2/11 UPDATE:City Council voted Tuesday to approve the bid for a professional baseball stadium in Va. Beach.
The city will soon begin negotiations and discussions to develop a lease for the new stadium.
VIRGINIA BEACH - A 5,000-seat minor league baseball stadium could be coming to Virginia Beach.
Councilman Bill DeSteph said it's still preliminary, but the $50 million stadium project would not cost taxpayer money.
'This could be a home run,' DeSteph said. 'Virginia Beach is a baseball town.'
Virginia Beach resident James Short is leading a group of private investors who plan to fund the multi-million dollar stadium. Their hope is to bring in a team from the Atlantic League.
The stadium would be built outside the Sportsplex on Dam Neck Road.
If approved, construction could start mid-year and be completed by Summer 2015.
The city would spend about $7.5 million to widen Landstown Road and give admissions and tax breaks for 20 years.