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Biloxi to issue bonds for new ballpark

Caillavet Park, Biloxi

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.

RELATED STORIES: Biloxi ballpark groundbreaking set for Thursday; New Biloxi ballpark draws interest from developers; It’s official: Huntsville Stars sold, expected to move to Biloxi in 2015; Biloxi sets up ballpark spending, contingent on team purchase; Biloxi approves new-ballpark financing funding; team set to play in 2015; Young: New ballpark will spark downtown Biloxi growth; Consultant: Biloxi ballpark site would be a winner; Biloxi: Let’s slow down new-ballpark plan; New Biloxi ballpark could slip to 2015; Biloxi petition drive falls short; council to study bond rates; Proposed Biloxi ballpark draws opposition; rally set for today; Biloxi group wants referendum on new ballpark; Bennett, Young, Bryant unveil plans for new Biloxi ballpark; Bennett: We can open Biloxi ballpark in 2014; Biloxi commits to borrowing $21 million for new ballpark; Another run at affiliated ball in Biloxi; Talk about Biloxi ballpark emerges again


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