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Council hears schedule and financing outline for proposed downtown minor-league ballpark; staff says bonds contingent on development milestones
Summary
Staff briefed council on a proposed downtown minor-league ballpark (target opening 2028), a financing plan that pairs team equity with tax-increment/assessment-backed bonds and guarantees for phases 1–2 of mixed-use development; council sought more detail on relocation funds, guarantees and community benefits.
City staff provided a detailed update Wednesday on a proposed downtown minor-league baseball stadium and associated mixed-use development, emphasizing conditions that must be met before the city would approve bond financing.
Ben said the ballpark concept calls for roughly 4,500 fixed seats (about 7,500 total capacity) with an initial estimated cost of $160,000,000 funded by a combination of team equity, bond proceeds backed by incremental taxable value in the Houston Street TIRZ and a municipal management district assessment. "The ballpark would open April 2028," Ben said, while noting that the schedule depends on design, guaranteed phases and bond-market conditions.
The financing…
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