Warwick Watch
  • Home
  • Animal Cruelty
  • Warwick Community
    • Videos
  • Contact
http://www.warwickwatchri.com/

Next Pawtucket Red Sox Public Hearing- Wed. Oct. 11 6PM-@ New England Institute of Technology, Media Presentation Theatre- 1 New England Tech Blvd. E.G.

10/8/2017

 
 Here are some financial breakdowns from the "Economic & Fiscal Benefits Analysis Of a New Downtown Pawtucket Ballpark" report, published 10/3/2017 by B & D Venues: 
  • The budget for a new 9,500-capacity ballpark is $76 million.
  • $18.3 million (24%) of activity and wages are sourced within the state – Subsequent to B&D’s analysis, the budget was adjusted to $73 million.
  • Over 30-years, the ballpark is projected to generate $55.3 million in tax revenues to the State and $3.4 million to the City of Pawtucket. 

Additional "Ancillary Development"
  • The potential program for the Apex site includes a hotel, apartments, and retail space – $110.3 million budget, (excluding the ballpark).
  • The Division Street program includes offices, condos, and retail and has a budget of $37.3 million
  • Collectively, the Apex site (excluding the ballpark) and Division Street project budget is estimated at  $147.6 million
  • The potential development program for the Tidewater site includes office and retail – $51.4 million budget, (excluding the ballpark).
​
Summary of overall ballpark investment totals:
  • Ballpark- $73 million
  • Apex + Division St. investment- $147.6 million
  • Tidewater investment- $51.4 million
          Total investment- $272 million 
​

​Potential (tax) Return on Investment:
  • Including the ballpark, the Apex site is estimated to generate approximately $36.5 million to the City and $93.3 million to State over 30 years.
​           Total potential (tax revenue)return on investment: 
            -$129.8  million



On the Senate Finance Committee Decision Table: 
  • $71 million in bond financing ($23 mil state/$15 mil city/$33 mil PawSox) to construct the new ballpark ( B & D 10/3 report has  ballpark construction costs at $73 million). 
  • PawSox have stated that they would make a $12 million upfront payment and also cover any construction cost overruns. 
  • Over 30 years, the total (tax) return on just the new ballpark= $58.7 million. 
​
Picture

Picture
Picture

Comments are closed.
    DMCA.com Protection Status

    Subscribe to Newsletter

    RSS Feed

    Email: WarwickWatch@yahoo.com

    Archives

    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    November 2016
    October 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    November 2015
    October 2015
    September 2015
    August 2015

  • Home
  • Animal Cruelty
  • Warwick Community
    • Videos
  • Contact