For the second year in a row, revenue collected from the development district around Polar Park in Worcester has come up short to pay the stadium’s construction debt, according to city officials.
In a communication to the Worcester City Council for their Oct. 21 meeting, Chief Financial Officer Timothy McGourthy reported a shortfall of $929,000 in anticipated revenues for Fiscal Year 2025.
To pay off the debt associated with Polar Park’s construction, the city established a District Improvement Financing (DIF) plan in 2018. The plan involves collecting revenues from sources such as permitting fees, property taxes, hotel and meal taxes, team payments from the Worcester Red Sox and parking revenues. Under this plan, members of the city administration said the park would “ pay for itself

MassLive

Reuters US Economy
Times Herald
KAWC
Lansing State Journal
Grist
The Baltimore Sun
TIME
FOX News Videos
The Daily Beast