SBD/July 12, 2013/Facilities

Facility Notes

In Boston, Mark Arsenault cited sources as saying that Suffolk Downs and the City of Boston "have agreed on the framework of a deal that will allow the track’s casino project to move forward to a referendum vote." The deal will be the state’s "richest casino host-community agreement to date, with payments to Boston dwarfing the $25 million annually that a rival developer, Wynn Resorts, has agreed to pay" to Everett, Mass. (BOSTON GLOBE, 7/11).

WORD IS BOND: In St. Louis, David Hunn reports St. Louis Regional Convention & Sports Complex Authority board Thursday "unanimously approved" a resolution to refinance bonds for the Edward Jones Dome. If bond rates "do not rise too much higher, the refinancing should close in August." The move "should save the state of Missouri about $8 million and St. Louis County about $4 million, and earn as much as $300,000 for the Dome itself" (ST. LOUIS POST-DISPATCH, 7/12).

ALL IN THE FAMILY: In Detroit, Louis Aguilar cites sources as saying that there is a "good chance much of the $200 million of development intended to be built around" the new Red Wings arena "could end up on land controlled" by team Owner Mike Ilitch. Public records show that "much of the property is clustered behind Ilitch’s Fox Theatre headquarters between Grand River and Grand Circus Park." A "good deal of that land is surface parking lots and empty historical buildings, which has made the Ilitch organization the target of criticism through the years for sitting on the property" (DETROIT NEWS, 7/12).
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