Nine-time major league all-star, Gary Sheffield, hit 509 home runs in a career that spanned 21 years. Now he is hoping to hit another one in Pasco County, near his hometown of Tampa, Florida. Sheffield and Pasco Sports intend to build a $34 million, 100-acre sports complex comprised of 20 ball fields, dormitories large enough to house 100 traveling teams, and an indoor training facility.
Because he and his partners have been thrown a few curveballs by the county commissioners, largely due to concerns and misunderstandings about the interest rate on a bridge loan (that they do not expect to ever use), Sheffield has pledged to put up $3 million of his own money, if that’s what it takes to get the commissioners to move off of first base.
The final capital stack will be made up of $11 million in county-supplied funds and $23 million from the project partners. The $23 million will include $20 million in EB-5 funding, which is expected to be in place before construction is scheduled to begin in late 2015.
Source: The Tampa Tribune
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