Ex-MLB Star Hoping for EB-5 Home Run

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

To learn the facts about the EB-5 investment visa program and how to put it to work for you, contact Dr. Gregory Finkelson at American Corporate Services or call 415-682-2550. To order my book, How to Find Chinese Investors, Agents & Clients for Your EB-5 Projects & Services - A Practical Guide for Regional Centers, Attorneys, Developers and Businessmen, click here.

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