TribLIVE

| News


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

RAD to hold public hearing on bond for stadium expansion

Daily Photo Galleries

Thursday, May 29, 2014, 5:36 p.m.
 

The Allegheny Regional Asset District has until July 3 to hold a public hearing and vote on guaranteeing a $25 million bond for expanding Heinz Field.

After RAD's meeting Thursday, Executive Director David Donahoe said that the Sports & Exhibition Authority asked the agency to guarantee the bond, acting as a sort of co-signer. The debt would be paid back by a portion of Steelers ticket sales. “Any time you back a bond issue, there's a potential risk, but this is very, very, very small,” he said.

The bond would help pay for the $40 million addition of 3,000 seats, a second scoreboard and improvements to the stadium's control room. An exact date for the hearing will be announced.

RAD supports stadiums, parks, libraries and cultural groups with half of the proceeds of an additional 1 percent sales tax in Allegheny County.

 

 
 


Show commenting policy

Most-Read Stories

  1. Zappala impersonator rips off Butler County business, state police say
  2. Shaler’s Schwartz earns WPIAL cross country 3-peat
  3. Parkway West off-ramps at Carnegie to close beginning Friday night
  4. Ferrante defense questions results of cyanide test
  5. Route 22 lane in Derry Township blocked after crash
  6. Amid struggles, top fiscal executive to leave EDMC
  7. Student arrested at Shaler High School in roundup of Allegheny County drug dealers
  8. Education Management removes itself from Nasdaq listing
  9. Steelers’ defense on pace for fewest sacks in 16-game season
  10. Starkey: Century mark beckons for Ben
  11. Duquesne woman charged with fatally stabbing live-in boyfriend
Subscribe today! Click here for our subscription offers.