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SRP Park is 80 percent complete, city report shows

Posted: January 10, 2018 - 12:46am

SRP Park, the new home of the GreenJackets in Riverside Village, is 80 percent complete and on schedule to be finished by April, according to a status update posted by the city of North Augusta.

So far, $21 million has been spent on stadium construction. The total cost is projected to be $40 million.

The "Left Field Building," which will house the baseball team's clubhouse and offices and apartments overlooking the field, is 30 percent complete. The clubhouse is expected to be complete by opening day in April, with the offices following in June and the apartments by November.

Three projects are behind the schedule set by the Riverside Village Master Development Agreement: the stadium parking deck, another office building and the senior living facility.

City officials have said the hotel parking deck, which is 30 percent complete, and the completed Medac deck will handle stadium parking until its parking deck is done. It has been started and is 5 percent complete, according to the status update. Its completion schedule has been changed from April to December.

The hotel deck is 30 percent complete and expected to be complete by April. So far, $7.6 million has been spent on it.

The office building hasn't been started and its completion schedule has been changed from December to "N/A." Likewise, the senior living facility hasn't been started and has an open-ended completion date.

The hotel/conference center is about 15 percent complete. So far, $8 million has been spent on it. The hotel's restaurant hasn't been started yet but still is expected to be done by December.

The apartment building between the stadium and Hammond's Ferry is 40 percent complete.

The "condos over retail" building that will back up to the Brick Ponds also has not been started, but it is listed as being complete by December.

The status report was requested by North Augusta resident Fred Ilardi, who said Wednesday that he still had some questions for city officials. His chief concern is that the city might fall short of sales tax revenue, which is supposed to pay for its share of Riverside Village, and be forced to raise property taxes.

Pettit and other city officials have said they are working hard to make sure that doesn't happen.

And there's protection for taxpayers in the Municipal Improvement District agreement the city made with the developer, City Administrator Todd Glover said.

Under the MID, even if a project is unfinished at the end of December, the developer must pay property taxes on it as if it were finished, he said. Those property tax payments represent more than half of the money that will pay for the bonds, Glover said.

"That's something council put in there as a backstop to protect taxpayers," he said.

For more information, visit the city's website, northaugusta.net, and click "Riverside Village Construction Update."

 

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