Reds Upgrading GABP Ahead Of All-Star Game ESPN Draws Lowest "MNF" Rating Of '14 2014 Reader Survey: NFL Flames Close To Arena Announcement? Bills Say Stadium Will Be Ready For Sunday Vegas Arena Could Be First With Retractable Roof Univ. Of Nevada Proposes Mackay Upgrades NFL Franchise Notes Facility Notes NFL Fans Want Scores On Mobile Devices
MARYLAND FACES ITS OWN DEADLINE FOR BROWNS' MOVE APPROVAL
Published December 14, 1995
Building a new stadium for the Browns in Baltimore could cost the state an additional $36M in interest over 30 years of the NFL fails to approve relocation "early next year," according to this morning's Baltimore SUN. If a scheduled January 17 vote is delayed or rejected -- and then appealed in court -- the sale of $87M worth of bonds could be pushed back. With proposed changes in tax laws possible that would make the bonds taxable, higher costs could kick in after February. Maryland bonds, backed by lottery revenues, are a key source of financing for the $200M stadium, the Stadium Authority's financing plan assumes tax-free bonds (Jon Morgan, Baltimore SUN, 12/14).