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Post by trimster on Jun 8, 2023 7:12:08 GMT -5
The D1 Docket now shows the Rock Hill, SC MTE on the schedule for 11-17, 18 and 19.
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Post by trimster on Jun 7, 2023 11:14:18 GMT -5
I was unsure whether he was in the photo or not I think Louth is next to Bo in the photo. I think he had a practice jersey on. I found the photo of the 5 frosh under one of the social media links at the men’s basketball site. I don’t see it on CDP’s Twitter page.
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Post by trimster on Jun 7, 2023 9:09:21 GMT -5
Dave Paulsen’s Twitter page has a post from 2 days ago about the team being back on campus. I don’t see any new faces in the picture. Are incoming frosh allowed to take summer classes?
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Post by trimster on Jun 7, 2023 7:59:46 GMT -5
From yesterday's Worcester Business Journal.
Despite shortfalls, Worcester anticipates making Polar Park debt payments as promised
PHOTO | MATT WRIGHT Crowds gather outside of Polar Park in 2021, ahead of a Worcester Red Sox home game Share on Facebook Share on Twitter Share on LinkedIn Share via Email Print Article Add PDF to Cart Write a Comment By Brad Kane Despite anticipated revenue shortfalls, the City of Worcester projects to continue making the debt payments on the $160-million Polar Park baseball stadium, as promised, without tapping general taxpayer funds.
As was the case for the first two years of debt payments, the saving grace for the current fiscal year 2023 and the next fiscal year 2024 is a $3-million property sale from 2021, the proceeds of which were placed into a reserve fund to help make the Polar Park payments.
man in blue suit PHOTO | EMMANUEL BOAKYE, COURTESY OF CITY OF WORCESTER Worcester City Manager Eric Batista Those reserve funds will be nearly depleted by the end of fiscal 2024, but by that time, the City anticipates the special district improvement financing (DIF) area around the ballpark will become revenue positive, particularly as more proposed housing, hotel, and office developments in the DIF come online. If those revenue-positive years start adding up, the City projects the DIF will generate at least $50 million in excess funding, above what is needed for the debt payments, over the 30-year lifespan of the DIF.
“The ballpark, it is successful,” Worcester City Manager Eric Batista said. “It continues to pay for itself, and it is attracting developments to the neighborhood and bringing attention to the city.”
Four years of shortfalls A chart showing the municipal bonds for Polar Park Chart on Polar Park municipal bonds In order to acquire the land, build the ballpark, and make other improvements to the Canal District neighborhood like street and sidewalk upgrades, the City of Worcester from 2018-2022 borrowed a total of $146 million through six long-term municipal bonds, according to a presentation Batista made to the Worcester City Council on Tuesday night. When the ballpark was initially proposed in 2018 as a publicly-owned home for the relocating Pawtucket Red Sox minor league baseball team, the City planned for the revenues from inside the DIF to cover the annual debt payments on the bonds. Then City Manager Edward Augustus repeatedly called this pay-for-itself promise his North Star for the stadium project, a mantra Batista has continued since he took over as city manager in June 2022.
“I don’t want it to be in a place where I’m pulling more revenues from the general budget,” Batista said. “Like with the ballpark, the goal is to create projects that create new revenue for the City.”
The amount of the debt payments vary by year and generally increase annually, including a significant spike in 2049 when the annual payment exceeds $14 million, according to the presentation. The first year the City needed DIF revenues to help cover debt payments was fiscal 2021, and every year since then those DIF revenues have fallen short of what the City needed:
In fiscal 2021, the DIF revenues were short about $250,000. In fiscal 2022, DIF revenues were short $1.3 million. In fiscal 2023, which is the current fiscal year ending on June 30, the City projects DIF revenues will be short $1.8 million. In fiscal 2024, which starts July 1, the City projects DIF revenues will be short $644,000. However, those shortfalls have been offset by the City’s DIF reserve fund, which received its most significant contribution in November 2021 when the City sold a publicly-owned property on Green Street for $3 million to the developers of The Cove, a 171-unit, seven-story housing complex now under construction. The City had originally purchased the parcel in anticipation of needing it for Polar Park and then sold it when it wasn’t necessary for the ballpark.
A chart showing the DIF reserve fund for Polar Park Polar Park DIF reserve fund cash flows The DIF reserve fund had $2.7 million left at the start of fiscal 2023, and after the projected DIF revenue shortfalls for the two next fiscal years, the City anticipates the fund will have $310,179 left at the end of fiscal 2024, according to Batista’s presentation.
“This is where it gets tightest,” City of Worcester CFO Tim McGourthy said. “2024 is when we get closest to the base of the reserve.”
