Avaya-Earthquakes Deal Worth $20M Renovated Citrus Bowl Open For Business Mavericks Installing High-Tech Camera System Facility Notes Mets Will Move In Citi Field Fences Bucks, UWM Meet About Future Of Panther Arena No Practice HQ Imminent For Mavs Mayor-Elect To Re-Work DC United Stadium Deal Univ. of Hawaii Proposes Naming-Rights Sales Sources: Krafts Planning Boston Soccer Stadium
MOYNIHAN PROPOSAL UNSETTLING TO CLEVELAND
Published June 28, 1996
The proposal from Sen. Daniel Patrick Moynihan (D-NY) that would prohibit state and local governments from issuing tax- exempt bonds to build stadiums "worries Cleveland officials" because the financing package for rebuilding Municipal Stadium, which will require selling $140M in bonds later this summer, may "have to be overhauled." The Cleveland PLAIN DEALER's Phillips & Diemer report questions remain over when the bill, if passed, becomes effective, though Moynihan said he is willing to consider "the need for equitable relief for stadiums already in the planning stages." Cleveland City finance director Kathryn Hyer: "There already is a lot of substantial work that we believe qualifies us for being well into the `planning stage.'" Sen. Mike DeWine (R-OH) said the bill has "zero chance" of passing and a spokesperson for Senate Majority Whip Don Nickles (R-OK) said the bill is not "on the radar screen" of the GOP leadership (Cleveland PLAIN DEALER, 6/27). HEAR YE: A USA TODAY editorial notes Nashville's decision to put its $60M stadium bond sale on hold in wake of Moynihan's bill: "If local communities want to waste their own money, that's up to them" (USA TODAY, 6/28).