THE LEASING OF PITTSBURGH: AUTHORITY APPROVES STADIUM DEALS

          Four members of the Pittsburgh Public Auditorium
     Authority approved "detailed memorandums outlining proposed
     leases" with the Pirates and Steelers for 29 1/2 years,
     according to Tom Barnes of the PITTSBURGH POST-GAZETTE. 
     Pittsburgh City Council member Dan Cohen "abstained on the
     vote, complaining that some of the terms weren't tough
     enough financially" on the teams.  Barnes writes that the 29
     1/2 year length of the leases is "just short enough for the
     teams to avoid having to pay about $7 million each in real
     estate transfer taxes."  City officials said that leases of
     30 years are considered property sales, for tax purposes,
     and a transfer tax is due.  Public Auditorium Authority Exec
     Dir Stephen Leeper said the cost of both facilities have
     increased: PNC Park will cost $209M, up from the original
     $184M projection, and the Steelers stadium will cost $211M,
     up from $192M.  The total cost of each project, after
     "additional expenses" such as demolition and buying
     additional property, will be $250M (POST-GAZETTE, 10/27).