Even though site tests have begun at the location of the
proposed Brewers ballpark, a split remains over whether a
financing deal for the facility is moving forward, according to
the MILWAUKEE JOURNAL SENTINEL. Kenneth Lamke reports, while top
state, stadium board and club officials say the plan is "pulling
together," others involved in the process believe there are
"rumblings" of potential trouble. Unnamed sources say there are
at least two problems with the deal: NationsBank, the Brewers'
lead institution, still has not explained how its promise to
share the team's collateral will work so that a bond-financed
$50M loan can be made; and there may not be enough buyers for the
WI Housing and Economic Development Authority issued bonds even
if the collateral questions are answered. Carl Mueller, a PR
specialist employed by the Brewers, said he was told that all
information needed by WHEDA had been provided by NationsBank last
week. But, another official responded: "I'm just worried about
it. We're not getting good information. There may be some
problems. Other [lenders] may have to come in and agree to buy a
large chunk of the bonds" (MILWAUKEE JOURNAL SENTINEL, 5/15).
