It seems the city owns Smith-Wills. They could demo it whenever they want.
And I’m certain there is a local high school or intramural field that could easily accommodate the 37 people who attend Belhaven baseball games. They certainly don’t require a 5,200 seat AA stadium.
I think there's some handshake agreement in place between the city and state... I don't remember the details, but the state has said even if you demo it, it has to be a recreational use or something. So, if there's no money to be made, no one really wants to foot the bill to tear it down and build something else.
There is some action in that area, though. The Children's Museum has considerable weight and political power, and they're using it to raise money and try to do some good things. They have/are expanding the museum, building a multi-use trail, etc., then the plan is to build a skywalk over Lakeland and connect the museums and Smith-Wills land on the north side. Not sure what will happen with the stadium, but maybe that will help.