Please do not leave this page until complete. This can take a few moments.
When City of Worcester officials announced in 2018 they would build a Canal District baseball stadium to get the Triple A minor league affiliate of the Boston Red Sox to move from Pawtucket to Worcester, they said the $160-million ballpark would pay for itself, as housing and commercial developments in the special taxing district around the stadium would generate enough tax revenues to cover the twice-annual bond payments, along with other revenues, such as parking fees and taxes on stadium concessions. Former City Manager Edward Augustus repeatedly said this pay-for-itself provision was the City's North Star in making financial decisions on the stadium. If the special tax district revenue falls significantly behind the bond payment amount, the City would have to figure out alternatives to make its bond payments, including raising taxes, cutting services from other departments, increased borrowing, or refinancing the bonds.
When City of Worcester officials announced in 2018 they would build a Canal District baseball stadium to get the Triple A minor league affiliate of the Boston Red Sox to move from Pawtucket to Worcester, they said the $160-million ballpark would pay for itself, as housing and commercial developments in the special taxing district around the stadium would generate enough tax revenues to cover the twice-annual bond payments, along with other revenues, such as parking fees and taxes on stadium concessions. Former City Manager Edward Augustus repeatedly said this pay-for-itself provision was the City's North Star in making financial decisions on the stadium. If the special tax district revenue falls significantly behind the bond payment amount, the City would have to figure out alternatives to make its bond payments, including raising taxes, cutting services from other departments, increased borrowing, or refinancing the bonds.
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
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
I think if most people were paying attention, they at the time should have had a clear understanding that no other minor league team in the US ever funded a project that paid for itself successfully. So, as much as I feel strongly that when leadership makes such a claim, they live up to it else they risk decreased support for future initiatives. Still, I'd pay a little extra in taxes to support the park but frankly, I'd rather go see a game and spend money there having fun rather than just giving it to the city in the form of taxes.