Cubs Affiliate Expands Ballpark on Minor League Baseball Rebound.

The South Bend Redevelopment Authority in South Bend, Indiana, is selling $41.7 million in lease rental bonds to refurbish the Four Winds Field at Coveleski Stadium, home of the Chicago Cubs' High-A affiliate. The bond offering documents state that the funds will be used to add a second level of seating, a four-story club, an event space building, and updated retail and concession areas, increasing the stadium's seating capacity from 5,000 to 7,500. Despite the challenges faced by minor-league baseball due to the pandemic, the South Bend Cubs have had success in attendance, ranking 39th among the nation's 120 minor league teams. The bonds are backed by taxes levied on all property in the South Bend Redevelopment District and are rated AA with a stable outlook by S&P Global Ratings. The city plans to pay the debt service on the bonds using tax revenue generated by the Professional Sports and Convention Development Area. Construction on the stadium improvements will begin after the season concludes, with the stadium expected to be ready for Opening Day in 2025. [Extracted from the article]