Worcester Business Journal

wbjournal.com | October 1, 2018 | Worcester Business Journal 5 B R I E FS City Council approves $101M WooSox loan e Worcester City Council in September gave its final approval of a $101-million loan order for the city to pay for the construction of the new home of the Pawtucket Red Sox. With Councilor-at-large Konstantina Lukes the only opposed and Coun- cilor Matthew Wally recused, the 9-1 vote allows the city to officially borrow the funds to pay for land acquisitions, design services and construction of the $90-million Canal District ballpark. e measure passed with little discus- sion, but Councilor Sarai Rivera did seek answers on if the city's tax-increment-fi- nancing policy would be fully applied to the project. e policy calls for creating permanent, full-time, livable-wage jobs for Worcester residents, promoting eco- nomic diversity and benefiting the entire community. Acting Assistant City Manager Kathleen Johnson said it is premature to begin discussing what kind of jobs would be available at the ballpark since it is still more than two years away. e vote comes two weeks aer the council passed a host of motions in- tended to act as a broad vote of support for the project, which included autho- rizing City Manager Edward Augustus to obtain financing for the massive undertaking. Next up is hiring a project manager, which must be secured by Oct. 10, per a letter of intent between the club and the city. e team and city announced Aug. 17 plans to build a ballpark and mixed-use development on the former Wyman-Gordon land. Working hard, being incredibly f lexible, always listening. Not exactly superhuman feats of strength, but we're told that when it comes to service, we're pretty amazing. CALL 877-223-0577 or visit altusdental.com, and let us be heroic for you. altusdental.com 877-223-0577 SUPERHEROIC The Pawtucket Red Sox now play in McCoy Stadium in Rhode Island. Webster • Dudley • Oxford • Auburn • Worcester • Shrewsbury Providing the best service to his customers so they succeed. At Webster Five, your success is important to us. Whether you're a small start-up or a large corporation, we offer all the financial tools, resources and progressive services you need to succeed. Make an appointment and tell Keith what's important to you. Visit web5.com/Keith or call 508.438.4712. What's important to Keith? Keith Kirkland, VP, Business Lending Officer KHJ23479_WEB-374_BuisLender_4.3x5.5_Keith_Mech2.indd 1 3/31/17 11:37 AM Continued on next page Make Worcester more affordable e Worcester Regional Chamber of Commerce and Economic Development Coordinating Council has hired Smart Growth Economics to conduct a city-wide housing study this fall to compare Worcester's housing practices to similar cities. When polled online, WBJ readers said the biggest need in the city is for more affordable housing. F L AS H P O L L What are the city's biggest housing needs? More affordable housing 35% "Students and young professionals are a desired commodity in any community." COMMENTS: "None of the above. The city should not be promoting any type of housing. We should instead be focused on providing services to all of our neighborhoods equally in order to maintain the quality of life for all who live and work here." "It is important to raise the median household income in Worcester so that it gives outside businesses a reason to establish here." Housing for students or young professionals 18% Transit- oriented development 20% Luxury housing to attract higher earners 27%

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