On Tuesday, North Port city commissioners signed off on a term sheet that outlines the framework for a new Atlanta Braves spring training complex.
The term sheet has been making its rounds, as it was approved by the Sarasota County Commission last week. While there is more work to be completed before any agreement is finalized, the term sheet outlines details on the ballpark and what is expected of the parties involved in the proposal.
Costing an estimated $75.4 million, the complex would include a ballpark with 6,500 fixed seats, plus berm seating room for 1,500 spectators. The remainder of the complex would feature six practice fields, two half fields, and a 55,000-square-foot administrative area.
Under the current terms, the complex would be funded as part of a private/public partnership, with North Port contributing $30 million over nine years. The remainder of the funding breakdown includes contributions from Sarasota County ($21.3 million in bonds backed by tourism taxes), the state’s spring-training facilities fund ($13.1 million), the local developer ($9 million over 30 years), and the Braves (up to $2.5 million a year, depending on the level of debt service).
North Port officials signed off on the term sheet in a 4-0 vote. More from The Atlanta-Journal Constitution:
In a statement posted on its official social media accounts Tuesday night, North Port said the city commissioners will be “looking for additional details” about a number of items in the subsequent agreements.
Those items include using North Port’s name in advertising for the facility, protecting the city from liability, giving preference to local contractors in construction and allowing more public use of parts of the facility.
“Additional details will be brought back in subsequent agreements, but the City commits to its part to bring Spring Training to North Port,” the statement said.
If the complex receives final approval, it could open for the Braves in the spring of 2019.
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