MCC Will Not Recoup Development Costs for Baseball Stadium

College officials and others have been pitching the public that a minor league baseball team will pay for the $26 million stadium and attendant buildings.

But a document passed without dissent on Thursday, May 24th belies that premise.

Instead of recouping all of the money spent on the addition, an item passed entitled,

Resolution of Intent to Reimburse from Proposed Debt Certificate


A resolution of intent to reimbursement MCC for expenses related to land acquisition and development costs for the Health, Wellness and Athletic Complex, incurred 60 days prior to the date of approval of this resolution, through the issuance of debt certificates, is attached. This does not obligate the MCC to issue debt, but does allow the College to recoup expenditures prior to the issuance of the debt. (Emphasis added.)

So, what about all the money spent more than 60 days before the debt certificates are sold?

There was a lot paid to Patrick Engineering, Legat Architects, etc.

And I can’t leave out the $70,000 no bid contract signed by MCC President Walt Packard with Mark Houser, President of Equity One Development Corporation.

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