A final vote on a new Biloxi ballpark for a Class AA Southern League team is set for Tuesday morning, following a public hearing on the financing plan.
The $36-million financing plan is pretty simple: the city will use $15 million from a state grant stemming from BP monies, and the remaining $21 million will be bonded by Biloxi, paid back by a $2 ticket surcharge. Naming rights will remain with the city and could be used to pay down the bonds early. The ballpark will be built on Beau Rivage Resort and Casino land leased to the city for $1 a year.
Ken Young, owner of four MiLB franchises (Albuquerque, Norfolk, Bowie, Frederick) will buy an existing Class AA Southern League team and move it to Biloxi for the 2015 season should the ballpark financing plan be approved.
Rendering courtesy of Dale Associates Architects.
RELATED STORIES: Young: New ballpark will spark downtown Biloxi growth; Consultant: Biloxi ballpark site would be a winner; Biloxi: Let's slow down new-ballpark plan; New Biloxi ballpark could slip to 2015; Biloxi petition drive falls short; council to study bond rates; Proposed Biloxi ballpark draws opposition; rally set for today; Biloxi group wants referendum on new ballpark; Bennett, Young, Bryant unveil plans for new Biloxi ballpark; Bennett: We can open Biloxi ballpark in 2014; Biloxi commits to borrowing $21 million for new ballpark; Another run at affiliated ball in Biloxi; Talk about Biloxi ballpark emerges again
Share your news with the baseball community. Send it to us at firstname.lastname@example.org.
Are you a subscriber to the weekly Ballpark Digest newsletter? You can sign up for a free subscription at the Newsletter Signup Page.
|< Prev||Next >|