Newspaper article THE JOURNAL RECORD

Stadium to Cost $75 Million / Decision to Drop Baseball Design Cuts Estimate by $25 Million

Newspaper article THE JOURNAL RECORD

Stadium to Cost $75 Million / Decision to Drop Baseball Design Cuts Estimate by $25 Million

Article excerpt

reduced to $75 million from $100 million Tuesday, when the Oklahoma St ate Fair Board decided to drop the idea of designing the facility for baseball games.

The reduced proposal will be presented Thursday to the Centennial Subcommittee of the Mayor's Advisory Committee, with the fair board seeking a favorable recommendation to Mayor Coats and the Oklahoma City Council.

In addition, the fair board:

- Unanimously agreed to drop a proposal that bond issue proceeds be escrowed until a major league sports franchise is obtained for Oklahoma City.

- Approved an answer to a question by the Centennial Subcommittee, saying the city would be absolved of net operating losses of the proposed stadium.

Members of the fair board plan to meet with the Centennial Subcommittee Thursday. They will answer a set of questions posed a few weeks ago by committee members regarding such items as financing and operation of the stadium if the structure were to be built.

"We need to be 100 percent for whatever it is we present Thursday," said Maj. Gen. E.L. "Mike" Massad, who was again chosen chairman of the fair board during the meeting. "If we stand behind what we present, we might get a favorable reaction from the committee."

The change in the stadium design and the escrow change were amendments to a resolution originally passed by the board on Aug. 23, proposing that a stadium be built on the State Fairgrounds.

In that meeting, the board adopted a resolution for a $100 million domed stadium which would be designed so that both football and baseball could be played in the facility.

However, in an effort to make the domed stadium more palitable to the Centennial Subcommittee, and ultimately to the mayor, city council and the public, changes were suggested by the board's executive committee.

The board is still recommending financing for the project be provided by a bond issue, supported by 50 percent of a 1 cent sales tax which would last approximately seven years, said Paul B. …

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