Officials in Malden will officially sign off on a letter of intent for a 6-acre parcel to be developed into an Independent League baseball park, according to an announcement from the city.
Mayor Gary Christenson will be joined by Attorney General Martha Coakley and US Congressman Ed Markey (D-Malden) Monday afternoon at Malden Government Center for the signing, according to the announcement.
In November, the Malden Redevelopment Authority board voted 4-0 to authorize its executive director to sign a letter of intent with National Grid and Boston Baseball Field of Dreams LLC, the development group behind the project, to build a $50 million stadium on the site of a former National Grid facility on Commercial Street. The agreement calls for a 40-year lease on the land, but financial terms have not yet been disclosed.
Coakley and the Department of Public Utilities must sign off on the agreement because it involved land owned by National Grid.