Some Cowboys Fans To Walk More Than One Mile To New Stadium
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Cowboys Constructing Parking
Plan For New Stadium |
The Cowboys estimated that some season-ticket holders "will walk nearly a mile from their parking spaces" to the team's new $1.1B stadium in Arlington, Texas, according to Jeff Mosier of the DALLAS MORNING NEWS. But team officials indicated that the distance "shouldn't be an adjustment because the back-row parking at Texas Stadium in Irving is about the same distance." Overall, the team "expects to have about 30,000 parking spaces within a mile of the new stadium, which is nearly double the number near" Texas Stadium. Of the total parking, "only about 12,000 spaces will be at the new stadium," meaning the Cowboys "must rely on their neighbors -- Six Flags Over Texas, the Texas Rangers and privately owned office parks and shopping centers -- to make sure there's enough asphalt to go around." Cowboys officials said that parking at those facilities is included in the 30,000 figure. Arlington Deputy City Manager Trey Yelverton said that the Cowboys lots "plus a similar number of spaces at Rangers Ballpark in Arlington should accommodate most fans." However, the Rangers and Cowboys "are talking about how that would work." Cowboys Dir of Corporate Communications Brett Daniels said that "part of the negotiations involve how the parking money would be split." Daniels: "We fully expect to utilize that parking. It's just a matter of working with the Rangers now on the mechanics of how that's operated and who's controlling it on game day." Yelverton said that "because the Cowboys and Rangers will share parking, it could present a conflict." Yelverton said that there "will be an effort to coordinate with the leagues about scheduling, but there are no guarantees." Meanwhile, Daniels said that the Cowboys also intend to "negotiate with Six Flags about using some parking” (DALLAS MORNING NEWS, 6/29).
BOND PROBLEMS: Arlington officials Friday said that the city is "paying more than expected on Cowboys stadium debt after rating agencies downgraded one of its bond insurers because of debt risk." In Ft. Worth, Susan Schrock wrote fees have gone up on $164M in bonds insured by MBIA Inc., which was "downgraded from AAA to AA by three agencies." The bonds have a "low fixed interest rate, 4.3[%], but they also have variable fees tied to market conditions." Yelverton said that the city is "considering switching to another insurance agency with a higher credit rating or financing the bonds differently at a fixed interest rate with no variable fees" (FT. WORTH STAR-TELEGRAM, 6/28).
SIGN OF THE TIMES: The AUSTIN BUSINESS JOURNAL's Kate Harrington reports Austin-based Sign Tech Int'l has inked a $1.2M contract to "do the exterior singage for the new" Cowboys stadium (AUSTIN BUSINESS JOURNAL, 6/27 issue).
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