For starters, the N&R’s Doug Clark reports (big deal) the Greensboro Chamber of Commerce has endorsed High Point’s proposed tax-increment financing plan for a downtown baseball stadium:
It’s notable that Greensboro business leaders recognize that the county gains by High Point’s success. The project, centered on a city-owned ballpark, has received pledges of $50 million in private funds to build an events center, children’s museum and park, as well as plans to add a hotel and apartments.
The city has asked the county to join it in designating additional property tax revenue that will accrue from the development. This is a technique outlined in the Guilford County Economic Development Investment Guidelines.
These guidelines state:
“A healthy, vibrant downtown is a sign of economic vitality and is one measure of the strength of a community. Two cities in Guilford County, Greensboro and High Point, have significant downtown footprints, the health of each having a large impact on the business activity and prosperity of Guilford County. Guilford County will support high impact projects that can redefine, reinvigorate or redevelop these downtown areas.”
The commissioners have an opportunity to help fulfill the county’s promise by working with High Point to move this project forward.
The Guilford County Board of Commissioners will hold a public hearing on the project at tonight’s meeting. Commissioners could do one of three things—vote to approve the proposal, vote to reject the proposal or do nothing, at least for the time being. Doing nothing would—according to High Point city leaders—throw a serious wrench in the ambitious schedule for the stadium’s opening—which right now is the 2019 season.
This morning I heard WFDD interview a local reporter about the project–can’t find the story on their website— but the interviewer asked the reporter what would happen if the commissioners rejected the plan. The reporter stated that stadium supporters have come too far to let that stop them, so they probably will find another way to finance the stadium. Good—makes you wonder why they have to come to the county in the first place.
