"Unfortunately, we have to play the hand that we’re dealt."
Mayor Luke Bronin
Hartford Mayor Luke Bronin announced Wednesday a deal between the city, the developer of Hartford’s new minor league baseball stadium, and the Hartford Yard Goats that will cover a $10.3 million shortfall to complete the stadium.
The city said the stadium will be ready for the team's home opener on May 31. The stadium was originally scheduled to open April 7.
Bronin said it was important to find a solution to the funding gap.
“Unfortunately, there had been a lot of finger-pointing, but I think one thing is clear that finger-pointing was not going to get this project back on track,” Bronin said.
The City of Hartford will receive $2 million from the Yard Goats and $2.3 million from DoNo Hartford LLC. DoNo has also committed to covering about $2 million in tax payments for the project. This leaves the city to finance an additional $5.5 million for the stadium.
Bronin's office said later on Wednesday that the city is effectively financing $3.5 million, because DoNo will increase its tax payments each year to the city.
“Nobody wanted to put more money into this project. Unfortunately, we have to play the hand that we’re dealt. The taxpayers of the City of Hartford were going to be on the hook for far, far more if we were not able to come to this agreement,” the mayor said.
Yard Goats owner Josh Solomon issued a statement, below, about the deal reached between the team, the developers, and the city:
Today is an important day for Hartford and I’d like to congratulate Mayor Bronin for his diligence and commitment to make this work. The Mayor asked that the team make a significant financial contribution toward solving the developer’s budget and scheduling problems. We felt that it was important to help the City however we could. Its critical to the community that Dunkin Donuts Park get completed as quickly as possible without making any changes to the quality of the ballpark. We’re committed to Hartford and delivering the best of minor league baseball to Connecticut’s Capitol City.
Last month, representatives from DoNo Hartford LLC informed city officials that the $56 million project was $10.3 million over budget, and the stadium would not be able to open as originally scheduled.
Bronin assured residents that the deal represents the city’s best effort to protect the interests of Hartford’s taxpayers.
“If you take into account the long-term tax payments that DoNo, LLC will be making, the city of Hartford will be bearing approximately one-third of the burden of filling this financial gap,” Bronin said.
According to Bronin, the city reserves the right to contest the $10.3 million budget if stadium developers fail to finish the project by the expected completion date of May 17.
“Nobody is standing here waiving a mission accomplished banner. There is a lot of work left to do,” Bronin said. “We need to ensure that the project at the baseball park proceeds on the new revised schedule, and just as important, we need to make sure that the entirety of the Downtown North development proceeds as promised.”
Bronin plans to hold a town hall style meeting on Monday to discuss the deal with Hartford residents.
Daniel Keith is an intern at WNPR.
