The partners seeking to relocate the Single-A Hagerstown Suns (South Atlantic League) to Fredericksburg (VA) dramatically changed their proposal last week, leading to unanimous approval by the City Council of a revised incentive package and new life for the project. The plan gives the partners one year to obtain financing for the now-$46 million project. Read more here.
Category Archives: Money & Financials
New Hartford (CT) projections of expenses and revenues for the proposed minor league ballpark for the Double-A New Britain Rock Cats (Eastern League), including money raised through property taxes, parking income and a tax on tickets, show that taxpayers would gain $22.8 million over 30 years. Read more here.
It not-so-shocking news, the indy pro Rio Grande Valley WhiteWings (United League) reportedly owe a t-shirt company money, and the frustrated vendor has decided the seek the help of KRVG’s “5 On Your Side” to get paid. Read more and watch news report here. Read about the San Angelo Colts’ recent bankruptcy here. Read about the Bryant and Pierce show here.
According to an analysis in the Hartford Courant, the public-private partnership between the city of Hartford (CT) and developer DoNo Hartford LLC for downtown redevelopment that includes a new ballpark for the Double-A New Britain Rock Cats (Eastern League) is likely to cost city taxpayers hundreds of thousands of dollars more every year than the maligned plan to issue city bonds. Read more here.
The Palm Beach County (FL) Tourist Development Council on Thursday voted 6-3 to endorse a 30-year tax revenue commitment of $90 million for a spring training facility for the Houston Astros and Washington Nationals, but officials will take more time to consider the teams’ request for a 3.5 percent annual escalator that would add $64.9 million over the life of the commitment. Read more here. Watch video here.
With the indy pro Newark Bears (Can-Am League) now just a memory, the city of Newark and Essex County, both on the hook for more than $2 million in annual debt obligations on Riverfront Stadium until 2029, continue to scramble to find a new tenant. Meanwhile, former Bears owner Doug Spiel says he plans to join three friends in launching a four-team fall league for rookie-level players in Arizona next September. Read more here.