball Game Tickets u $27,671 inadequately documented

7. 7 u Determine ownership interests u Ensure stadium is maintained u Develop a policy on the 24-seat skybox u Improve financial oversight of administrative expenses u Manage issues related to ongoing litigation Future Considerations

8. 8 Milwaukee Brewers Stadium Costs Legislative Audit Bureau December 2002