LAFC Mulls HQ, Complex In Tustin Beaver Stadium Capacity Likely To Get Smaller Seahawks/Sounders Looking For Naming Rights Turner Field Area Could Become College Stadium Kentucky Scores Big With Luxury Football Seating Redskins Sell Naming Rights For Team HQ Sources: Isles In Talks For Arena At Belmont Park Facility Notes Islanders Potential Arena Near Citi Field? Chargers Dive Into Convention Center Possibilities
SBD/November 12, 2013/Facilities
Support, Financing For New Richmond Ballpark In Question As Details Are Unveiled
Published November 12, 2013
MUSIC CITY MONEY: Nashville city officials yesterday announced that the total cost of the Triple-A PCL Nashville Sounds' new ballpark "will be about" $150M. In Nashville, Scott Harrison reported the city will pay $65M "as part of the project's public-private partnership." The Metropolitan Nashville Sports Authority BOD "approved a resolution to issue" $65M in revenue bonds "to fund the project, which would be repaid by the city over 30 years." That issuance will "need to be approved by Metro Council, which is scheduled for its first reading of the ballpark agreement on Nov. 19." City Finance Dir Rich Riebeling yesterday said that the council would pay $4.3M annually "to repay the debt." He projected that after revenue from the new park, the project "will cost the city $345,000 annually." Riebeling said that the city is "seeking to finalize the deal before the end of the year" in order to open the ballpark in the spring of '15 (BIZJOURNALS.com, 11/11).