A proposed new Potomac Nationals (High A; Carolina League) ballpark is moving forward, as Prince William County has approved a letter of intent.
The vote taken by county supervisors on Wednesday does not finalize an agreement, but provides a framework for the proposal. The non-binding letter of intent for the county, the P-Nats, and JBG Companies calls for a new ballpark to be constructed at Stonebridge at Potomac Town Center.
As part of the terms, the county would take on an estimated $35 million in industrial development authority bonds, while paying $7 million for site work. The county-owned ballpark would be constructed on land that is leased by JBG Companies, with the P-Nats paying back the $450,000 annual rent along with the debt service on the bonds. JBG would be called on to contribute additional funding for site preparation as well as roughly $250,000 to cover road upgrades.
Seeing the proposal move forward is a big step for the P-Nats, but county officials stressed that several areas will need to be addressed before plans for the ballpark are final. More from The Fauquier Times:
Some details still need to be worked out, including what will happen to the stadium at the end of the 30-year payback period.
But the letter of intent is non-binding, which means any of the three parties can back out of the deal if they deem necessary.
Some supervisors said they could only support the letter of intent because of that off-ramp.
[Supervisor Marty] Nohe said he wasn’t ready to fully commit to the plan but said county officials “owe it to the community” to try to keep the P-Nats in Prince William County.
“I think we need to move boldly tonight to get the answers we need to see if we can get this worked out,” he said.
The development would also include a 1,400-space parking deck that would also serve as daytime commuter parking, and could be covered by a state grant.
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