RAD board to discuss Steelers' bond request

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The Allegheny County Regional Asset District has not set a date yet to consider whether to guarantee up to $25 million worth of bonds for a plan to add 3,000 seats and a second scoreboard to Heinz Field.

The meeting will consist of a public hearing and a vote by board members, said David Donahoe, RAD's executive director.

The Steelers and the Pittsburgh-Allegheny County Sports & Exhibition Authority announced last week a deal in which the Steelers would cover the cost of a $34.5 million seat expansion and installation of a $3.3 million scoreboard through ticket revenues and the sale of personal seat licenses.

No taxpayer money or RAD funds would go toward the plan.

The Steelers would direct ticket and license revenues toward the annual $2.1 million lease payment to the SEA, which would help in paying off a bond issue from the SEA to help finance improvements.

The Steelers, and the SEA, are asking RAD to guarantee the bonds, which would result in better interest rates.

The Pittsburgh Post-Gazette reported last week that the vote on the request would take place in June. So far, RAD officials and board members are still working on finding a date to hold the meeting, Mr. Donahoe said.

The RAD board held a brief meeting Thursday, when members voted to approve grants of $72,273 to the Carnegie Museums of Pittsburgh for accessibility improvements to the Oakland campus, $10,000 to the City of Asylum to purchase assisted listening devices and $10,000 to Pittsburgh Musical Theater for installation of a wheelchair lift.

Members also voted to re-elect Daniel Rosen as an at-large member of the board. His term will be two years.


Kaitlynn Riely: kriely@post-gazette.com or 412-263-1707.

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