Hartford Expected To Lose Money On Dunkin' Donuts Park In Yard Goats' First Two Years
Excitement has grown as opening day approaches at the city's long-delayed minor league ballpark. But financial estimates still paint a grim picture for Hartford.
Projections show the city is expected to operate at a net loss on the downtown north development during the first and second year the stadium is open. Hartford will lose about $2 million this year and $3.5 million next year.
City leaders must make a $2.7 million payment on the stadium in 2017, and spend more than $170,000 on public safety, which will provide traffic control during and after games. At the same time, Hartford is only expected to pull in $887,467 in revenue from the ticket tax, parking, a share of the ballpark's naming rights and the
Yard Goats' rent payment.
In 2018, the city's payment on the stadium and its public safety costs combined will reach nearly $5 million, while it is only expected to draw about $1.5 million in revenue. City officials only released estimates for the first two years of the park’s operation.
Some of the projections have changed over time. Previous city leadership had said the admissions tax would draw $426,000 per year, for example, while the most recent calculations show it would bring in $105,000 this year and $294,000 next year. Revenue in the current year is lower because the fiscal year, which began in July, is more than half over.
