News coverage of interest from a public finance industry publication:
And as the board sorts out its financing plans for the three new stadiums, the authority is not even considering building a professional soccer stadium near downtown Houston that had the backing of former Mayor Bill White. To take on another stadium would represent a breach of contract with the three professional teams, [sports authority executive director Janice] Schmees said.
“Our revenues are pretty stretched right now,” she said. “The three stadiums we have now are enough to deal with.”
All-too-typical cheerleading from Houston’s newspaper of record:
Of the MLS teams pushing for a stadium, the Dynamo appear closest to the goal. Team ownership hopes to strike a deal with the city of Houston and Harris County for a 22,000-seat, $80 million venue just east of U.S. 59 downtown.
Under a proposal backed by Houston mayor Bill White, the Dynamo would contribute nearly $60 million to the project, with the city and county each contributing $10 million in redevelopment money. The money would come from a tax increment reinvestment zone.
Meanwhile, Bill King notes that the City of Houston’s budget shortfall is growing.
Merry Christmas, everyone!
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