make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

For those who missed key components of NSS study....

They are below,again good research and facts of the deal,are critical...
Quote--
National Sports Services draft report highlights

Cost

$36-42 million for construction, land, infrastructure
Costs for construction and land are comparable to preliminary estimates from Mandalay, but there may be some opportunities for savings either from a change in scope to the proposal, or from a more specific, detailed proposal when that becomes available.

Preferred location
Greater downtown area most preferred, followed by Eastwood Road corridor
Key factors include proximity to dining, hotels and other entertainment, as well as the potential to enhance existing and additional economic development, parking opportunities and existing infrastructure.

Economic Impact
City and County combined – over 20 years, estimated $313 million in new direct spending, $24.7 million new revenues, $451 million in new total output (City/County figures broken out as follows:)

City
■Estimated $242 million in total new output
■$168 million in new direct spending
■$19.3 million in new revenue
County
■Estimated $209 million in total new output
■$145 million in new direct spending
■$5.4 million in new revenue

Figures derived through multiplier effects of the team and ballpark output, including direct, indirect and induced spending. Sources for new revenues include lease payments, sales and property taxes, hotel taxes and admission taxes.

Jobs
Total of 6,412 new one -year full and part-time jobs earning $138 million
■City – 3,481 jobs that would generate an estimated $76 million in new personal earnings
■County – 2,931 jobs that would generate an estimated $62 million in new personal earnings

Intangible benefits
National/regional media exposure, affordable entertainment, enhanced community pride

Market/size
■Strong regional draw with military bases and nearby beaches as enhancements
■60% of market within 15 miles, equaling 255,000 residents; another 30% draw within 30 miles, equaling 348,000 residents
■Recommend 6,000-seat stadium; average seating at ballparks in comparable markets is just over 6,100 seats, with a range of 4,500-8,100
■Our demographics in same range as comparable ballparks

Public Support/funding
On average, public funding accounts for 59% of minor league baseball developments built since 1995
If Wilmington follows this model, the public investment would be $25.4 million, assuming the project would cost a total of $42 million. Mandalay would contribute $16.6 million through annual payments of $400,000 a year and other partners would need to be identified to contribute another $7.4 million.

Citizen funding support
53% of survey respondents indicated they would be willing to pay up to $2 a month for the ballpark

Mandalay return on investment
An estimated 18% profit margin in the first year, stabilizing at 10% by fifth year of operation and then an average 7.1% return over the life of a 20-year lease

Potential partners
Nearby real estate development, free or discounted land contribution, UNCW or others as tenants, other governmental partners, corporate fundraising, private donors, foundation grants

Other activities for ballpark
Comparable ballparks host youth, high school and college baseball, concerts, graduations, religious events, food festivals, private functions, movie nights, professional soccer games

Number of events
Comparable ballparks hosted an average of 153 events each year

Attendance
Attendance at comparable parks is 3,796 per game, with a range from 2,449-5,612

Comparable parks
Cedar Rapids Kernels, Fort Wayne Tin Caps, Greensboro Grasshoppers, Myrtle Beach Pelicans, Winston-Salem Dash

Costs/benefits
Tied to level of funding commitment; size of project can be scaled down, but benefits and return on investment diminish accordingly

UMQUOTE---

Next steps:----PLAY BALL WILMINGTON

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.