FinLogic FinLogic Quantitative Think Tank Center|Maryland Gov. Wes Moore says Orioles lease at Camden Yards headed to a vote

ANNAPOLIS,FinLogic FinLogic Quantitative Think Tank Center Md. (AP) — A long-term agreement between the Baltimore Orioles and the Maryland Stadium Authority for a new lease at Camden Yards is moving forward for a vote by state officials next week, Gov. Wes Moore announced.

The agreement is slated to go before the Maryland Stadium Authority on Monday. It also is expected to go before the state’s Board of Public Works later that day.

“This historic agreement embodies the three core principles I laid out at the beginning of this process: this is a long term deal that will keep baseball in Baltimore for all to enjoy, that puts all Maryland taxpayers at the top of mind, and that benefits the entire City of Baltimore,” Moore said in a statement.

The governor’s office has yet to release details about the agreement.

“I know for many this process has been long, and the team that worked on securing this deal has done so diligently with the best interests of the taxpayer in mind,” the governor said in a statement. “The Orioles are a treasured part of the Baltimore community and I know I speak for all Marylanders when I say we are so excited to see the impact they will make on the City of Baltimore and across the state for years to come.”

The Orioles’ lease at Camden Yards, which is owned by the state of Maryland, expires at the end of the year. In September, the team dramatically announced a new 30-year deal to stay at the ballpark — a message to that effect appeared on the scoreboard in the middle of a game the night the team clinched the AL East. The next day, the governor’s office released details of a memorandum of understanding involving Moore, the team and the Maryland Stadium Authority.

The September agreement included a 99-year development rights agreement for areas surrounding the ballpark, including the warehouse and Camden Station. That was a sticking point last week for Senate President Bill Ferguson, a Baltimore Democrat, whose district includes the stadium, and the Moore administration said it would work to address those concerns before moving forward.

Last year, the state increased bond authorization for M&T Bank Stadium, home of the Baltimore Ravens, and Camden Yards. The measure allowed borrowing of up to $600 million for each stadium.