Professional baseball may be in a short-term crisis because of the COVID-19 pandemic shutting down play, but a longer-term problem is looming for ballpark projects dependent on public bonding or related development. (more…)
Tag Archives | tif
New GreenJackets ballpark project hit with lawsuit
A ballpark opponent has filed suit against North Augusta’s Project Jackson development, saying tax-increment financing (TIF) has been inappropriately implemented in the funding plan. Project Jackson is a $144-million development in North Augusta that includes retail, hotel, convention center and a new ballpark for the Augusta GreenJackets (Low Class A; Sally League). The ballpark itself […]
GreenJackets ballpark project moves forward
Tax-increment financing for Project Jackson, which contains a new Augusta GreenJackets (Low Class A; Sally League) ballpark, received approval from the local school district last night. The approval came with a few strings, however. Most prominent: none of the TIF proceeds generated by school-district participation can go toward financing the new ballpark. Instead, funds must […]
Morgantown ballpark bill dies in leg; hopes of revival this week
A bill authorizing a TIF district to fund a new ballpark for West Virginia University and a NY-Penn League team died when the West Virginia Legislature adjourned Saturday night, but proponents hope to bring it to a vote in an upcoming special session. The bill died not because there was a large number of legislators […]
Chiefs face financial problems on ballpark debt
The Peoria Chiefs (Low Class A; Midwest League) are reportedly seeking public assistance on debt remaining on Peoria Chiefs Stadium, as the team faces financial issues on the outstanding bank loan and property-tax fronts. There is $4.2 million of debt remaining on the ballpark, and the team has faced some financial issues in the last […]
TIF district approved for Morgantown ballpark
The Monongalia County Commission gave final approval to a tax-increment-financing (TIF) district in Morgantown that would help fund a new ballpark for the West Virginia University baseball team and potentially a NY-Penn League team. The county has been discussing a TIF for several months in association with a developer and the university. The TIF would […]
More development emerging near Fort Wayne ballpark
The next time someone claims ballparks can’t spur economic development, send them to Fort Wayne, where yet another round of development near Parkview Field is in the works. Anyone who spent time in downtown Fort Wayne knows what a wasteland the ballpark area was before the ownership of the Fort Wayne TinCaps (Low Class A; […]
Monongalia County approves WVU ballpark
Monongalia County approved a tax-increment financing (TIF) district for Morgantown, paving the way for a new West Virginia University ballpark that could also house a short-season team. The district applies to University Town Center, a development from Mon-View LLC. A new $20-million ballpark for the Mountaineers would be in the mix, with most of the […]
Tampa: We could have $100M for new Rays ballpark
Money currently generated by a downtown Tampa TIF district to pay down convention-center bonds could be used in 2015 and beyond for a new Tampa Bay Rays ballpark, according to city officials. The tax-increment financing district currently generates some $13.5 million a year, and the Tampa Convention Center bons are slated to be paid off […]