A special event hosted by long-time Los Angeles Dodgers announcer Vin Scully marked last week’s groundbreaking for a baseball spring training facility in Glendale that will accommodate the Dodgers and, eventually, the Chicago White Sox. The Glendale Municipal Property Corp. will issue revenue bonds to finance the $80.7 million facility. The debt will be supported by annual allocations from the Arizona Sports and Tourism Authority and by sales taxes generated on site and at a planned development around the ballpark. The AZSTA pledged in December 2006 to finance two-thirds of the project in the Phoenix suburb, but it won’t be able to begin paying debt service until 2018. Glendale eventually will get more than $50 million for the training complex from the authority. The Dodgers will move into the facility from their current spring training site at Vero Beach, Fla., in 2009 if construction is completed in time, or in 2010 at the latest. The spring training complex will include a 13,000-seat stadium with 3,000 lawn seats, two major league fields and four minor league fields per team, workout fields, a large clubhouse, and parking for 5,000 vehicles. The White Sox currently train in Tucson under a 15-year contract with Pima County that expires in 2013. The team can move to Glendale before then if it pays $28 million to break the lease or finds a replacement team for Tucson Electric Park.
-
The commission also made changes to planned Louisiana State gas and fuel tax bonds of up to $1 billion
1h ago -
High-yield muni issuance totals $20 billion year-to-date, "reflecting normalization from relatively depressed levels in 2023 ($7.6 billion over the comparable period), and now virtually equal to the trailing five-year average for the period ($20.1 billion)," said J.P. Morgan strategists, led by Peter DeGroot.
2h ago -
Mayor Eric Adams was indicted on federal bribery, campaign finance and conspiracy charges, the U.S. Attorney's Office announced Thursday.
2h ago -
The privately placed taxable bonds to be issued through Bernalillo County will help finance a manufacturing facility for Ebon Solar.
4h ago -
"The market is strong right now, and we expect that to continue into next year," Loop's head of public finance Bo Daniels said.
5h ago -
The continuing resolution to keep the government funded was passed without the inclusion of controversial legislation requiring proof of citizenship in order to vote.
5h ago