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. Allegheny County public works director leaves job
  2. Beaver DA believes girls might have lived had dad responded faster
  3. Rossi: Johnston must reach Malkin in Moscow
  4. Steelers are in familiar territory going into training camp in Latrobe
  5. Man tries to lure teen into white van in Hempfield, police report
  6. Retail theft attempt turns violent in Monroeville store parking lot
  7. New Penguins coach to meet with Malkin
  8. Interest high for Heinz Field soccer match between top Euro teams
  9. Uber, Lyft get tentative PUC permission to operate in Allegheny County
  10. Gateway School District gets a little more clear on backpack policy
  11. Beaver County deputy ordered to stand trial for obstruction, false swearing
Subscribe today! Click here for our subscription offers.