VIRGINIA BEACH -- A $50 million professional baseball stadium and complex could be built in Virginia Beach by 2015.
The company, Virginia Beach Professional Baseball LLC, is pitching the idea to city council this Tuesday.
The plan calls for a 5,000-seat stadium and 2,000 lawn seats near the Sportsplex.
VBPB would also build a youth baseball complex with 13 lighted fields and 4 softball fields across from the Princess Anne Athletic Complex. The project would add 1,100 parking spaces.
VBPB would pay for the project by investing $6.3 million and borrowing $43.7 million.
The city would pay $7.4 million to widen Landstown Road and give the company admissions and real estate tax breaks for the first 20 years.
City Manager Jim Spore's report estimates the deal would bring in $20.8 million in tax revenue each year, along with 282 jobs and 15,422 hotel rooms rented annually.
The stadium would host an independent Atlantic Baseball League team. The city report states the Virginia Beach team would not compete with Norfolk Tides, a triple-A affiliate, but instead, "share the market comfortably."
City council is set to vote on the deal February 11. If approved, VBPB hopes to start construction in June and have the fields and stadium completed by June 2015.