Last week Rhode Island and we lost a dear friend with the passing of Pawtucket Red Sox co-owner Jim Skeffington. As we come to terms with our grief, we remain committed to the fulfillment of his dream: a beautiful, state-of-the-art, multi-purpose, well-located ballpark near the heart of downtown Providence. To that end, I recently wrote to the elected officials of Rhode Island. As we renegotiate our proposal and seek to restructure our public-private partnership, it is incumbent on the negotiators (and the public) to recognize the relative benefits that will accrue both to the public and private sectors if this transaction is to be properly structured.

-Affordable family entertainment: A ballpark that serves all of Rhode Island, accessible by car and by rail, preserves and expands affordable, intergenerational family entertainment. To that end, “The Mondor Family Plan” is our pledge to keep at least 25 percent of the new ballpark’s prices at $8 or less through its first five seasons, and also to continue discounted ticket pricing for children and adults at the new park. Affordability, a key to Ben Mondor’s success, is a value we commit to honor.

-A catalyst for re-development: Providence has a rare opportunity to develop underperforming land. The proposed project is more than a ballpark; it is a catalyst for re-development. In the heart of downtown, this project will inspire private investment in biotech, retail, hotel, restaurants and residences.

-Economic stimulation: The ballpark will draw fans and tourists from New England and beyond. It will stimulate our economy with new direct spending that credible economists, B&D Venues, have estimated at $14.9 million annually. This estimate doesn’t even include indirect spending. A ballpark is a rare gem that can serve as an anchor tenant for a downtown neighborhood.

-Tax generation: It is good for the city and good for the state to convert a tax drain into a tax gain. Using languishing land, we can add more than $2.5 million annually to Rhode Island’s revenues. That’s more than double the estimated $1.2 million in taxes currently paid from McCoy Stadium.

-New jobs: The design, construction, and operation of a summertime ballpark with year-round uses creates jobs, particularly for businesses that surround the ballpark. Rare is the magnet that attracts anywhere from 600,000 to 1 million customers annually.

-An urban asset: At the mouth of the Providence River, this beautifully-designed ballpark would be a beacon of welcome, a new “front door.” Such an asset is rare, and it can fulfill long-desired urban planning dreams. Just imagine a gleaming world-class riverfront and river walk.

-A vibrant downtown: Throughout America, downtowns are either assets or liabilities. Vibrant downtowns that attract businesses and residents are desirable. This ballpark would contribute to a beautiful new downtown neighborhood by the river, a wonderful place to work, to live, and to enjoy wholesome, affordable entertainment. We have experience making such dreams come true.

-Public gathering place: We have witnessed how Fenway Park has served as a public gathering place, uniting a diverse regional population — both for sports and for communal convocations. Accessible from all over Rhode Island, this outdoor ballpark can fulfill a similar purpose for the state.

-Preserving professional baseball: We seek to keep professional baseball in Rhode Island, and a new ballpark, with a long-term commitment to stay, protects Rhode Island’s great baseball traditions that date back over 136 years to the National League's Providence Grays of 1878. It is a commitment that outlasts all of us — and a gift for future generations.

-A year-round, multi-purpose park: A beautiful venue that accommodates sports, concerts, events and even a verdant park will have year-round activity. Just imagine events for Brown and University of Rhode Island football, Bryant athletics, amateur and scholastic baseball, fireworks, and hockey games. It’s a draw that supports small businesses year-round.

-Charitable impact: A PawSox franchise in Rhode Island benefits all its citizens. Being active participants in the community is a tenet of our ownership. In Boston, our Red Sox Foundation has distributed more than $75 million to charities and programs since its creation, in 2002. We intend to sustain the commitment to Pawtucket, and enhance our philanthropic reach throughout the city and state.

-Growth potential: As we now propose a joint venture of at least 30 years, we envision a structure to grow revenues for Rhode Island. The Red Sox are in it for the long haul. Together, we have a golden opportunity to provide public benefits in and surrounding a beautiful, new, state-of-the-art, multipurpose ballpark by the river. It’s good for the heart of the city; it’s good for the heart of Rhode Island.

We invite you to join us on this journey. We believe your children and your grandchildren will thank you.

Larry Lucchino is chairman of the Pawtucket Red Sox and president/CEO of the Boston Red Sox.