City of Asheville requests $22.9M in tourism tax dollars for McCormick Field renovations
ASHEVILLE - With a promise of funding secured from the city, Buncombe County and Asheville's own minor league baseball team, Chris Corl ― who is charged with overseeing the city's major stadium overhaul ― gave the Tourism Development Authority his $22.9 million pitch on May 31.
Clinching funding from the Buncombe County TDA is among the final hurdles for a needed $37.5 million McCormick Field renovation. Over the length of the loan, and with interest, the total cost of the project is $55.6 million.
The city is seeking funding through the TDA's "Major Works Pathways," and a unanimous vote from the board May 31 advanced the ask to the Tourism Product Development Fund Committee. From there, the committee will make a recommendation to the board, which will then take a final vote in June.
Previous reporting: 'Ready to play ball': McCormick funding plan meets MLB deadline; TDA, state money pending
More: Asheville backs McCormick Field funding plan, Tourists fans rejoice
Even more: Power goes out at a unique Asheville Tourists Opening Day, but the lights are staying on
Dubbed a "centennial restoration," the project would deliver significant capital investments for the city-owned stadium built in 1924 and secure the future of minor league baseball in Asheville. The asks are necessary to retain Major League Baseball affiliation for the Asheville Tourists, and also would expand the reach of the stadium itself.
“The facility could and should be used for a broader community benefit outside of just baseball,” Corl said. As the city's director of Community and Regional Entertainment Facilities, he oversees several Asheville event spaces, including the Harrah's Cherokee Center, the WNC Nature Center and more.
“All types of things can happen at a baseball stadium," he said. "You just have to think outside of baseball."
What is the city's request of the TDA?
Per Corl's presentation, the city is requesting the support of the TDA in a "collaborative, multi-year partnership" in the amount of:
$1.95 million grant reallocation of previously awarded funding for the Coxe Avenue Project.
$1.4 million per year, for 15 consecutive years.
Total: $22.9 million.
More: Asheville workers call on TDA to put tourism tax dollars toward affordable housing
“It seems like there is appetite. They seem like they want more information to fully understand the project, what all it entails," Corl said of the May 31 presentation. “It is a large project. To my understanding, it is the single largest ask they have ever had related to the (Tourism) Product Development Fund. So it’s big.”
A funding letter of commitment from City Manager Debra Campbell to MLB, sent in late March to meet an April 1 deadline, notes that the funding is "contingent" on approval from the TDA.
“If it does not get approved by the TDA, the project doesn’t immediately die," Corl said. "However, the city, the team and the county would need to reevaluate our stance and our funding plan.”
More: Asheville's most expensive private home after Biltmore is for sale. See the listing price.
Under this proposal, the TDA would fund 41% of the project. The county approved an allocation of $250,000 a year for 20 years, or 9% of the project, leaving the city to shoulder 50% of the cost, including a $1 million one-time fund balance allocation, and $1.3 million a year for 20 years.
Of that $1.3 million annually, $468,750 would be the team's lease payment, meaning the city actually pays about $875,000 a year in the "worst case scenario."
Corl said nationwide, the "vast majority" of minor league stadiums are publicly funded, with over 75% of total costs coming from public dollars.
Facility needs?
The stadium is the city's largest public, outdoor venue and home to the region's only professional baseball team. The proposed investment would retain the Major League Baseball affiliation for the Tourists, necessary after new requirements were initiated by MLB, which is calling the shots on facility upgrades for 120 affiliated minor league ballclubs nationwide.
As a result of the new requirements, 42 of 160 teams lost their MLB license. This is the first time facility standards have been updated since 1990.
More: Asheville's Mountaineer Inn sold for $6.1M; What comes next for the Tunnel Road property?
As outlined in a TDA news release sent out after the vote, McCormick Field contributes an annual economic impact of $9.8 million to Buncombe County and the facility upgrades are projected to increase out-of-market attendance growth by over 250% in five years.
According to historical attendance data presented in March, 29% of attendees are from Buncombe County, excluding Asheville, and 23% are from Asheville. Plus another 25% from Western North Carolina. The stadium sees an average of 180,000 fans a year.
“(It) is the perfect example of a project that makes sense for tourism dollars to be part of, but actually benefits more locals than visitors,” Corl said.
Venue upgrades encompass 18%, or about $6.8 million or project costs, including deferred maintenance upkeep, lighting, plumbing and electrical. Player amenities make up 38%, or $14.2 million of the cost, and visitor/guest amenities the other 44%, or $16.5 million.
Corl said improvements would mean the ability to operate year-round events, such as concerts, winter light festivals, craft fairs, ice skating, movie nights and more.
More: Asheville's most expensive private home after Biltmore is for sale. See the listing price.
More: WNC Activists, drag queens and poli sci professors talk proposed anti-LGBTQ legislation
Project milestones
May 2023: Issue request for qualifications for design
July 2023: Select and contract with a design team
July 2023: Issue a request for qualifications for a construction manager
December 2023: Select and contract with a construction manager
June 2024: Design complete
September 2024: Break ground
March 2026: Complete construction
April 2026: Opening day
Sarah Honosky is the city government reporter for the Asheville Citizen Times, part of the USA TODAY Network. News Tips? Email shonosky@citizentimes.com or message on Twitter at @slhonosky. Please support local, daily journalism with a subscription to the Citizen Times.
This article originally appeared on Asheville Citizen Times: $22.9M over 15 years: Asheville requests TDA funding for McCormick
