Fiscal 2023 DIF Account

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Worcester Business Journal Has Done Good Job Reporting on Polar Park

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 For the Commenters that say things like:   

 "we live in Worcester so we deserve only empty parking lots and warehouses"

 

Neither this blog nor the WBJ want Polar Park to fail, nor want just empty parking lots and warehouses.   In fact just the opposite!  We want it to thrive and return a 100 million to the taxpayers over the next 30 years.

Asking questions does mean, however, you want a project to fail or against it.    WBJ is the only media outlet asking questions and doing a good job reporting on the finances of this project.


Two things would go a long way answering questions/concerns:

  1. updated proforma showing final cost of stadium/bond payments and new projected revenues based on many project changes
  2. current income and expense statement on the Polar Park DIF

 

Us taxpayers do deserve that.     




Comments

Common Sense said…
What if the City had offered half the difference between what RI was willing to offer and the $175 million? I think the City would have saved around $60 million. The team had a had a couple of other towns in MA interested, but I don"t think they were serious proposals. Just throwing this out there.
January 27, 2022 at 8:56 AM
Anonymous said…
I can't recall where I saw it but a blast from the past weighed in on the Worcester Business Journal article. I was trying to find the comment again but I can't seem to find it but one of my two all time favorite T&G reporters, Dianne Williamson (my other one was Nick Kotsopolous), spanked someone on their blog. In summary she stated just because the Worcester Business Journals facts contradicted the bloggers opinion they should not malign the Worcester Business Journal. Do I miss Diane and Nick. If nothing else this debate would have some humor (with Diane) and facts and perspective (with Nick).
January 27, 2022 at 1:13 PM
Common Sense said…
Just read on MassLive that the Main South CDC got a $1 million grant to build a new commercial building on two vacant lots on Main Street. Could have done this throughout the City with the $175 million from the ballpark.
January 27, 2022 at 2:58 PM
Common Sense said…
Never got a response from the city manager about my question of when the hotel accros from Union Station will break ground. Makes me think it's never going to happen.
January 27, 2022 at 3:03 PM
Common Sense said…
WBJ is reporting that Madison just got financing for the first residential/retail building. They're saying it's going to be open by Summer 2023. Why is it going to take longer to build this than it took to build the whole ballpark?
January 27, 2022 at 3:15 PM
Anonymous said…
If you go back and look at the pro forma, the first residential building, and all the other buildings, were suppose to be completed BEFORE January 2021. This was when the ball park was estimated to cost $100 million. Now the ball park is estimated to cost $175 million and the only building close to being completed and producing additional taxes, 2.5 years late, is the first residential building which you state just received it's funding and people are asking why the Worcester Business Journal is inquiring how the project pays for itself. How about using a little common sense.
January 27, 2022 at 6:22 PM
Anonymous said…
No one wants it to fail. What most concerned citizens worried about, which is happening, could be put into two possible areas of concern. 1) the star struck small town local yocals being bamboozled by the city slickers. Or 2) the lack of transparency because the ones in power that are supposed to protect the interest of the city and its citizen got taken for a ride that the city will pay for for years. And many saw this coming from a distance. At least the Madison project is keeping close to there original
Proposal, albeit delayed
January 27, 2022 at 9:12 PM
Anonymous said…
No one that I know wants the project to fail because if it does we end up paying for it but if you raise concerns that it appears to be failing you are labeled as being against the project.
January 28, 2022 at 2:43 AM
Anonymous said…
Many years ago I recall the City Square was stalled under a developer from Boston. The City adjusted and brought in a couple of new developers, took a chance on moving UNUM (which didn't work out in the long run) and jump started the project.Maybe it's time to dust off that old playbook?
January 28, 2022 at 3:49 AM
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