SBD/2/Facilities Venues

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  • BREWERS PLAN STARTING TO TAKE SHAPE

         While terms of the Milwaukee business community's $14M in
    pledged assistance toward a Brewers stadium continue to be
    "hammered out," Northwestern Mutual Life and Johnson Controls --
    the largest private and public companies in the state -- are
    ready to participate, according to the MILWAUKEE JOURNAL
    SENTINEL.  Meanwhile, funding from the city in the form of a $15M
    loan is also coming together.  The exact structure of the loan is
    still unclear, but one scenario has the city borrowing the $15M
    and funneling it to the city Redevelopment Authority.  The
    Authority would then pass the money over to a non-profit
    corporation, which would loan it to the Brewers.  A resolution
    endorsing the loan will be introduced at the next Council meeting
    on July 12 (MILWAUKEE JOURNAL SENTINEL, 7/2).  Meanwhile, the
    five-county sales tax approved by the WI Legislature last fall to
    pay for $160M of the stadium's $250M price tag is now expected to
    bring in $24.8M by June '97 -- 13% more than originally
    anticipated (MILWAUKEE JOURNAL SENTINEL, 7/2).
    

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  • FINANCING TENTATIVELY APPROVED FOR NORTHERN VA'S BID

         The VA General Assembly's Joint Legislative Subcommittee for
    Stadium Financing has tentatively approved a $300M "blueprint" to
    build a baseball stadium in Northern VA.  Team ownership would
    pay up to 1/3 of the cost, either up front or in annual lease
    payments, while a state lottery is expected to bring in an
    additional $14M a year.  Another $4M a year would be obtained
    from various sales, corporate, income and franchise taxes
    collected from stadium operations over 30 years.  No new taxes
    would be imposed.  Virginia Baseball Exec VP Michael Scanlon
    called the vote a "grand slam" for the group, which is seeking to
    buy a team and move it to the area.  Scanlon predicted the full
    Legislature will hold off voting on the package until they are
    closer to buying a team (THE DAILY).  One "major detail" to be
    determined is whether taxpayers or the team will pay if lottery
    or stadium revenue is less than expected, according to Spencer
    Hsu of the WASHINGTON POST.  Meanwhile, lawmakers stressed they
    were giving the "minimum necessary support" to Virginia Baseball
    as they head to the All-Star Game to lobby owners to support
    their bid.  Scanlon said the financing plan "ought to get some
    attention" (WASHINGTON POST, 7/2).
         SITE-SEEING:  A source familiar with the process says at
    least eight new sites have been proposed.  The VA Baseball
    Stadium Authority hopes to pick a "preferred site" by October
    (Spencer Hsu, WASHINGTON POST, 7/2).
    

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  • REDS' RIVERFRONT RENOVATION WOULD MEAN TAX ROLLBACK

         If the Reds choose to renovate Riverfront Stadium instead of
    building a new ballpark, Hamilton County residents would receive
    a sales-tax rollback, according to the CINCINNATI BUSINESS
    COURIER.  County Commission President Bob Bedinghaus refused to
    confirm that renovation is still an option for the Reds, but he
    said that such a choice would lead to an "early end" for the
    half-cent sales tax increase approved by voters on March 19.
    Sources close to the situation say that renovation would not
    require the Reds to make any financial contribution, but that the
    club would be expected to invest $25-30M in a new facility
    (Steven Goodin, CINCINNATI BUSINESS COURIER, 7/1).
         SCHOTT INVOLVED:  Despite her ban from the club's daily
    activities, Reds Owner Marge Schott will play a "dominant role"
    in any stadium decisions, according to the team.  Reds
    spokesperson Charles Henderson says Schott continues to have
    "input" into the stadium process, noting:  "The people in New
    York made it clear that she can serve in an advisory capacity"
    (CINCINNATI BUSINESS COURIER, 7/1).
    

    Print | Tags: Cincinnati Reds, Facilities
  • STADIUM NOTES

         Joe Robbie Stadium President Bob Kramm says that American
    Airlines and Huizenga Holdings are "on course" to rename the
    facility.  American Airlines Stadium or American Airlines Joe
    Robbie Stadium are possible name choices (MIAMI HERALD,
    7/2)....Richard Sandomir of the N.Y. TIMES examines the Islanders
    "understandable yen" for a refurbished Nassau Coliseum or new
    arena, noting:  "When you're in a dingy 24-year old joint with a
    lousy lease, it's easy to suffer from arena envy" (N.Y. TIMES,
    7/2)....A group called "Neighbors of Dodger Stadium" has obtained
    2,000 signatures objecting to a football stadium near Chavez
    Ravine (USA TODAY BASEBALL WEEKLY, 6/26 issue)....Ice Palace GM
    Bob Rice says there "simply are no negatives" about progress on
    the arena's construction and future booking schedule.  The
    facility is expected to be hockey-ready for the Lightning's home
    opener in October (TAMPA TRIBUNE, 7/2)....Fueled by the opening
    of the Ice Palace and the reality of Devil Rays baseball at the
    ThunderDome in '98, a commuter ferry service between St.
    Petersburg and Tampa could be operating by early next year (TAMPA
    BUSINESS JOURNAL, 7/1).....Fort Lauderdale's failed bid to become
    home to the Panthers' new Broward County arena cost the city
    almost $60,000.  The total cost of the project was nearly
    $90,000, but the Panthers have reimbursed the city $36,373.  Fort
    Lauderdale Mayor Jim Naugle:  "That was pouring money down a rat
    hole" (MIAMI HERALD, 7/2).
    

    Print | Tags: American Airlines, Facilities, New York Islanders, Palace Sports & Entertainment, Tampa Bay Lightning, Tampa Bay Rays
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