Winchester Economic Development Authority

Minor League Ballpark Preliminary Market and Financial Analysis Market Analysis South Atlantic League/ Regional/ Comparable Ballpark Review - Project Cost and Funding Sources Team Ballpark Ballpark Owner Seating Capacity Project Cost Project Cost per Seat Funding Notes

Bowling Green Hot Rods

Bowling Green Ballpark

City of Bowling Green

4,500

$18,000,000

$4,000

Ballpark funded through a Tax Increment Financing (TIF) district and $25M bond issuance by City of Bowling Green. City pays $1.6M in annual debt payment to retire bond. Ballpark part of a public/private $125M downtown revitalization project including condominiums, hotel, retail space, and parking garage. City of Fort Wayne contributed $25M. Ballpark funded by non-profit entity Downtown Greensboro Renaissance. Guilford County contributed land and $4.5M in a land swap with ownership entity.

Fort Wayne TinCaps

Parkview Park

City of Fort Wayne

8,100

$30,600,000

$3,778

Greensboro Grasshoppers

NewBridge Bank Park

City of Greensboro

7,500

$20,000,000

$2,667

Greenville Drive

Fluor Field

City of Greenville

5,000

$15,000,000

$3,000

Ballpark funded by team. City contributed land and built infrastructure for $8M.

Lakewood Blue Claws

FirstEnergy Park

Township of Lakewood

6,600

$20,000,000

$3,030

New Jersey Development Administration issued a $19.3M bond that is guaranteed by Lakewood. Bond will be repaid with sales tax revenue generated in Lakewood's Urban Enterprise Zone.

Lexington Legends

Whitaker Bank Ballpark

Alan Stein

6,500

$13,500,000

$2,077

Team and ballpark owned by local businessman.

Normal Cornbelters

Corn Crib

Normal Professional Baseball, LLC

4,000

$12,000,000

$3,000

Ballpark funded through a land-lease agreement with Heartland Community College which contributed $3.5M in funding. Town of Normal collects $1.50 of $3 parking fee ($100K per year). Ballpark financed by a 1 cent sales tax increase approved by voters. Team agreed to 18 Yr lease w/ 3, 4-year renewal options. Team payments include a $15K per year fee, a share of season ticket revenue, and a share of naming rights. State of West Virginia provided $12M in funding through state economic development grant. Revenues from video lottery machines funded the grant program.

Rome Braves

State Mutual Stadium

Floyd County

5,000

$15,000,000

$3,000

West Virginia Power

Appalachian Power Park

City of Charleston

4,500

$23,000,000

$5,111

Source: 2011 Revenues From Sports Venues - Pro Edition and Internet research