Source: Raiders Stadium Will Cost $200M Less Golden Knights' Practice Facility To Be Top-Flight St. Louis MLS Investors Hopeful Funding Vote Passes Georgia State Updates Turner Field Construction Rays' Ballpark Site Search Still Complicated Braves Will Help Fans With SunTrust Traffic Raiders' Vegas Stadium Financing Remains Complicated Sacramento, Kings To Refinance '97 Arena Loan Facility Notes Proposal Made To Lift Crandon Park Restrictions
STADIUM BONDS TO FLOAT IN TAMPA BAY
Published October 17, 1996
The Tampa Sports Authority (TSA) decided Wednesday to proceed with the sale of bonds to pay for a new $168M Bucs stadium because they "believe they will win their legal war" with former Tampa Mayor William Poe, according to Joe Henderson of the TAMPA TRIBUNE. Poe has appealed to stop the stadium deal. TSA also approved a contract with Huber, Hunt & Nichols to build the stadium. The contract "calls for an initial guaranteed maximum" price of $156M on the stadium, plus "about" $12M in architects fees and other charges. Huber, Hunt & Nichols will receive a $7M fee which is equal to 4.5% of the project and can earn a $250,000 bonus if the facility is completed by September 19, 1998. The TSA also paid HOK $4M "to pay back charges owed" the architectural design firm (TAMPA TRIBUNE, 10/17).