STADIUM BONDS TO FLOAT IN TAMPA BAY
The Tampa Sports Authority (TSA) decided Wednesday to
proceed with the sale of bonds to pay for a new $168M Bucs
stadium because they "believe they will win their legal war" with
former Tampa Mayor William Poe, according to Joe Henderson of the
TAMPA TRIBUNE. Poe has appealed to stop the stadium deal. TSA
also approved a contract with Huber, Hunt & Nichols to build the
stadium. The contract "calls for an initial guaranteed maximum"
price of $156M on the stadium, plus "about" $12M in architects
fees and other charges. Huber, Hunt & Nichols will receive a $7M
fee which is equal to 4.5% of the project and can earn a $250,000
bonus if the facility is completed by September 19, 1998. The
TSA also paid HOK $4M "to pay back charges owed" the
architectural design firm (TAMPA TRIBUNE, 10/17).