If the reserve gets so low where the City can’t make the debt payments out of the DIF revenues, Batista would ask the City Council for a special appropriation out of general taxpayer revenues to cover the difference, he said Monday during his weekly appearance on the Radio Worcester show “Talk of the Commonwealth.”
City of Worcester CFO Tim McGourthy Batista and McGourthy do not anticipate that happening, though, as their projections show the DIF generating more money than necessary within the next few fiscal years.
“We anticipate the DIF will remain cash-flow positive,” McGourthy said.
Ballpark DIF revenues Revenue in the stadium district comes from a variety of sources, said Batista. The overall cash flow is only marginally tied to the success of the Worcester Red Sox in attracting fans to the Canal District, and those monies – parking fees and taxes on concessions and restaurant meals – make up a small portion of the DIF revenues.
Instead, the DIF cash flow is largely tied to the housing and commercial developments proposed and under construction around the ballpark. When the stadium was proposed in 2018, the sole developments this plan was based upon came from Boston developer Madison Properties, which proposed a $140-million total investment across two hotels, two residential buildings, and two office complexes.
Those Madison developments have since shrunk in size and been delayed, such as the hotel proposal being whittled down to one facility and delayed to 2025. However, new developments have been proposed inside the DIF, including The Cove and the proposed 400-unit, six-building Table Talk Lofts development.
As those developments are finished, the property values rise, and the tax payments start rolling in, the DIF will generate enough revenues to cover the annual debt payments, McGourthy said.
Other DIF revenue sources include the WooSox annual lease payment, ballpark advertising revenue, suite rental, and Madison Properties’ lease for the 340-space parking garage, which is $178,750 annually but includes higher payments in fiscals 2023 and 2024 because of Madison’s use of the garage before the lease officially started.
A chart showing the Polar Park DIF revenue sources Sources of revenue in the Polar Park DIF With all these revenues, the City anticipates the DIF will generate at least $50 million more than necessary for the debt payments over the DIF’s 30-year lifespace, according to Batista’s presentation. Once the City is certain the DIF reserve fund has enough money to cover the annual debt payments, McGourthy said the City can begin to withdraw excess revenue for the General Fund, which covers the expenses for the majority of City services.
The $50-million excess projection is based on a number of assumptions, and Batista said he is concerned about events like an economic recession or another COVID-like pandemic disrupting the City’s plans. The City is being conservative in its revenue projections, he said, to factor in any unknown changes.
“We can’t predict what the future may hold,” Batista said.
Public perception In May, an academic study used Polar Park as one of two national examples of why the pay-for-itself pro forma was largely a myth, saying governments shouldn’t count on tax revenues from surrounding developments to cover the cost of debt service. The study from professors at the College of the Holy Cross in Worcester and Kennesaw State University in Georgia said Polar Park would run a $40-$60-million deficit over the DIF’s 30-year lifespan.
The study arrived at those figures based on the rise in the construction cost of the stadium from its original $101-million estimate and the delay and shrinking of the Madison Properties developments.
When factoring in the other revenue streams, particularly the tax revenues from the additional developments like The Cover and Table Talk Lofts, the City arrives at its $50-million surplus figure.
Regardless of what happens with the finances, Batista said he plans to make annual updates to the City Council on the DIF revenues for the ballpark, in order to answer the complex questions around its financing, given the high level of public interest in the project.
“There are a number of folks in the community who will be skeptical, and they will always be skeptical,” he said. “We won’t fight it, but we will communicate the facts about the DIF payments.”
Beyond the DIF revenues and the City’s ability to meet its annual debt obligations, Polar Park has created an intangible economic benefit for Worcester, said Batista. Developers have cited the ballpark and the WooSox as one of the many reasons they choose to invest in Worcester, and the team gives the community something to rally around.
“The stadium brings a level of excitement and a level of marketing nationally when people hear about the team from Worcester,” he said.
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Post by trimster on Jun 7, 2023 5:33:25 GMT -5
Back to Cam Spencer. : Report: Rutgers' Cam Spencer Plans to Visit UCLA Men's Basketball The sharpshooter used to play for assistant coach Ivo Simovic at Loyola Maryland before joining the Scarlet Knights in 2022.
The Bruins are going after one of the top graduate transfers on the market.
Rutgers transfer guard Cam Spencer is planning to visit UCLA men's basketball, Stadium's Jeff Goodman reported Monday evening. Miami (FL), UConn and Oklahoma are the other schools still in the running for Spencer.
