A waterfront ballpark to attract the Angels to Long Beach could cost more than $1.1 billion, and the city has received a study that explores options for paying some or all of that cost, according to city documents released Monday night.
Angels owner Arte Moreno signs autographs following a news conference outside Angel Stadium to talk about center fielder Mike Trout's 12-year contract with the team on March 24. could cost more than $1.1 billion, and the city has received a study that explores options for paying some or all of that cost, according to city documents released Monday night.have not committed to move to Long Beach, and the city has not committed to pay anything toward the construction of a stadium.
The city last October estimated the cost of a stadium at $900 million, not including more than $200 million in financing costs, and an additional $105 million to put up a parking garage with 3,500 spaces. The city’s plan relies heavily on parking in existing structures within walking distance of the proposed ballpark, with consideration of shuttles from remote lots as far as seven miles away.
The report also suggested the city could use revenues from naming rights, concessions and sponsorships. In most cases, that revenue belongs to the team. A likelier scenario: Tax generated from the ballpark and surrounding development would be diverted to help pay for the project, rather than made available for other city uses.
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