Lawmakers will revisit PawSox stadium deal this week
PROVIDENCE, R.I. (AP) — Rhode Island lawmakers will revisit a deal for a new Pawtucket Red Sox stadium as their legislative sessions nears its end.
The House Finance Committee is scheduled to consider the deal Tuesday. Lawmakers hope to end the session Friday.
Democratic House Speaker Nicholas Mattiello says the bill will follow his plan to finance the state’s contribution to the stadium with so-called “special revenue bonds.” Only tax revenue generated directly by the stadium and its surrounding area would go toward paying off the bonds.
If revenues fall short, the state wouldn’t need to settle the debt.
The Senate-approved plan would have guaranteed $23 million in state money for the $83-million stadium.
Mattiello’s plan is less risky, but it’s more expensive to finance bonds when they are not guaranteed by the state.
