Thursday, August 19, 2010
Funding Authorized For New Stadium
WEST VIRGINIA....
The West Virginia Economic Development Authority has authorized Brad Burgess, a Lexington, Ky., developer to issue up to $26.5 million in tax-exempt bonds to help finance the first phase of a $250 million project that would include a 2,500-seat baseball stadium, 110-room hotel, retail shops and a restaurant in downtown Huntington. The project, called RiverPlace, would create 750 full-time jobs and generate $3 million in state and local tax revenues. The facility would be leased by Marshall University's baseball team and a summer collegiate wooden-bat league. Burgess is expected to request state approval to issue an additional $13.5 million in tax-exempt bonds next month, if additional state bonding capacity is available.
The West Virginia Economic Development Authority has authorized Brad Burgess, a Lexington, Ky., developer to issue up to $26.5 million in tax-exempt bonds to help finance the first phase of a $250 million project that would include a 2,500-seat baseball stadium, 110-room hotel, retail shops and a restaurant in downtown Huntington. The project, called RiverPlace, would create 750 full-time jobs and generate $3 million in state and local tax revenues. The facility would be leased by Marshall University's baseball team and a summer collegiate wooden-bat league. Burgess is expected to request state approval to issue an additional $13.5 million in tax-exempt bonds next month, if additional state bonding capacity is available.
# posted by Homer Owens @ 4:17 PM 
