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

By Bill Zlatos
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. Big plays cost Steelers defense in 43-19 preseason loss at Bills
  2. Solarize Allegheny powers up with communities
  3. Architecture: Pittsburgh history in 10 houses
  4. Gameday: Pirates vs. Rockies, Aug. 30, 2015
  5. Record golf ball collection drives Connellsville native
  6. Newsmaker: Tamika Duck
  7. Historic WWII-era landing ship tank docking at Heinz Field
  8. Pa. Game Commission wants fee hikes, must convince sportsmen to buy in
  9. Cooking Class: Grilled Escarole Salad at E2
  10. Quick grilled chicken doesn’t skimp on flavor
  11. Road Trip! Destination: Cincinnati