PawSox proposal to be reviewed in six open hearings

THE PAWTUCKET FOUNDATION has commissioned a report that finds a proposed $83 million ballpark for the Pawtucket Red Sox would pose a minimal financial risk for taxpayers and the team. / COURTESY PAWTUCKET RED SOX
THE PAWTUCKET FOUNDATION has commissioned a report that finds a proposed $83 million ballpark for the Pawtucket Red Sox would pose a minimal financial risk for taxpayers and the team. / COURTESY PAWTUCKET RED SOX

PROVIDENCE – The Senate Finance Committee has announced its schedule of public hearings to vet the finances behind the latest proposal for a new stadium to host the Pawtucket Red Sox.

Beginning Sept. 14, Rhode Island lawmakers and the public will get more detail on the proposal to build the stadium in downtown Pawtucket, the financial assumptions and inherent risks to both the state and city governments.

Public testimony will be taken at all six of the hearings, which will be held in various locations statewide.

The latest proposal would place a 10,000-seat ballpark at the Apex site in downtown Pawtucket. The $83 million facility, including site costs, would be paid through a combination of private investment by owners and public bonds.

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According to a breakdown provided by the city of Pawtucket, the PawSox would put forward $45 million, with $12 million coming from the owners. The remaining $33 million would come from rent and naming rights, which would pay down the bonds issued by the Pawtucket Redevelopment Agency.

The state would fund $23 million of the ballpark costs, according to the city. These bonds would come from taxes generated by the new facility.

Pawtucket, for its part, would fund $15 million, including the $10 million in site costs.

The hearings to vet these figures and assumptions will include three initial meetings to present an overview of the proposal and its risks to both state and city taxpayers. They are as follows:

  1. Thursday, Sept. 14, 6 p.m., room 313, at the Rhode Island Statehouse. The Senate Finance Committee will outline the hearing process, receive an overview of the proposal and take public testimony.
  2. Tuesday, Sept. 26 a t 6 p.m., William E. Tolman High School auditorium, 150 Exchange St., Pawtucket. The committee will review potential ancillary development and Pawtucket risk, and take public testimony.
  3. Tuesday, Oct. 3, at 6 p.m. at the University of Rhode Island, Swan Hall auditorium, 60 Upper College Road, Kingston. The committee will examine the economic model and review state level risk analysis, and take public testimony.

Three additional meetings will be aimed at collecting public testimony and allowing committee members to question previous presentation materials. They are scheduled as follows:

Wednesday, Oct. 11 at 6 p.m., at the New England Institute of Technology, media presentation theatre, 1 New England Tech Blvd., East Greenwich.

Thursday, Oct. 12 at 6 p.m., at the Roger Williams University School of Law, Room 283, 10 Metacom Ave., Bristol.

Thursday, Oct. 19, at 6 p.m. at Bryant University, Bellow Center Grand Hall, 1150 Douglas Pike, Smithfield.

Mary MacDonald is a staff writer for the PBN. Contact her at macdonald@pbn.com. Follow on Twitter at MaryF_MacDonald.

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