11-02-2010 Recovery Zone bond may fund Coveleski improvements

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enable broader, extended use of the ballpark, expanding its economic impact and creating potential development sites for housing, commercial and retail uses." Built for $ ll million in 1987, Coveleski Stadium has a 5,000-seat capacity. Coveleski is owned by the City of South Bend and managed by the South Bend Parks and Recreation Department. It is home to the South Bend Silver Hawks, a Class A minor league baseball franchise. Coveleski has been called "the grandfather of the modern ballpark" for a design template that inspired other ballparks like Baltimore's Oriole Park at Camden Yards and Cleveland's Jacobs Field, which were built in the heart of downtowns and urban neighborhoods. In 2007, the City of South Bend began discussions with Cove architect HOK Sport (now Populous) to enhance the stadium facility, create greater connectivity with downtown and foster economic-development opportunities in the surrounding neighborhood. This effort coincided with the planned relocation of the Gates automotive dealership to Erskine Commons. Since then, the City has acquired nearly 15 contiguous acres of property surrounding the stadium as part of a strategy to encourage new, mixed-use development. Already this season, the City has renovated restrooms, made drainage improvements, installed new outfield wall padding and added a new backstop net. In the 16-team Midwest League, Coveleski is the fifth oldest stadium. Since it opened, there were 12 new stadiums built in the league (with most recent costs ranging from $20 million to $33 million). The City of Fort Wayne demolished suburban Memorial Stadium (built six years after Coveleski) to build a new, $30.6-million Parkview Field downtown in 2009. The Cove's proposed $9.6 million renovation is less than recent Midwest League renovations of $10.5 million in Kane County, Ill., and $12.5 million in Davenport, Iowa. "We believe this plan represents a fiscally prudent reinvestment to allow Coveleski Stadium to compete with new stadiums in other Midwest League cities and serve us well for years to come," Luecke said. "This investment also will spur action by private development partners interested in sites near the stadium for commercial/retail ventures or new infill housing." About $5 million in proceeds from the Recovery Zone bond would be supplemented by nearly $2 million in Tax Increment Financing revenue and bond proceeds from the downtown TIF district. Another $3 million in other local tax sources would provide the balance of revenue needed for the capital improvements. "The Cove" has drawn more than 4 million fans since 1987, offering 70 days of family entertainment downtown. The economic impact of visitors for the home-game schedule alone reaches nearly $700,000 annually. In addition, the Professional Sports Development Fund enables the City to capture as much as $400,000 annually in sales tax revenue, which would otherwise go to the state. The proposed changes will enable the ballpark to expand its use for high-school baseball tournaments, concerts and year-round gatherings. The outfield and exterior improvements will strengthen Coveleski's status as a downtown city park with a walling trail, water splash pad, playground, fire pit and other features. A new picnic area, extended left-field concourse and the team store would be ready by opening day, with most other features ready for the July 4 home stand. ###