HomeMy WebLinkAbout11-02-2010 Recovery Zone bond may fund Coveleski improvements.lL T~'
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Office of the Mayor
NEWS RELEASE
November 2, 2010
1:45 p.m.
Recovery Zone bond may fund Coveleski improvements
Contact: Mikki Dobski, Director of Communications & Special Projects, 235-5855 or 876-1564
or Don Inks, Director of Economic Development, 235-9371
The City of South Bend has taken steps to fund improvements to 23-year-old Stanley
Coveleski Regional Stadium in order to bring the facility into compliance with league
standards, broaden its potential use and spur on private investment in its vicinity.
The South Bend Redevelopment Commission voted 4-0 today (Nov. 2) to pursue a ~9.6-
million upgrade to the downtown ballpark primarily with a 54.9-million federal Recovery
Zone Economic Development bond. These funds are made available at low interests rates
through the federal stimulus program. The Redevelopment Commission approved a
preliminary bond resolution, authorizing issuance of the bond. The South Bend Common
Council on Nov. 8 will review the proposal, which requires approval before the Recovery
Zone option expires at year's end. Final Redevelopment Commission action would take
place Nov. 19 with a public hearing and final approval at the Nov. 22 Council meeting.
The improvements, most of which would be completed by July 4, 2011, include:
^ A new centerfield entrance, ticket office and concessions area.
^ An expanded concourse with 360-degree seating.
^ Basic facility upgrades to the scoreboard, sound system, lights, mechanical systems,
restrooms and food-service areas.
^ Major overhaul of the field drainage system with a new artificial turf field.
^ Upgraded fan amenities including a picnic area, Kids Zone and splash pad, new
concourse-level suites, a left field home run area and a refurbished Upper Deck area.
^ Renovated dugouts and locker rooms for player safety and a new training facility.
^ Anew team store in the renovated B'Nai Yisrael (Sons of Israel) Synagogue.
"As Coveleski Stadium approaches its 25th anniversary, we need to reinvest in this
landmark facility to remain in compliance with league standards and to care for a
premiere City facility," said Mayor Stephen J. Luecke. "But these renovations also will
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.
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