Worcester OKs $14M Loan For Polar Park Cost Overruns

WORCESTER, MA — The Worcester City Council on Tuesday gave final approval to take out a $14 million loan to pay for construction cost overruns at Polar Park. The Worcester Red Sox will pay the loan back.

In early January, Worcester City Manager Edward Augustus Jr. told the Council construction costs had run over estimates by more than $17 million. That inflated the total cost of the park itself to $116 million, plus $41 million to acquire and prepare the property under the park.

The team will directly pay about $7.3 million toward the overruns. Worcester's $14 million loan to the team includes $10 million directly for overruns and about $4 million for fees and interest.

The WooSox agreed to some concessions in exchange for the loan, including extending the agreement not to relocate from 15 to 25 years, extending the team's lease of Polar Park from 30 to 35 years and splitting some advertising profits with the city. The team will also raise the per-ticket "facility fee" from $1 to $2 to bring in an additional $450,000 to put toward the loan.

Polar Park is on track to be ready for opening day in April, but minor league baseball has not announced a spring training start date. The 2020 minor league season was canceled due to coronavirus, and the league has told Double-A and the Class A teams spring training will likely start late so teams are not crowded together. The WooSox is a Class AAA affiliate of the Boston Red Sox.

The Council voted unanimously to take out the loan for the WooSox with District 5 Councilor Matt Wally abstaining and District 2 Councilor Candy Mero-Carlson absent due to a death in her family.