Please do not leave this page until complete. This can take a few moments.
Worcester City Councilors maintained strong support for the city-built Polar Park baseball stadium Tuesday night days after the project's latest total cost of $157 million was made public.
Councilors on Tuesday touted both tangible and intangible benefits from the ballpark: new property tax revenue Polar Park will bring in, making up for the city's costs for building it through new proposed developments on surrounding parcels, as well as the pride and buzz the project has brought to Worcester.
Councilor Gary Rosen dismissed criticism of the project, which has included questions about the project's rising costs.
"Thank God that we didn't listen to those folks," he said. "I feel bad for the naysayers."
City councilors voted unanimously to begin moving ahead on a $14-million bond that reflects most of a newly announced $17-million cost overruns that reflects new costs incurred over the past year. That followed $30 million in overruns announced a year ago. All told, the ballpark project is costing roughly $157 million, up substantially from an initial $101 million price tag.
The Worcester Red Sox are paying $7 million up-front of the new overruns, and will repay the city for its borrowing to cover the remaining costs. City Manager Edward Augustus said the city agreed to borrow most of the new costs as part of "an opportunity to help partners," referring to the team. A proposed lease between the city and the team, which could be approved as soon as Friday by the Worcester Redevelopment Authority, includes new terms that the city describes as concessions they've secured, including extending the lease period to 35 years from 30, and reducing potential penalties to the city if the ballpark isn't completed on time.
The new borrowing is not expected to negatively affect the city's credit ratings, Augustus said.
Augustus also defended the project's rising costs.
"None of us knew there would be a global pandemic that would hit in the middle of this project," he said.
The city's own accounting shows that a great bulk of the overruns are not directly attributable to the pandemic, and most took place before the pandemic started. The city has estimated $1.6 million in costs directly related to the pandemic, in addition to what it says are harder-to-measure costs, as well as personal protective equipment needed for workers.
Aside from procedural questions, officials lauded what they call the project's significant benefits to the city.
"It's going to reflect, I think, where the new Worcester is," Augustus said. Other proposed projects demonstrate how Polar Park has spurred new investment that he said would never have taken place otherwise.
"How would we have transformed 16 acres in one fell swoop?" he asked.
Two residents who spoke were less enthusiastic. One, Sue Mailman, the president and owner of Coghlin Electrical Contractors, urged city officials to give more transparency around the project's costs. Another, Nicole Apostola, was more critical about the ballpark's rising prices and costs to the public specifically.
"When will any of you say enough is enough to this project?" she said.
Read more Worcester Business Journal coverage on Polar Park and related development:
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments