Lease

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One of Elmwood Avenue's popular eateries has closed its doors.

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Negotiations between the Buffalo Bills and the region's governments regarding a new lease for Ralph Wilson Stadium have been secretive.

However, a buyout clause is likely to be a part of any final agreement. The existing lease, which expires in 2013, did include a buyout clause that was worth as much as $30 million. Such a clause in a new contract is expected to reach nearly $100 million. The team is looking to secure improvements to the facility that will cost taxpayers upwards of $200 million.

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The Buffalo Bills and Erie County have agreed to extend their current stadium lease through July 2014.

The one-year extension was announced Wednesday morning by Erie County Executive Mark Poloncarz.

Talks over lease negotiations for the Bills lease at Ralph Wilson Stadium have been stalled.

Poloncarz said the last meeting between the Bills, the County and the State was June 29th. But Poloncarz insists this weekend's game will not be the Bills last home opener in Orchard Park. He says the Bills have agreed to extend their current lease through July 2014. 

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Legislation signed by Governor Andrew Cuomo could open new leasing opportunities at the Knox Farm State Park.

Guidelines in the new bill doubles the leasing terms to 40 years. Friends of Knox Farm State Park believe this will be a greater incentive in their search for bringing business operators to the buildings on the property.

Private investment is needed to make necessary improvements to the structures in the park.

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It is expected that the basic framework of a new lease deal between Erie County and the Buffalo Bills could be structured within the next few weeks.

The operators of the Westwood Country Club have notified the facility's owners that they will be terminating their lease as of December 2013.

Culinary Productions, Incorporated ensures that this is merely a move to renegotiate their lease for a better deal with Mensch Capital Partners LLC, the club's owners.

Culinary Productions reports that activity at the golf course has rebounded and that the a new lease will help maintain progress and provide opportunities for potential future redevelopment.

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Lease negotiations between Erie County and the Buffalo Bills regarding the use of Ralph Wilson Stadium are progressing.

County Executive Mark Poloncarz anticipates that the framework for a deal can be in place by the end of next month. One aspect of the talks is the issue of stadium renovations that will carry a $200 million price tag. The current deal expires in July.

A memorandum of understanding needs to be reached between the parties before an actual lease can be hammered out.
 

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After significant study, the Buffalo Bills are proposing that Ralph Wilson Stadium undergo a major renovation as new lease talks get underway.

The cost of the renovation is anticipated to be in the $200 million range, and much of that funding will be provided by taxpayers. It is a less expensive option than retrofitting the stadium or contracting for a new one. The current fifteen year lease agreement between Erie County and the Bills regarding Ralph Wilson Stadium expires in 2013.