The Biloxi City Council took a step back from funding a new Class AA Southern League ballpark and decided to analyze whether the investment makes economic sense.
The Council had previously agreed to spend $21 million on the new $35-million ballpark for a relocated Southern League team, to be owned by veteran MiLB operator Ken Young. The deal was rushed to allow movement for a 2014 opening, but various factors have pushed the opening back to 2015. With the delay, the City Council decided to analyze the investment. From the Biloxi SunHerald:
They capped the cost of the study at $25,000 and want to know if the stadium is likely to spur development in the downtown and along Caillavet Street.
“I know how people feel about studies, but I want a credible analysis of what we can expect to see for our $21 million investment,” said Councilman Paul Tisdale. “One of the focuses of the negotiations has been determining whether we can pay the annual note of $1.5 to $1.6 million on the construction cost. The analysis would tell us what additional economic development we can expect and what additional revenue would be generated from those who attend baseball games and other events at the stadium.”
The resolution directs the administration to hire a firm to do the study.
The vote for the analysis was unanimous.
Rendering courtesy of Dale Associates Architects.
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