This won’t get a lot of play with the Royals bringing postseason play to Kansas City for the first time since 1985, but it should: debt refinancing on Kauffman and Arrowhead stadiums will save Jackson County $32 million. (more…)
Tag Archives | bonds
Reno withdraws funding plan for Aces Ballpark
Elections have consequences: the new majority on the Reno City Council voted to rescind a deal paying $1 million annually for 30 years to address debt on Aces Ballpark, home of the Reno Aces (Class AAA; Pacific Coast League). The vote wasn’t close — 6-1 — and it came after new members of the City […]
Washoe County balking at Aces ballpark subsidy
The effort to bring lots of public money to paying down Aces Ballpark, home of the Reno Aces (Class AAA; Pacific Coast League), hit a snag after Washoe County officials put the brakes temporarily on a request for $15 million. The Reno City Council has already committed $30 million over 30 years (out of general […]
Reno preliminarily approves ballpark bailout
The threat by Reno Aces (Class AAA; Pacific Coast League) owner Herb Simon worked: the Reno City Council preliminarily approved a plan to refinance a $55-million Aces Ballpark construction debt. A final vote is scheduled for Nov. 7; it’s expected to go the same way unless something changes. The city would use general funds, to […]
NYC still grappling with white-elephant parking ramps at Yankee Stadium
A plan to tear down unprofitable parking ramps near Yankee Stadium has collapsed, leaving New York City to basically wait for the parking vendor to default on $240 million in bonds. When Yankee Stadium was planned, the decision was made by Bronx Overall Economic Development Corporation to back parking ramps near the ballpark, with the […]
Attempt to refinance Tulsa ballpark debt thwarted by foes
An attempt to refinances ONEOK Field debt has been blocked by opponents of the downtown assessment district paying down debt on the home of the Tulsa Drillers (Class AA; Texas League). It is a unique situation, one that requires a little backstory. When it came time to pay for ONEOK Field, city officials set up […]
Status quo reigns in Memphis
Though there’s been chatter about the Memphis Redbirds (Class AAA; Pacific Coast League) being on the market, nothing is on the horizon, says John Pontius. Pontius is treasurer of the Memphis Redbirds Foundation, and he’s been pretty forthcoming about efforts to sell the team and AutoZone Park; a sale to parent St. Louis Cardinals fell through several years ago, […]
City, Cubs finalizing terms of Wrigley Field renovations
In a surprising assertion, Chicago Mayor Rahm Emanuel says his city is close to a deal with the Chicago Cubs to help fund renovations to Wrigley Field. Cubs owner Tom Ricketts has repeatedly called for city or state help in renovating the Chicago landmark, which will be 100 years old in 2014. He’s pitched a […]
State Comptroller: Ramapo skirted laws in financing new ballpark
Ramapo (N.Y.) misused local development funds in financing Provident Bank Park, home of the Rockland Boulders (independent; Can-Am League), and will have difficulties in covering debt service on the facility, according to a draft audit from the state comptroller’s office. The draft, which will be final after Ramapo officials have a chance to respond. says […]
Manchester struggles with ballpark debt
Despite projections that revenues from a new Manchester, N.H. ballpark for the New Hampshire Fisher Cats (Class AA; Eastern League) would be enough to cover debt, they’re not, so residents are paying the difference. When planned in 2006 and 2007, debt service for Northeast Delta Dental Stadium was projected to be covered by rent from […]