A feasibility study carried out by Baker Tilly last year had recommended a number of steps that could help the authority deliver on its plans for a new baseball stadium as well as a wider regeneration known as the Jackeys Creek Development.
P3 was included as a potential option for the development, alongside alternative financing structures.
However, at its latest meeting, the town council has decided not to enter into a P3 deal with the developer proposing the new stadium and surrounding plans, REV Entertainment.
“There are many additional questions that still need to be addressed regarding the proposed project,” the council said.
Nonetheless, the authority added that there is “hope” that the conversation will continue in the future, adding that it “continues to be open to ideas, creative projects, innovative developments, public-private partnerships, and other unique proposals”.