Rhode Island FC’s soccer stadium continues to disappoint financially, leaving taxpayers in a deeper hole
This maintains a pattern observed with Rhode Island FC. In 2019, the owners revealed plans for a stadium project estimated to be worth $400 million, which included over 400 residential units, commercial space, and a parking garage. The developer of the project, Fortuitous Partners, asserted that it would allocate $27M of public funds that were initially intended for housing expenses in the neighborhood. The company will spend the $27 million on the development of the soccer stadium. Remember that Fortuitous also obtained an additional $43 million in taxpayer funding through "subsidies, tax breaks, and infrastructure improvements." Even so, the…
