Fiscal 2023 DIF Account

Good Comment

 This project depends on private developers delivering on their proposals but construction does not work always work this way. 


The developer must get financing (or tenants as is the case with the office building) design the buildings get a contractor,subcontractors and materials etc. This does not happen over night so I don't believe you will see much in terms of construction any time soon. 


It has been reported that the hotel has been downsized to a 115 room hotel down from the larger dual brand hotel. Also the second of two housing buildings is contingent on how well the first building rentals do. Not much security in the revenues to make the bond payments for the ball park construction which is why you probably have not seen a set of financials on the construction that is 70% over budget. 


Of concern is the fact that the Land Disposition and Development Agreement is not executed yet, as we approach the one year anniversary of when the WRA voted to execute it. Another item to add to the list is the status of the Ballpark Commission (Authority). The City said it needed this organization so badly then crickets. 


The City built the most expensive minor league ballpark in the country, now it's time to deliver on the development needed to pay for it and keep the taxpayers apprised of these activities to see if this "investment" was prudent or just another government boondoggle.


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