Projected cost of the ballpark would be no more than $50 million.
With certificates of obligation off the table, the city's Chief Financial Officer, Carmen Arrieta-Candelaria said for the first year the most cost effective method to pay for the ballpark would come primarily from the Hotel Occupancy Tax (HOT tax).
Arrieta-Candelaria said, ideally, 70 percent of the funds would come from an increase in the HOT tax.
She said the other 30 percent would combine:
$40,000 from a ten cent per-ticket surcharge, estimating around 5,400 people would attend every game.
$200,000 from stadium rent, after the second year, three-quarters of that will go into a capital improvement fund, leaving $50,000 for the stadium.
The ownership group consists of El Pasoans Woody L. Hunt, Chairman of Hunt Companies, Inc., and Paul L. Foster, Executive Chairman of Western Refining, Inc. Other members are Alejandra de la Vega Foster, President of Almacenes Distribuidores de la Frontera, and Joshua Hunt, Senior Vice President of Hunt Companies and Managing Director of Hunt Holdings.