OCEAN CITY, Md. — On Monday, for the first time in nearly a year, Ocean City’s Sports Complex Task Force convened for an update on the project. Officials have learned that they are inching closer to deciding on a location and are considering how to pay for the facility to keep it open if it is built.
Regarding the location, 3 sites teeth Under analysis.
Option 1 is a vacant lot next to Stephen Decatur High School, a location many people are already familiar with.
The second option is somewhere off Route 50, slightly west of the Decatur venue, according to the Maryland Stadium Authority.,and The third and final location is near the intersection of Route 113 and Racecourse Road.
MSA Executive Vice President Gary McGuigan told the task force that state officials hired an architectural firm to evaluate each location.
“Work is expected to begin early next year, but will probably last until the end of next year.”, fortheyto Look at up to 3 sites, make an evaluation “How the site is looking for this potential sports complex,” McGuigan said.
Officials may need to keep an eye on Maryland until the location is sorted out. According to the plan, the government will bear 80% of the construction costs for the planned complex.
But the state budget is at a stage where Gov. Wes Moore is considering cutting spending by $2 billion next year.
Ocean City Councilman John Gehrig hopes Maryland lawmakers keep an open mind when considering sports complex projects.
“Yes, you can get out of there, but the other option is to consider investment ideas on how to make a little more money.” Too” Gehrig said. very I’m sure the country will make money from this. ”
A report from the sports facility company, the operator of the proposed complex, supports Gehrig’s beliefs.
“The market offers a great opportunity to promote mass sports sightseeing,people Jim Arnold, partner at the sports facility company, said:“And ultimately, from a long-term perspective, we think there is a huge opportunity to break even operationally.” TooWhich not seen often In this industry. ”
The financial analysis Arnold shared at Monday’s meeting highlighted annual operating costs and compared expected revenues.
SFC anticipates the complex will be able to host events ranging from basketball and volleyball tournaments to birthday parties and youth programs. Taking all of this into consideration, our annual revenue forecast looks like this:
Profitable projects (SFC research)
– Year 1: $4,154,834
– Year 2: $4,465,064
– Year 3: $5,524,163
– Year 4: $6,095,465
– Year 5: $6,608,828
However, keeping the lights on at the proposed facility would be costly, and operating costs would offset a significant portion of the revenue the facility would generate.
Operating costs (according to SFC)
– Year 1: $2,782,070
– Year 2: $2,827,366
– Year 3: $3,061,240
– Year 4: $3,262,666
– Year 5: $3,383,622
The town has ideas on how to fund the operation of this facility. One idea is to raise Worcester County’s lodging tax.
Annapolis lawmakers recently passed a bill that would allow the county to increase room taxes from: 5% to 6%. The move would require a unanimous vote of Worcester County commissioners.
Another idea discussed Monday was the creation of a business investment district.
“We need to go to the state Legislature and approve the ability to create a business investment district,” Gehrig said. ”after that You can create a financing mechanism that doesn’t necessarily require a lodging tax, and where local businesses contribute to the project.
The Mayor and City Council are scheduled to discuss the potential business investment district at a future meeting. That date has not yet been decided.
