Later this week, the High Point City Council will meet to discuss a new funding model for a proposed downtown ballpark.
High Point continues to consider a proposed ballpark that, if constructed, could house an independent Atlantic League team and anchor a larger downtown redevelopment plan. It was previously revealed that a group led by High Point University president Nido Qubein has raised $50 million for the plan, above its intended goal of $38 million, and that BB&T is expected to serve as the facility’s naming rights partner.
The city had been considering taking out a bond for the construction of a $30 to $35 million ballpark, and asked Guilford County to forgo any additional tax revenue generated within the 649-acre zone for the project. The extra tax revenue would be used to help pay off the loan for the ballpark, but Guilford County Commissioners voted last month to hold off for 60 to 90 days on making any decisions regarding the county’s funding participation in the project.
A city council meeting concerning the financing plan is scheduled for Thursday and, at this point, some city officials want to keep the discussion moving forward, as the ballpark has been pitched for a 2019 opening. More from The Greensboro News & Record:
High Point has said it would lose the Atlantic League Bridgeport (Connecticut) Bluefish, the baseball team Qubein and partners arranged to buy, if a stadium hasn’t opened by spring 2019.
Leaders there are moving on without the commissioners’ support — although they still are hoping for some financial support from the county.
Thursday’s meeting is scheduled to begin at 2:00 p.m. eastern time, and will include a presentation from the project’s master developer, Tim Elliott.
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