Rhode Island taxpayers are now paying off $130+ million in debt payments for their soccer stadium
When the new stadium was first announced in 2019, the state of Rhode Island would give $27 million to the developers for development of housing units around the stadium. The stadium developer claimed that the cost of the project would be just over $80 million. But after some time passed, the developers claimed that construction costs were too high and that the deal wouldn't work. The Governor cast a tiebreaker vote to allow the taxpayers' costs to shift from housing to the stadium. At this…
Read More
Pawtucket stadium drama continues with mystery investor who will never be revealed?
Poor Pawtucket. Several years ago, they wanted to find someone to help them build a new stadium for their soccer team, the Rhode Island FC. Then in 2019, this mystery group, called Fortuitous Partners (FP), told city officials about their $400 million plan that involved building a soccer stadium downtown along with other amenities. Brett Johnson, a developer for FP, got everyone excited with talk of creating a “365-day-a-year destination with sports entertainment, retail, food, and then putting…
Read More
