RED SOX Attempt To Make FENWAY PARK A Historical Landmark

(From Sports Business Daily)

THE RED SOX have applied for LANDMARK STATUS for FENWAY PARK,
"a move that could SAVE THEM MILLIONS OF DOLLARS IN RENOVATION COSTS by making the team eligible for FEDERAL TAX CREDITS," according to CHRIS REIDY of THE BOSTON GLOBE.

A building granted landmark status by THE NATIONAL PARK SERVICE
"can be eligible for A REHABILITATION TAX CREDIT that 'EQUALS 20 PERCENT OF THE AMOUNT SPENT IN A CERTIFIED REHABILITATION OF A CERTIFIED HISTORIC STRUCTURE.'"

SMITH COLLEGE sports economist ANDREW ZIMBALIST added that landmark status "also could GIVE THE RED SOX A GREATER SAY in how development unfolds OUTSIDE FENWAY PARK."

RED SOX Vice President/Planning and Development JANET MARIE SMITH "could not put a dollar value on what rehabilitation tax credits might be worth to the team." But Reidy notes the tax credit "COMES WITH STRINGS ATTACHED." Once the building has been declared A LANDMARK, the owner "MAY HAVE LESS FLEXIBILITY IN MAKING FUTURE CHANGES."

Real estate attorney LAWRENCE DICARA -- "It can limit what you can do going forward."

To DiCara's knowledge, no other MLB team has obtained landmark status for its ballpark.