SBD/14/Facilities Venues

MARYLAND FACES ITS OWN DEADLINE FOR BROWNS' MOVE APPROVAL

     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).
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Cleveland Browns, Facilities, NFL

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