Important step in the process of building a new Biloxi ballpark: the Biloxi City Council voted 5-2 to issue $21 million in bonds for the new home of the relocating Huntsville Stars (Class AA; Southern League).
The vote was not really in doubt, as the same councilmembers who voted to greenlight the project months ago were the same ones who voted to issue the bonds, and the city has already held a groundbreaking on the project. There was a delay between the initial approval and the bond vote, but only becaus Biloxi officials withheld permission until Ken Young completed a purchase of the Stars for a reported $15 million; former owner Miles Prentice and other Stars owners will keep a minority share of the club.
The new ballpark is expected to open for the 2015 season. The $36-million financing plan for the 6,000-seat ballpark is pretty simple: the city will use $15 million from a state grant stemming from BP monies, and the remaining $21 million will be bonded by Biloxi, paid back by a $2 ticket surcharge. The budget also calls for a 350-space parking garage, which will be leased back to the Beau Rivage Resort and Casino.
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