State officials in North Carolina have approved plans to borrow money for a new stadium.
Local media reported that the Joint Legislative Government Commission in Raleigh on Tuesday approved plans to borrow up to $38 million for a new stadium in High Point.
High Point University President Nido Qubein says he will soon name an executive board that will manage the design, construction and funding of the event center, children's museum, educational cinema, park and interactive playground that will as part of the stadium project.
High Point city officials have said they can repay the money without raising taxes.
Officials hope to have the stadium running by spring 2019 for the city's new minor-league baseball team, the Atlantic League team formerly known as the Bridgeport, Connecticut, Bluefish.