Fiscal 2023 DIF Account

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Revenues This Year From Polar Park (2021)

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 Page 120 of the lease

The WooSox pay an annual rent of $32,171.

What other income do we have from Polar Park/DIF???

 

  1. Parking revenue from library, Library and Union Station
  2. Any other revenue ??? 

 

Maybe a Councilor would ask for this???

$175,000,000 invested and we are getting back $32,171 this year??? 

But we are going to make 100,000,000 over the next 30 years

 


 

Comments

Gary Samela said…
You have to wonder if the City could have made a much better deal to land the Pawsox. I think the State of RI and Pawtucket weren't willing to kick in more than 50% total cost. It's fair to ask if the City could have landed them by picking up 75% of the costs. 75% of the costs would have reduced the City's contribution by almost $43 million. I"m horrified that the rent payments were so low. It makes me rethink my position on the benefit of the park. I know the City hired some consultants, but it was ultimately the decision of the city manager to sign the deal. The city manager was handpicked by Joe Petty. I don't think the city council even interviewed anyone else. Ed's previous job was to supervise three people at some made up job at Holy Cross. Not the best candidate to manage a $1 billion entity with 13,500 employees.
September 13, 2021 at 3:44 PM
Gary Samela said…
Heading down to the Bahamas in Nov. Booked JB out of ORH for almost the same price as Boston. Also, there's only a 1 hour layover at JFK. Parking is also free until the end of the year. Hopefully, people heading to PR or other Carribean Islands will check out ORH first.
September 13, 2021 at 5:31 PM
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