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CENTENNIAL CELEBRATION ON HOLD AS $25M GAP STILL REMAINS

          In Raleigh, NC, Centennial Authority members yesterday
     announced an agreement that "places a cap on the
     skyrocketing price of" the city's new sports arena, which
     will house the Hurricanes beginning in '99, according to
     Laurie Willis of the Raleigh NEWS & OBSERVER.  The Authority
     also "nailed down a promise" to have the facility finished
     by September 1, 1999.  But Willis writes that "there's a
     catch to both," as the Authority must come up with $25M by
     October 1, "a mere 70 days away, to lock in the cost" at
     $157M.  Although Authority members "didn't have a firm plan"
     yesterday as to how they will come up with the $25M, Exec
     Dir Curt Williams "reiterated" that the board will ask local
     and state governments, as well as NC State Univ., "to make
     up the difference."  Williams said that he is "optimistic"
     that those partners "will choose to participate," but
     Raleigh Mayor Tom Fetzer "didn't seem willing" yesterday. 
     Fetzer, on the Authority: "I don't think they have any
     credibility left with the taxpayers or their elected
     officials."  Wake County Commissioner Les Merritt also
     encouraged the Authority to "try harder to find" the $25M. 
     Merritt: "They ought to look at more creative ways than
     coming back to the taxpayers" (NEWS & OBSERVER, 7/22).

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