Cumberland County commissioners have approved a funding plan for a new downtown Fayetteville ballpark, completing a significant task for the upcoming venue.
Work is taking place on the construction of a new $33-million downtown Fayetteville ballpark, and the facility is expected to open for the current Buies Creek Astros (High A; Carolina League) in 2019. To cement details on the funding plan for the ballpark, Cumberland County voted unanimously on Monday to approve an agreement with the City of Fayetteville.
Under the terms of that agreement, the county will contribute revenue it receives within a special tax district surrounding the ballpark to help pay off the facility. The contribution will start at 100% for the first five years, before shifting to 75% for the remaining 15 years of the agreement. More from The Fayetteville Observer:
Fayetteville Mayor Mitch Colvin was happy about the commissioners’ decision.
“I’ve been jumping for joy for the last hour,” he said Monday afternoon.
The agreement calls for the county to contribute revenue it gets from a special tax district around the stadium. The county will provide 100 percent of the county’s part of the increased tax revenue to the project for five years and 75 percent for another 15 years, county records show. The agreement runs through 2039.
Colvin said about $60 million in development is expected around the stadium.
Ground on the ballpark was broken last August, and officials have touted the project as a way to help bring new development into downtown Fayetteville. The Astros, who are expected to rebrand before the 2019 season, made their Carolina League debut in 2017, playing the season at Campbell University’s Jim Perry Stadium. The team will play there once again in 2018.
RELATED STORIES: Fayetteville Breaks Ground on New Downtown Ballpark; Subcontractors Pitched on Fayetteville Ballpark; Fayetteville Approves Preliminary Ballpark Design; Design Tweaks Made for Fayetteville Ballpark; Firms Working to Meet Fayetteville Ballpark Budget; Next Round of Fayetteville Ballpark Design Underway; Fayetteville Businesses Anticipate Ballpark Opening; Fayetteville Moves Forward on Ballpark Contracts; Fayetteville Could Borrow From Internal Fund for Ballpark; Fayetteville Releases Ballpark Development Terms; Fayetteville, Developer Continue Negotiations; Fayetteville Moves Forward with Ballpark Contractor Selection; Barton Malow Co. Vying for Fayetteville Ballpark Contract; Fayetteville Reissues Ballpark Construction RFQ; Fayetteville Developers Request More Time; Additional Fayetteville Ballpark Renderings Released; Fayetteville Ballpark Design Continues; Fayetteville, Astros Sign 30-year Ballpark Lease; Fayetteville Lease Could be Finalized in December; Fayetteville, Astros Making Progress on Lease; Fayetteville Selects Ballpark Layout; Fayetteville Releases Ballpark Renderings; Astros, Fayetteville Discuss Temporary Ballparks; Fayetteville Could Begin Ballpark Construction Next Summer; Details Released on Fayetteville Ballpark; County Approves Contribution to Fayetteville Ballpark