SBD/27/Facilities Venues

FACILITY NOTES

          N.Y. STORIES: NYC Mayor Rudy Giuliani "will consider
     leading a campaign to abolish term limits for City Council
     members" if Council Speaker Peter Vallone "drops his drive
     for a referendum on a new Yankee Stadium (N.Y. TIMES, 5/24). 
     Former NY Gov. Mario Cuomo, who is working as an unpaid
     advisor to Yankees Owner George Steinbrenner, wrote an op-ed
     in the DAILY NEWS under the header "Don't Drive Yanks to New
     Jersey."  He called on city leaders not to rush a referendum
     without the proper study  (N.Y. DAILY NEWS, 5/26).
          OTHER NOTES: Dover Downs Entertainment, parent of Dover
     Downs Speedway and Nashville Speedway USA, is listed among
     BUSINESS WEEK's "Hot Growth Companies."  Due to its "booming
     gaming and motor-sports business at its Dover Downs Complex,
     it has racked up average annual revenue and earnings growth
     of 99.8% and 70.9%, respectively, over the past three years"
     (BUSINESS WEEK, 6/1 issue)...In Chicago, "leading developers
     have dismissed" Bears Owner Michael McCaskey's "talk" of a
     new stadium and hotel/convention center in Elk Grove Village
     outside the city and say "he'll be forced to meet" city
     Mayor Richard Daley's "demand for a lease extension" at
     Soldier Field (CHICAGO SUN-TIMES, 5/24)....In Miami, Cindy
     Krischer Goodman compared the arena deals in Miami and
     Broward County and wrote that Wall Street investors "were
     wowed by just how strong sales" of the Heat's new arena's
     luxury suites have been.  The Heat "is well on its way" to
     rasing more than $13M a year from luxury seating, "double
     the average for a typical single-sports arena."  Aaron
     Barman, Managing Dir of Prudential Securities, which placed
     the $185M in bonds: "We are impressed by the strong levels
     of commitments almost two years before the building is open"
     (MIAMI HERALD, 5/23).  In Ft. Lauderdale, Alan Snel wrote
     that the bond placement is "notable' for its 27-year term
     and 6.7% annual interest -- the lowest rate on record for
     any modern arena (Ft. Lauderdale SUN-SENTINEL, 5/24).

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