PawSox bill OK’d in House
Legislation to enable downtown Pawtucket stadium is approved, 55-13
jbissonnette@pawtuckettimes.com
PROVIDENCE – Following two hours of debate and analysis on Friday afternoon, the House of Representatives voted 53-13 to support amended legislation on the proposal to construct a new Pawtucket Red Sox ballpark in downtown Pawtucket.
With the support of the House, the amended bill next heads to the State Senate for approval.
The $83 million project would be funded by $45 million from the PawSox – $12 million in cash upfront – with the remaining balance coming from the PawSox, $23 million from the state, and $15 million from Pawtucket. House Finance Committee Chairman Marvin Abney explained that the $71 million balance would be raised via bonds through the Pawtucket Redevelopment Agency, which would be paid back through lease payments and taxes.
Debate was back-and-forth for much of Friday afternoon, with supporters saying the ballpark would be a game changer for downtown Pawtucket and that the state could not afford to lose the money the PawSox bring into Rhode Island, while opponents said the deal was too risky and that the strategy was built largely on hope rather than facts.
Under the new plan, the state would no longer be a lessee of the proposed ballpark to be built on the current Apex land downtown. Instead of the state, the Pawtucket Redevelopment Agency would have to guarantee the debt.
When questioned about the “inherent risks” associated with the bonds, District 23 State Rep. K. Joseph Shekarchi responded that buying bonds are like buying stocks, saying that while there are different types of bonds, “there’s always a risk regarding the value depending on the market and performance of bonds.”
Shekarchi later said that there’s no state guarantee in the proposal and if assumptions about attendance are wrong, the bond holders would be the one at risk. He then said that if the PawSox did leave Rhode Island, they’d be taking with them the millions in revenue they bring into the state each summer.
District 36 State Rep. Blake Filippi said an issue he had with the deal was over eminent domain language in the legislation and the notion that the park would be public.
“I have problems with taking property for the purposes of developing a recreational facility…” Filippi said. “I don’t think any of us are going to have a picnic out on the outfield lawn. If people do that now, it’s with the permis- sion of the PawSox, it’s not by right.”
District 41 State Rep. Robert Quattrocchi said he rose in “serious opposition of this bill,” with his concern over variable bond rates.
“I don’t have to tell you how risky variable rates are, which led to the housing crisis which led to our country’s recession,” Quattrocchi said. He also said a constituent came to him with a state law that he said allows only cities with populations greater than 125,000 to use variable rate bonds.
“We seem to have come full circle with this field of dreams proposition. But ‘Field of Dreams’ was a movie. We are dealing with reality and facts. Sitting through the testimony, I found it was long on emotion and very short on facts and figures. The fact is that the total success of this relies upon steady and strong attendance.”
At that point, District 26 State Rep. Patricia Morgan – who was sitting to Quattrocchi’s right – held up a large placard of a half-empty seating bowl at McCoy Stadium.
District 58 State Rep. Carlos Tobon quickly responded in support of the bill, saying the legislation has been “looked at extensively for well over three years. We have been listening to the people of Rhode Island, the speaker has been listening, there’s a sentiment they don’t want taxpayers to be on the hook. This proposition does not put the taxpayers on the hook.”
Even last season, in one of the worst attended years at McCoy Stadium, Tobon said the team still brought the state $2.7 million.
“The people of Rhode Island, this is Pawtucket, we want to do more,” Tobon said, turning to his fellow representatives and saying: “If you guys have ideas for the Apex site that’s been like that for 20 years, bring them on.”
“The stadium will be a catalyst to make downtown Pawtucket like what it once was in the ‘70s, ‘80s, and into the ‘90s … Let’s put this to rest, let’s make this happen,” the Pawtucket representative said.
District 57 State Rep. James McLaughlin said he was initially skeptical of the deal, but he said he’s looked at the “good things that are going to happen in reference to the city of Pawtucket.”
“Every one of you have an obligation to the 39 cities and towns to be responsible, make it possible,” McLaughlin argued. He also said there are a dearth of “empty shops” in downtown Pawtucket, calling on his fellow legislators to “give Pawtucket what they need. Let’s give them a boost and a vote of confidence.”
Morgan, however, said the bill before the House on Friday afternoon was “the very definition of risky.
Supposedly, this takes all the risk off the state but it is the very definition of risky.” She argued that interest in baseball is waning and attendance is declining.
Morgan said that instead of collecting property taxes in
the area, the city of Pawtucket is instead getting “an iffy revenue stream of taxes collected from food and drink, from sales on stores that may not come because we know the retail industry is in a swoon.”
“Hope is not an economic strategy, as much as we want it to happen, it is hope and it
is risky,” Morgan said. She echoed sentiments shared earlier in Friday’s session, saying variable rate bonds are risky and directly associated with the recession of 2008.
District 42 State Rep. Stephen Ucci said by doing nothing, the state would watch as the PawSox leave and take with them $2.7 million a year in revenue.
Ucci then said that even though he’s a baseball fan, he