The Worcester City Council has approved four new tax breaks for a mixed-use development slated to rise across Madison Street from the $132-million Polar Park public baseball stadium.
Worcester Business Journal publishes a podcast every Monday called The Weekly Business Report, a forward-looking news segment designed to make Central Massachusetts business professional informed about what is going to happen in the local economy.
More than half dozen economists interviewed by WBJ said the cost overruns will make Polar Park far less likely to come close to paying for itself after it opens in 2021.
In announcing the start of the WooSox Foundation, the Worcester Red Sox donated $25,000 to the Worcester Public Library and $40,000 to Worcester Public Schools.
The total public spending on all four Canal District projects directly related to the August 2018 announcement by the Pawtucket Red Sox to relocate to Worcester has increased to $189 million.
While the cost to build the Woo Sox's new home at Polar Park in the Canal District has increased to $132 million, the Worcester Red Sox president promised opening day for the Triple A affiliate of the Boston Red Sox remains unchanged.
The $132-million public commitment for the Worcester Red Sox ballpark was to be a catalyst for a $125-million mixed-use development planned to rise next to the stadium. But existing tax breaks and public financing for the development may now be joined by further tax relief requested by Worcester City Manager Edward Augustus.