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The special convention center commission working on financing for Boston's megaplex began presenting their findings to state officials yesterday according to this morning's BOSTON HERALD. Briefing House Speaker Charles Flaherty, Senate President William Bulger and Gov. William Weld, the commission is hoping to convince the lawmakers their financing plan is "real and viable" (Phil Primack, BOSTON HERALD, 6/1). Today's recommendations "will be supported" by a plan to secure $2 of private investment for each $1 required in annual public debt payments. The building of the megaplex hinges on two conditions: adequate financing and that the project not adversely effect its South Boston location. The Committee thinks the financing is there, but South Boston reaction is still unclear. The financing will count heavily on corporate investors and a number of fees, including a hotel fee. Weld is to meet with top officials of ITT/Sheraton later this week to discuss a possible investment (Meg Vaillancourt, BOSTON GLOBE, 6/1).
The Twins have asked the Metropolitan Sports Facilities Commission (MSFC) to "stop" any Metrodome remodeling efforts until "the future of our tenancy is determined," according to the Minneapolis STAR-TRIBUNE. Twins Operations VP Matt Hoy: "Until the bigger issues or challenges facing the Twins organization are addressed, we're not in support of this project." MSFC was planning to construct a $3.6M outdoor plaza, the initial phase of a "wide-ranging" improvement. The Twins want MSFC to address such issues as adding more seats. MSFC Exec Dir Bill Lester said the commission does not need the Twins' permission and will vote on the issue as early as June 21. Even though the Twins pay no rent at the Metrodome, Twins President Jerry Bell has begun exploring other stadium possibilities as the team can exercise an escape clause after the '98 season (Jay Weiner, Minneapolis STAR- TRIBUNE, 6/1).