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Fredericksburg ballpark financing plan passes Virginia House

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Hagerstown Suns

The Virginia House of Delegates passed a bill allowing Fredericksburg to recapture sales tax to help pay for a new Hagerstown Suns (Low Class A; Sally League) ballpark.

The Virginia Senate already passed the bill, and Gov. Terry McAuliffe is expected to sign it. From Frederickburg.com:

The “clawback” allows the locality to get 3.5 percentage points of the state sales tax revenues collected at the publicly owned stadium.

The financing plan for the 5,000-seat minor league stadium planned at Celebrate Virginia South for the Hagerstown Suns, as well as the adjacent fields that will be used for Diamond Nation softball and baseball tournaments, calls for the private sector to cover most of the development costs and be supported by tax incentives and fee waivers.

The city of Fredericksburg has agreed to develop the parking lot for the complex, but that cost is expected to be about $8 million compared with a private sector contribution that has been estimated at $29 million.

The new ballpark is expected to be ready for the 2015 season.

RELATED STORIES: Fredericksburg ballpark groundbreaking set for March; Quinn: Let's bring short-season ball to Hagerstown; Fredericksburg ballpark deal moves forward -- slightly; Local investor boosts Fredericksburg ballpark plan; Fredericksburg: We have deal to bring in Hagerstown Suns; Hagerstown: Yes, we really do want a downtown ballpark; Private financing pitched for new Suns ballpark; Fredericksburg, Suns to meet Tuesday to discuss new ballpark deal; Fredericksburg: We have five weeks to negotiate Suns lease; Fredericksburg: We need better deal from Suns; Fredericksburg City Council to debate new Sally League ballpark; Fredericksburg officials, Quinn discuss new ballpark; Hagerstown, Fredericksburg preparing dueling ballpark plans; Fredericksburg ballpark could end up turning profit for city: study; Fredericksburg ballpark funding plan emerging; Fredericksburg touted as ideal for professional baseball; Hagerstown owner: We'd meet with Fredericksburg about new ballpark; Fredericksburg to study financial impact of new ballpark; Fredericksburg, Opening Day Partners talking new ballpark; Suns: We'll put up cash for new ballpark if donation falls through; Will new members of Hagerstown City Council kill new-balpark plan?; See for yourself: fans get peek at problems with Municipal StadiumAnonymous donor pledges $15M for new Hagerstown ballpark; Hagerstown: Construction of new ballpark could begin next springWinchester: We're not optimistic about landing SunsHagerstown takes first step toward ballpark fundingHagerstown mayor: We're close to long-term lease with Suns; Hagerstown: Let's begin designing new downtown ballpark

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