TribLIVE

| News


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

RAD to hold public hearing on bond for stadium expansion

Email Newsletters

Click here to sign up for one of our email newsletters.

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Stories

  1. Rossi: Rutherford falling apart, too
  2. Armstrong County Health Center celebrates decades of care
  3. Armstrong Junior-Senior High School to receive National Day of Prayer blessing
  4. Behind starter Liriano, Pirates complete sweep of Diamondbacks
  5. Henry: Job and education fair slated for Wednesday in Connellsville
  6. Washington’s Shelton grows into big role, looks forward to draft
  7. Coach Johnston trying to figure out why Penguins ‘fell off a cliff’
  8. Pirates notebook: Wainwright injury doesn’t sway Hurdle on DH
  9. Injured Penguins optimistic about returning next season
  10. NASA head tells Pitt grads their generation will ‘walk the face of Mars’
  11. Protest planned Monday at Plum Borough High School