The Times-Dispatch reveals details on the financing of the proposed Shockoe baseball park (formerly known as a stadium):
Officials emphasized that the deal would be structured so that private investors — not city taxpayers — would be on the hook if revenue fails to cover debt payments.
The article goes into great detail about the proposed funding structure. It’s good news that they politicians and developers have gotten the message that taxpayers should NOT be on the hook for failed private investments.
Also, we learn that we are not to refer to the development as a stadium, but rather a ballpark:
Kreckman [vice president with developer Highwoods Properties] emphasized that what’s planned is a “ballpark” rather than a “stadium.” A ballpark is “very fan-friendly, very intimate,” he said.
That didn’t stop the TD from titling their article, “Stadium planners want multiuse park.”