It went down exactly as Mayor Steve Benjamin promised: the Columbia (S.C.) City Council voted to move forward with a funding plan for a new ballpark on a 4-3 vote.
The deal with Hardball Capital’s Jason Freier commits the city to borrowing $29 million for the ballpark construction and infrastructure costs. Hardball Capital will pay $6 million toward the $35-million ballpark construction cost. Changes were made in the deal to encourage development in the Bull Street area where the ballpark is to be located, as well as to shift some other costs — utilities, mainly — to Hardball. Hardball Capital will manage the ballpark (technically, the Council was voting on this management contract) and supply a team. Freier owns two teams — the Fort Wayne TinCaps (Low Class A; Midwest League) and the Savannah Sand Gnats (Low Class A; Sally League). Freier could move the Sand Gnats or move another team — say, one in the Carolina League up for sale — to Columbia.
The discussion last night centered around the appropriateness of the city borrowing money to benefit a private firm. From The State:
The binding vote followed a failed attempt by the minority to delay the final contract until a cost/benefit analysis is completed.
That study will still be done. But it’s likely to be weeks to a few months before such an analysis will be completed because a consultant must be selected and must have access to development figures from master Bull Street developer Bob Hughes. City manager Teresa Wilson said Tuesday night the analysis itself is likely to take six weeks.
“This type of venue is worth it for a capital city,” Davis said in explaining his vote. The city gambled that public investment in the Vista would pay off, and it did. “It’s time to move (public investment) elsewhere (in Columbia),” Davis said.
The new ballpark is expected to open in time for the 2016 season.
RELATED STORIES: Columbia mayor: We have votes to fund new ballpark; New Columbia ballpark receives initial city approval; Columbia ballpark proposal up for vote today; Freier: We’re still pursuing new Savannah ballpark; Columbia lease negotiations underway; opposition arises; Columbia moves forward — cautiously — with ballpark planning; Freier: I may acquire new team for Columbia; Tanner: College, pro baseball can co-exist in Columbia; Freier: We could open new Columbia ballpark in 2015; New ballpark feasible for Columbia: study; This year should determine future of Sand Gnats; Columbia to study ballpark sites, feasibility; Sand Gnats exploring Columbia move?; Will pro baseball return to Columbia?; Final days for Cap City Stadium; Shanahan: Blowfish negotiating move to Lexington County; Columbia sells Capital City Stadium site; Looking back at Cap City Stadium; Class A ball returning to Columbia?; Columbia sells Capital City Stadium; Wal-Mart on the way; Future of Columbia baseball in play
Share your news with the baseball community. Send it to us at firstname.lastname@example.org.
Are you a subscriber to the weekly Ballpark Digest newsletter? You can sign up for a free subscription at the Newsletter Signup Page.
Join Ballpark Digest on Facebook and on Twitter!
Follow Ballpark Digest on Google + and add us to your circles!