This blog includes news about City Hall, city schools and other 22401 news.Pamela Gould reports on City Hall. You can reach her at 540-735-1972 or firstname.lastname@example.org. Robyn Sidersky reports on city schools. You can reach her at 540-374-5413 or email@example.com.
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Baseball project will be discussed in closed-door meeting on Tuesday
The city and the baseball partners have been negotiating a revised deal to bring the project to the city since the council’s last meeting on Aug. 26.
The fruit of those negotiations will be discussed during the closed-door meeting, which is scheduled to take place at the end of the council’s 7:30 p.m. meeting.
No public action on the project is on the agenda for Tuesday’s meeting.
The city thought it had a deal last September when it agreed to a myriad of tax incentives worth about $1.4 million per year plus $8 million in cash for buying land and then building an 1,800-space parking lot to serve the facility.
The partners would then pay to build the facility.
However, construction bids came in about $18 million over what the partners expected. After trying to address that on their own, the partners asked the city to cover that amount of money in exchange for a 3 percent share of gross revenue for the first 10 years and 1.5 percent thereafter.
The partners also wanted to be exempt from real estate taxes for life.
Addressing the $18 million cost overrun has been the subject of negotiations.
I’ll have more information on where this leaves the project soon and in The Free Lance-Star.