Asset District sets July 2 vote on bonds for Heinz Field

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The Allegheny County Regional Asset District will meet next month for a discussion about whether to guarantee up to $25 million worth of bonds for a plan to add 3,000 seats, as well as a second scoreboard, at the Steelers’ Heinz Field.

The meeting, which will consist of a public hearing and a vote by board members, is scheduled for 3 p.m. July 2 in the Gold Room of the Allegheny County Courthouse.

The reason for the meeting is the agreement reached last month between the Steelers and the Pittsburgh-Allegheny County Sports & Exhibition Authority regarding the expansion. The Steelers will cover the cost of a $34.5 million seat expansion, and the installation of the $3.3 million scoreboard.

No taxpayer money or RAD funds would go toward the plan, but RAD is involved because it is being asked to guarantee what is expected to be an $18 million bond issue from the SEA, which would result in better interest rates.

Members of the public who want to comment should register with RAD by 10:30 a.m. July 2. Written comments can also be submitted for the record.

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