The Biloxi City Council this afternoon, after nearly two hours in executive session, voted unanimously to commission an economic analysis of the impact of a downtown Biloxi baseball stadium.
The study, capped at a cost of $25,000, would determine the benefit of the stadium at the Beau Rivage site, as well as the likelihood of how the stadium would drive additional development in downtown Biloxi and on nearby Caillavet Street.
“I know how people feel about studies, but I want a credible analysis of what we can expect to see for our $21 million investment,” said Councilman Paul Tisdale. “One of the focuses of the negotiations has been determining whether we can pay the annual note of $1.5 to $1.6 million on the construction cost. The analysis would tell us what additional economic development we can expect and what additional revenue would be generated from those who attend baseball games and other events at the stadium.”
The resolution authorizes the administration to hire a firm to undertake the study, which Tisdale said he hopes “would be sooner rather than later.”
Photos: To see images from the City Council meeting on Tuesday, click here.
Background: To see Gov. Phil Bryant’s announcement about the proposed baseball stadium, along with comments by Mayor Holloway and renderings of the proposed stadium,
The intent to borrow: To see the measure passed by the previous City Council, in June, which expressed the city’s intent to borrow $21 million to help fund the cosntruction of a $35 million stadium, click here.