BELOIT—The Beloit City Council on Monday approved a 20-year lease and development agreement with the Riverbend Stadium Authority, the entity tasked with facility and property management of the 3,500 seat ABC Supply Stadium on Shirland Avenue near the Rock River.
“I want to thank City Manager Lori Curtis Luther, city staff, Quint Studer and all involved for their efforts in moving this project forward. This will be great for Beloit,” said Council President Regina Dunkin.
Studer took action last year to acquire the Beloit Snappers and a management agreement for the team was approved in February. The ownership transfer to Studer is on hold until Major League Baseball (MLB) and Minor League Baseball (MiLB) negotiations on a new Professional Baseball Agreement (PBA) is approved.
Beloit businesswoman Diane Hendricks provided a majority of the private funding needed for the $34 million downtown Beloit stadium project.
The project’s development agreement also starts an 18-month timeline for construction by Hendricks Commercial Properties (HCP).
The river bike path will remain in place and be maintained by the RSA but will still be considered public access for daily use.
Construction is expected to start later this month.
, with a stadium authority official saying Monday a groundbreaking ceremony is planned for June 15.