In a recent government meeting, officials outlined the financial and logistical framework for a new minor league baseball stadium in downtown San Antonio, projected to cost approximately $160 million. The funding will primarily come from team equity contributions, anticipated revenues, and property taxes from new developments surrounding the ballpark, ensuring that general taxpayers will not bear the financial burden of the project.

The proposed site for the stadium, located near San Pedro Creek Culture Park and Fox Tech High School, has seen most properties acquired, with ongoing negotiations for the final piece owned by the San Antonio Independent School District. The stadium is expected to be completed by April 2028, in time for the start of the minor league season.

To finance the project, the city and county will establish the San Pedro Creek Development Authority, which will oversee the ballpark's ownership and funding. The financing plan includes issuing approximately $126 million in bonds, backed by revenues from the Houston Street tax increment reinvestment zone (TIRS). The team will contribute $34 million and cover any construction overruns.

The development surrounding the ballpark will unfold in four phases, with the first two phases generating an estimated taxable value of $575 million. These phases are crucial for supporting the bond issuance, as they are tied to revenue guarantees that will help repay the bonds through a combination of lease payments, ticket fees, and property tax increments.

In addition to the stadium, the meeting addressed the impact on local residents, particularly those living in the Soap Factory Apartments, which will be redeveloped. A comprehensive relocation plan has been proposed, offering tenants moving assistance, waived fees, and options for new housing in income-restricted units. The city plans to allocate $500,000 in relocation assistance, matched by private funding.

The meeting concluded with a commitment to ensure local participation in the construction process, emphasizing the importance of hiring local and diverse contractors. The team has pledged to engage with local businesses and provide opportunities for disadvantaged groups, including veterans and minority-owned enterprises.

Overall, the proposed ballpark project aims to enhance the local economy while providing community benefits, including public amenities and youth programs, as the city prepares for a significant development milestone in its downtown area.