Cedar Rapids City Council Guarantees $1.4 Million Loan to the Kernals

CEDAR RAPIDS, Iowa - The city of Cedar Rapids is helping the Cedar Rapids Kernals stay afloat.

The city council has voted to guarantee a $1.4 million loan to the Kernels from Bank Iowa.

The council also amended the lease agreement the team has at Veterans Memorial Stadium, and lease payments will resume when the loan is paid off.

The minor league baseball team is financially strapped after its 2020 season was cut short, and had asked for lease payments to be deferred.

The Cedar Rapids Baseball Club, Inc., which operates the Kernals, leases the Veteran's Memorial Stadium from the City.

(Image from Cedar Rapids Tourism)

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