From the exlusive interview with Jason Thompson -- ..."Thompson said the Ripken group's plan would not interfere with Mandalay's exclusive right granted by Minor League Baseball to explore putting a team in the Wilmington market. He said the Ripken venture would be focused only on developing the stadium/retail complex, and that the group has no problem with Mandalay running a Braves affiliate in the ballpark..."
So, the Ripkin Group comes in and builds the ballpark and adjacent retail site on a county site with private money. That's a winner for city of Wilmington property tax payers.
The County gets some significant property taxes on land which is currently vacant. That's a winner for New Hanover County even if they incur the expense for extension of some utility services to the site and end up giving some property tax adjustments to the developer.
Ripkin has confirmed they do not oppose Manadalnta operating the baseball franchise. Seems like that works well for Mandalanta.
Duke and MikeT get baseball. Does that satisfy their objective?
Looks like the only party not at this table is the owner of that over priced, river front parcel of land.
And, if this is a better deal for the city property tax payers, baseball fans, and New Hanover County, then one would think the city council would stand down from their pursuit of the Holy Grail on the river.
More information about formatting options