Proponents of a new ballpark for the Augusta GreenJackets (Low Class A; Sally League) unveiled a new financing plan calling again for a new TIF district with a lesser impact on the local school district.
In March Aiken County shot down a proposed TIF district extension for Project Jackson, a mixed-use development, with commissioners saying they were concerned with the impact on the local school district.
So North Augusta came back with a TIF plan that addressed these concerns, giving the school the chance to opt out of the district after 15 years. (Tax-increment financing uses hikes in property taxes generated to development to help finance the development.). This lessens the impact on the district. In addition, the owners of the GreenJackets are offering $2 million toward the ballpark cost, and a local hospitality tax is now part of the funding mix as well. From the Augusta Chronicle:
Glover said they can count on economic development and tax revenue to come with the new project, because the developers are already on board.
“This is now a “build it and they will come,” model,” he said. “We have the developers lined up and ready to go.”
North Augusta Mayor Lark Jones emphasized that Project Jackson was regional development that would benefit more than his city.
RELATED STORIES: Despite county action, North Augusta ballpark project very much alive; GreenJackets proposal shot down by county; North Augusta gives preliminary support for new GreenJackets home; Augusta ballpark plan unveiled; Eiseman, Schoen to buy GreenJackets; Opposition already rising against North Augusta ballpark; North Augusta ballpark project to be unveiled this week; Ripken Baseball selling Augusta GreenJackets: owners; Downtown Augusta ballpark back up for discussion; Ripken Baseball: Damage control in Augusta; Challenge in Augusta: Paying for new ballpark; Eiseman: We’re not tied to Augusta riverfront location; Augusta approves negotiations for new GreenJackets ballpark; Augusta ballpark back in play?
Share your news with the baseball community. Send it to us at email@example.com.
Are you a subscriber to the weekly Ballpark Digest newsletter? You can sign up for a free subscription at the Newsletter Signup Page.