We represented the Memphis Center City Revenue Finance Corporation in a $24 million bond issue to finance the purchase of AutoZone Park, the downtown ballpark where the Triple-A Memphis Redbirds play. As part of the deal, the St. Louis Cardinals MLB franchise acquired the Redbirds franchise to be leased to the ballpark from the City via a long-term agreement.
The Center City Revenue Finance Corporation is a joint commission with the City of Memphis and Shelby County. Its responsibilities include authorizing the acquisitions, ownership, lease, and disposal of properties primarily in the downtown Memphis area. The purpose of this commission is to maintain and increase employment opportunities by promoting commerce, industry, recreation, tourism and trade.