WASHINGTON – Plans to build a new minor league baseball stadium in Prince William County, Virginia, have reached a key milestone.
Following eight months of negotiations, the Potomac Nationals, the county and a real estate company have agreed to a non-binding framework for moving forward on a stadium project at Potomac Town Center in Woodbridge.
The 4,600-seat stadium would be financed by the county, and an adjacent parking garage with 1,400 spaces would be financed by the state. It would double as a commuter garage.
The ballpark would be financed with about $31 million in bonds from the county, which would also pay $7 million to $10 million in upfront costs to get the site ready for construction and to improve nearby roads, County Supervisor Frank Principi said.
“The stadium itself would be owned by Prince William County, owned by the taxpayers,” he said, adding that “county taxpayers would not have any ongoing costs associated with the stadium,” because the team would pay off the stadium debt and other costs.
Construction of the garage would cost more than $20 million, according to a planning study. The stadium and garage would be located on land leased from the real estate company, JBG.
The entire project could cost close to $75 million, Principi said, but would generate 300 jobs and $7.5 million in annual economic activity. The project, he said, has “overwhelming support,” even though there are concerns about its impact on taxpayers.
“It’s very important for people to weight in” at the Board of County Supervisors meeting on Tuesday, Principi said. “I hope that a lot of people will show up.”
A new stadium could be completed as early as 2019. The current stadium, officials said, do not meet the standards of the Class-A Carolina League.
The post Tentative agreement reached on new Potomac Nationals stadium appeared first on WTOP.