According to Adam Zagoria of NJ.com and The New York Times, Spencer is "not rushing a decision," implying that the sharpshooter won't be announcing a commitment anytime soon.www.si.com/college/ucla/mens-basketball/report-rutgers-transfer-cam-spencer-visiting-ucla-mens-basketballSpencer to UConn.
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Post by trimster on Jun 3, 2023 22:11:15 GMT -5
I believe I read St. John’s plays all it non con games at home this year. Correct me if I mis-remember. One road game at West Virginia.
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Post by trimster on Jun 3, 2023 12:17:40 GMT -5
AL Pitcher of the Month (May) - Nathan Eovaldi, Texas Rangers. NL Pitcher of the Month (May) - Michael Wacha, San Diego Padres. FIRE CHAIM BLOOM. Yesterday, please. Not signing Wacha and probably Eovaldi as well, was a huge mistake.
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Post by trimster on Jun 3, 2023 10:40:19 GMT -5
Are they playing us at the DCU or the Hart? I'm gonna say zero chance. That is being optimistic. I am going to go out on a limb and say the chances of St. John's playing HC again in Worcester are sub-zero.
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Post by trimster on Jun 3, 2023 8:37:52 GMT -5
The St John’s game is now on our schedule at the D1 docket. Does it give the time ? No.
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Post by trimster on Jun 3, 2023 7:30:37 GMT -5
The St John’s game is now on our schedule at the D1 docket.
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Post by trimster on Jun 2, 2023 14:23:20 GMT -5
My impression was NADII was indeed going to name names but Kit put the brakes on him. Entertaining to watch that interaction. Now let’s see if Ricky or the PC transplant chicken out before the paperwork is signed. The Johnnies announced their non-con schedule and HC is on it. I believe the date is 11-25.
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Post by trimster on Jun 2, 2023 9:45:23 GMT -5
HC has 5 seniors on next year’s roster and I believe they all have a “Covid Year” of eligibility left after next year. I wonder how this is affecting current recruiting if at all. It seems to me Gates didn’t decide to use his 5th year at HC until after New Year’s of ‘22. The hoops’ careers of those 5 seniors have very little in common with that of Gerrale. I may be in the minority but there are a couple of guys in the group I wouldn't mind seeing for a 5th year. One reason being I am not that big on bringing in 5-6 frosh a year from now. I know it's a very different college hoops world than 5-10 years ago but I'd like to avoid a 5-6 member class. I also think a couple of the group could contribute more than the average PL recruit would in year one. I also say that since it appears CDP is leaning away from the portal when it comes to roster building. Another reason is the roster will have one senior a year from now and a recruiting class of 1 does little for me. (I know, things can change quickly). Just a few thoughts.
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Post by trimster on Jun 2, 2023 7:44:05 GMT -5
HC has 5 seniors on next year’s roster and I believe they all have a “Covid Year” of eligibility left after next year. I wonder how this is affecting current recruiting if at all. It seems to me Gates didn’t decide to use his 5th year at HC until after New Year’s of ‘22.
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Post by trimster on Jun 2, 2023 7:35:54 GMT -5
As of yesterday according to the Transfer Portal, ND and Michigan among others, still have 4 schollies available.
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Post by trimster on Jun 2, 2023 7:19:23 GMT -5
Can we shift this recent diversion back to the topic ? The D1 Docket is a website that tracks non-con schedule info. Last time I checked, it only had exempt tourney info on teams since hardly anyone had announced their OOC game schedule. D1 docket.blogspot will bring you to the spreadsheet showing every team’s schedule. HC has no non-con games listed as of yet.
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Post by trimster on Jun 1, 2023 12:13:17 GMT -5
Hard to work miracles in year one with what Paulsen inherited. Most of us will be happy to watch well coached players for the first time in quite a while, even if there are few/no stars. I think this is exactly right. We should have tempered expectations for the first year, but should at least see a well coached competitive team. The rebuild begins in earnest next week. I believe summer sessions are 6 weeks long.
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Post by trimster on May 31, 2023 7:18:41 GMT -5
Former Fairfield big Supreme Cook has transferred to Georgetown.
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Post by trimster on May 31, 2023 7:11:19 GMT -5
Can we shift this recent diversion back to the topic ? The D1 Docket is a website that tracks non-con schedule info. Last time I checked, it only had exempt tourney info on teams since hardly anyone had announced their OOC game schedule.
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Post by trimster on May 30, 2023 11:49:07 GMT -5
Can we shift this recent diversion back to the topic ? Somewhat related to the topic, the Red Storm has one away game in its non-con schedule.
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Post by trimster on May 27, 2023 9:37:00 GMT -5
Someone posted this on the Ivy League Board.
