Thursday, August 11, 2011
We've mentioned before how certain entities are eyeing the stadium.
Now a city commission has designated LaGrave Field historic designation by a city panel. (WHO is on the panel?) Now LaGrave can get tax breaks.
The story in the Fort Worth Star-Telegram points out a few of the things that make you go hmmm...
A city commission granted its highest historic designation to LaGrave Field on Monday, which will allow for property tax breaks if the minor-league ballpark is ever improved.
Bell, who has struggled financially in recent years and has been seeking a buyer for the stadium, said he wanted the designation to make the tax break available, but that he also wants the field to be "preserved forever." The stadium, he said, "is a vital and integral part of the community."
Bell has wanted the city to take over ownership of LaGrave and said Monday he still hopes that can happen. He is still working on permanent financing for the stadium.
Bell bought a tract of land around LaGrave from the city of Fort Worth in 2007 and once planned a multimillion-dollar residential and retail development. But by last summer he faced foreclosure on the 38-acre property. Bell renegotiated bank notes to keep the stadium, and was released from other notes after the property was sold to the Tarrant Regional Water District.
Bell owes more than $195,000 in property taxes and penalties for 2010, according to county tax records.
Just another day in the Wild West.