Astros Owner Drayton McLane signed an agreement with Harris
County Judge Robert Eckels, Houston Mayor Bob Lanier and Enron
Corp. President Richard Kinder -- representing private business
interests -- to build a $265M, 42,000-seat, retractable-roof
domed stadium on the east side of downtown Houston, according to
John Williams of the HOUSTON CHRONICLE. The deal, which must be
approved by voters in a November 5 referendum and the TX
Legislature, would keep the club in Houston another 30 years
after the park opens in 2000. The financing plan, a joint
venture between public and private interests, will have the
Astros paying 14% -- or $3.3M annually, $180M raised from a
countywide rental car tax, a limited downtown parking tax and
state sales and liquor taxes generated in and around the stadium.
Private funds will provide the remaining $85M. Of that,
approximately $35M will come from the team. In return, McLane has
promised not to negotiate with any potential buyers who would
move the team, unless the referendum is rejected or the
Legislature rejects certain financing plans. As part of the
deal, Harris County will pay $15.5M over the next three years to
buy McLane's lease at the Astrodome. In addition, the county
will pay McLane $1.5M for improvements he has made to the
facility. Cost overruns, which had been a "sticking point in
negotiation," will be guaranteed by the firm which wins the
construction contract. Eckels also said if the referendum
passes, the county will spend $200M to update the Astrodome for
the Houston Livestock Show and to attract another NFL team
(HOUSTON CHRONICLE, 9/15).
SURVEY SAYS: A HOUSTON CHRONICLE poll of 417 registered
Harris County voters conducted on September 11-12 -- prior to the
stadium agreement was reached -- reveals that referendum
supporters could face an "uphill battle" in winning approval.
The survey showed that 43% oppose public funding of pro sports
facilities, while 38% support it. When asked to name the Astros'
biggest liability, 27% said lack of interest in baseball in the
Houston area and 26% said McLane. 33% said they would attend
more Astros games if a downtown ballpark were built (HOUSTON
CHRONICLE, 9/15). VA BASEBALL REGROUPS: In Washington, Maske &
Lipton report VA Baseball Inc. will now turn its attention to the
Pirates and Expos, the only two clubs the organization believes
are candidates to be bought and moved by the '98 season. VA
Baseball's William Collins: "There will come a point in time
where none of us has any interest in pursuing it anymore. I
would not commit to waiting for the next round of expansion. No
one in baseball has determined for sure when, if and where and
how it will occur." Meanwhile, VA Rep. Vincent Callahan, the Co-
Chair of the legislative committee that developed the financing
plan for a proposed $300M stadium in Northern VA, says he does
not advocate introducing the bill in the VA Legislature until an
actual team is identified (WASHINGTON POST, 9/15).
