- Get link
- X
- Other Apps
Last time this was posted was May 28, 2021
- Update Pro Forma
- Auditor's Report on the updated Pro Forma when completed
- Finalized Executed Land Disposition Agreement on Left Field Building
- First ground breaking on any of the proposed Madison Development buildings
- Final cost numbers for Polar Park
Number 4:
We had our first ground breaking ceremony for a property for one of Madison Development building, but have yet to see any real "ground breaking". Remember Phase I consisting of 9- + million of private development was suppose to be completed by April of 2021.
Number 1-2-3-5:
The rest remain missing.
Comments
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.
They would be fired and likely sued and prosecuted because of suspipicionnthwtnthwre had to be illegal kickbacks to fail so miserably.
In Worcester? Not so much. Cheerleading g and tax increases on already heavily taxed businesses and residents who aren’t in the “override club” so they don’t get giant TIFs
You really can’t make up such a bungled municipal situation. It’s surreal how badly thought out all of this is.