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As was the case for the first two years of debt payments, the saving grace for the current fiscal year 2023 and the next fiscal year 2024 is a $3-million property sale from 2021.
Revenues from Polar Park will not cover Worcester's debt payments this year or next year, but after that, city projections show that the project will begin to make a profit.
Completion dates for the office and hotel buildings in Madison Properties’ development across the street from Worcester’s Polar Park stadium have been pushed back another year. The new timelines for the two buildings were reported in a financial analysis of the City from Fitch Ratings Inc., a New York credit rating agency, as part of an assessment of the City of Worcester's financial situation to rate the City's bond offerings.
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The Worcester Red Sox are facing financial issues and the City of Worcester is behind in making payments on the stadium, according to reports.