A forthcoming study could add to the discussions for a new Pawtucket Red Sox (Class AAA; International League) ballpark, as it will assess its financial impact.
The PawSox are continuing their search for a new facility, and two locations in Pawtucket have emerged as candidates for the ballpark’s site. One is the location of an Apex department store, while the other parcel is the Tidewater site, which is located along Taft Street. Preliminary ballpark concepts for both locations have been released, but no final decisions have been made as to what the PawSox and local leaders will select.
A soon-to-be-released study will address some questions. After being hired by the city and the team, the firm Brailsford & Dunlavey is conducting the study that will weigh the financial implications of both sites, along with the location of the team’s current home, McCoy Stadium. The study comes as the PawSox continue their discussions with city and state officials on how a ballpark agreement could take shape. More from The Providence Journal:
Now, the firm will analyze potential revenue and benefits from any new stadium, including how much sales, income and property taxes it might generate, [Pawtucket Director of Administration Tony] Pires said. The two potential new sites are the Apex department store location and the Tidewater location along Taft Street.
Pires hopes the $25,000 study will be completed by the end of next week.
In interviews Tuesday, Pires, Rhode Island Commerce Secretary Stefan Pryor and PawSox Chairman Larry Lucchino said they don’t know how much a new stadium might cost each entity. But they indicated any financial package would go before the General Assembly.
They declined to say what financing methods are under consideration.
However, Pryor said it’s unlikely the team would use the incentives created by Gov. Gina Raimondo’s administration — which include Rebuild Rhode Island and Qualified Jobs tax credits, statewide tax-increment financing districts and the First Wave Closing Fund.
The team is currently concentrating its search for a new ballpark in Pawtucket. McCoy Stadium originally opened in 1942, and received its last major renovation in 1999.
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