Fiscal 2023 DIF Account

Time For The Next Cost Overrun

  Remember this from last February, paragraph from  

Last month, it was revealed that the total cost estimate for the project had risen by about $30 million, including a $9.4 million increase in construction costs for Polar Park itself and an additional $20 million for development costs, including property acquisition, site preparation and relocating area businesses. To cover those increases, Worcester officials and WooSox ownership are proceeding with a plan that calls for the team to cover the additional $9.4 million to cover the ballpark, while the city picks up the increase in development costs.

We expect more costs overruns over the next couple of months.   
Now lets remember this from MassLive:

“We’re done. We’ve met our responsibilities,” Augustus said. “...We feel like this additional funding has taken care of our obligations. We’re making our contribution to the ballpark, but anything beyond that, that would be the team’s responsibility.”