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Key facts for Fredericksburg’s baseball public hearing on Tuesday
Fredericksburg City Council will hold a hearing Tuesday night to get input from the public about a proposal for the city to build a $29.5 million stadium that would be home to Minor League Baseball’s Hagerstown Suns.
Below are key facts to know regarding the hearing and the stadium proposal.
The Public Hearing:
Five public hearings are scheduled with baseball coming up last.
The public hearings begin at 7 p.m. in City Hall, Council Chambers, 715 Princess Anne St. There is no way to predict what time the baseball issue will start.
Each speaker has up to five minutes to air his or her views. People are not required to sign up in advance to speak.
The Stadium issue:
Key facts regarding a preliminary proposal for Minor League Baseball and a multipurpose stadium.
WHO: The Hagerstown Suns, a Class A affiliate of the Washington Nationals.
WHAT’S NEEDED: The Suns want a 5,000-seat multipurpose stadium that would have a construction cost cap of $29.5 million.
WHERE: Two sites along Interstate 95 in Celebrate Virginia South are being discussed: 38 acres where the U.S. National Slavery Museum was to have been built and a 22-acre site off Gordon W. Shelton Boulevard where the road dead-ends.
STADIUM USES: The facility proposed by the Suns would host concerts, festivals, car shows and, potentially, professional soccer and lacrosse, in addition to Minor League Baseball. The proposal includes a restaurant that would be open year-round, an arcade, swimming pool and dog park.
Hagerstown Suns: would provide $3 million for the city to purchase land for the stadium.
City of Fredericksburg: would finance construction of the stadium over 30 years likely through general obligation bonds totaling as much as $33 million.
REPAYING THE DEBT
Hagerstown Suns would: Lease the stadium for 30 years, paying the city $105,000 annually.
Split the stadium naming rights revenue 50-50 with the city.
Annually contribute 15 percent of the team’s net profits above $700,000.
City of Fredericksburg would: owe an estimated $2 million to $2.5 million annually to pay off the debt.
Properties in Celebrate Virginia South and Central Park would: would become part of a special tax district and pay as much as 32 cents per $100 of assessed value in addition to their city real estate taxes until the debt is paid.