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Overview

Wrigleyville Rooftops Association

The Rooftops Advertising Plan - A Win-Win Solution

In 2004, the City of Chicago adopted the Wrigley Field Landmark Ordinance which referenced the importance of preserving the unenclosed, open-air character and uninterrupted sweep of bleachers. The passage of the landmark ordinance coincided with a 20-year settlement contract between the Chicago Cubs and the Wrigleyville Rooftops which included the approval of the Wrigley Field bleacher expansion with the Rooftops dedicating 17% of their revenue to the Cubs. The City also imposed more stringent building code requirements which resulted in a significant financial investment totaling $50 million made by the Rooftops in accordance with the terms of the 20-year contract. Relaxing the Landmark Ordinance to allow for obtrusive advertising, a jumbotron and other visual impairments violates the terms of the 2004 settlement contract agreement. A change, or relaxation of the landmark protections, would allow the Chicago Cubs to circumvent its contractual obligation with the Rooftops resulting in tens of millions of dollars in lost tax revenue, the elimination of 250 jobs annually and would destroy the fabric of the Wrigley Field experience.

Our Win-Win Solution

The Rooftops propose the installation of digital and static signs on Rooftops. Rooftops will offer signs on a triple net basis on master or individual license agreement to the Cubs or third party advertisers. The license agreements will provide for a tenant improvement allowance to the advertiser from their license fees in return for their advancing capital costs to install the signs. In effect, the advertisers will advance and recover the capital cost of the installation from their future license payments. *An expert analysis by the Platt Retail Institute, LLC (PRI) projects an annual revenue stream generating between $10-20 million by installing signs on the rooftops.

Destroying one business for another is not the answer

Breakdown and Benefits of Rooftop Plan
100% of the revenue generated from the advertising plan will go to the City of Chicago and the Chicago Cubs to handle renovation and community needs such as: o o Providing additional police, traffic, parking enforcement and other services to ameliorate the impact of Cubs game activity on the neighborhood. Wrigley Field renovation and neighborhood infrastructure projects. The City will maintain control over the bulk of the revenue stream which may be appropriated for capital projects that will be subject to strict landmark oversight and City control. Funds may be used for improvements to Wrigley Field itself and/or for adjacent City infrastructure projects such as parks, streets and sidewalks, Chicago Transit Station renovation, and remote parking and transportation development.

No jobs would be lost; city, state and county tax revenue would continue to be generated and Cubs will continue to receive their annual royalties check from the rooftops which exceeded $4 million in 2012.

The Rooftop plan preserves the Rooftops as an integral part of the Wrigley Field experience. The plan is consistent with the objective of funding a Wrigley Field renovation that preserves the historical character of the ball park, while addressing the community and neighborhood needs.