In our long thread about the two Brown student-athletes who are suing the Ivy League for athletic scholarships, a Penn fan suggests that we can introduce such merit money without disrupting the existing system of need-based financial aid.
Over on the basketball board and occasionally here as well, I read posts from Penn fans who support athletic scholarships as a vehicle for bringing Quaker basketball back to its historic position of conference dominance. I'm not entirely sure why scholarships would benefit Penn more than the other seven Ivies, but that seems to be the opinion of some posters.
That general hypothesis of how merit money will affect each Ivy differentially is about to be tested.
I see that Harvard and Princeton have already organized school-sponsored platforms to match varsity athletes with potential NIL boosters. I have not checked comprehensively what the other schools are doing, but I was not able to find any mention of a similar effort underway at Yale yet.
Well, here we go.
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Post by trimster on May 24, 2023 10:19:47 GMT -5
For the immediate future, I'd rather see the 13th scholarship go to a big who can contribute right away. I know that is asking a lot but I think we are pretty well-manned at guard/small forward. This 6'8" kid from Cali who appears to be very well-qualified academically is interesting. One drawback is there is a possibility the kid doesn't own any winter clothes.
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Post by trimster on May 22, 2023 7:10:38 GMT -5
Joe is #33 in New England in the NERR final ranking The initial ranking didn’t include newcomers, (post grads and transfers into NEPSAC schools) in September. Final ranking does.
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Post by trimster on May 21, 2023 11:38:43 GMT -5
Many administrators & coaches at big time athletic factories never gave a rat's behind about the players getting an education. Student - athlete was a PR marketing term w/o any basis in reality for many big time athletes. Most everybody knew athletes were hired to play ball and hone their skills for pro ball. Now at least players are legally, openly receiving money commensurate with their value to the school. Education? What's that? Indeed many schools are in the entertainment business. Thankfully, HC is not & I hope it stays that way. Do any ever ask themselves " What the hell does intercollegiate athletics have to do with the academic mission of a college"? For myself as a student it was beautiful Saturday afternoons in the autumn and time in the lunatic asylum known as the Worcester Memorial Auditorium with other half inebriated HC crazies. The thrill of victory, the agony of defeat... It was fun! Unfortunately, I don’t think that can be sustainable. CDP had some very sobering words in his zoom call about the NIL and its effect on even the PL already. I don’t know how this is all going to shake out, but the days of just playing for the alma mater and the love of the game are over. Very few are talking about the enormous endowments some of the universities are sitting on. They couldn’t spend it all if they tried, and i believe that will be part of a solution. But where does that leave schools with sufficient endowments? I tend to think it will take up to a generation to see where this goes, and I won’t be around to see it. It's kind of like intercollegiate athletics has spun off its axis and isn't tethered to reality. Kids being paid outrageous amounts of money to play amateur athletics; kids transferring at the drop of a hat and playing for 3-4 schools in 4 years, leagues spread out across many time zones resulting in minor sports athletes traveling 1000+ miles to play a game. It's crazy and who knows what is on the horizon. I can see why some followers are walking away from college athletics.
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Post by trimster on May 20, 2023 12:04:24 GMT -5
NERR blurb on Declan One.
Ryan Reaches Division One Goal Friday, May 19th, 2023
0 Ryan Reaches Division One Goal Worcester Academy & BABC big man Declan Ryan recently announced his commitment to Holy Cross.
Before coming to New England, Ryan played at Canisius HS in Buffalo, New York. He had an outstanding final year for the Crusaders, leading them to an NYSCHSAA Class A State Title. Ryan averaged 20.6 points, 9.3 rebounds, and 3.1 assists, earning MMHSAA Boys All-Catholic Player of the Year.
A decision was made shortly after that season to do a postgraduate year at Worcester Academy in NEPSAC Class AA. He proved to be ready for the uptick in competition, earning a key role for the Oskees. Ryan was part of a team that won 30 games, and a AA Championship, while also earning a National Prep Championship Final Four spot.
Ryan played his last summer of grassroots basketball on the Nike EYBL circuit for BABC led by head coach Leo Papile.
“Declan has worked hard upon his arrival to WA and adjusted well to the speed of the game,” said WA assistant coach Dan Sullivan. “His toughness showed in having to deal with a hand injury all season. Declan’s conditioning has improved and he has inside-out skill to make an immediate impact in the Patriot League.”
Ryan becomes the fifth member of WA’s 2023 class who will be competing at the Division One level next year.
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Post by trimster on May 20, 2023 10:02:48 GMT -5
Well, that settles that.... Bret will be moving... house went on the market 3 days ago.... Who moves more? Army or coaches families.
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