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. Steelers notebook: Injury to RT Gilbert opens door for Adams to start
  2. Black Friday trends, tactics change, but Americans still love bargains
  3. Light of Life offers ‘More Than A Meal’ Thanksgiving event
  4. District college game of the week: Washington & Jefferson at Mount Union
  5. Stakes high as ex-Saints receiver Moore faces his former team
  6. Researchers at Pennsylvania’s top universities take to the web to fund projects
  7. Gridiron nomad Christian makes last collegiate stop at WVU
  8. Allegheny County Council wants to hike members’ $3K expense accounts
  9. Pitt receiver Boyd continues to grow on and off the field
  10. Company seeks to reopen coal mine in Nottingham, Washington County
  11. Stock forecast for 2015: milder gains, more bumps
Subscribe today! Click here for our subscription offers.