Monday, March 30, 2009
Money gap could block MLS soccer team
An interesting read on Oregonlive regarding a $63 million gap that the city of Portland is faced with in it's commitment for both the PGE Park remodel and the new AAA baseball stadium. To quote the article;
"Paulson's $88.8 million deal with the city is weighed down with a $26.8 million hole. The city also must move $36.2 million in costly, hard-to-sell bonds amid the worst financial crisis in decades. Put together, $63 million -- or more than two-thirds -- of the deal remains uncertain".
To me that sounds like this thing is far from a done deal. Especially when the article quotes Merritt Paulson as saying that he has not ruled out using either state aid or federal stimulus money. Not sure what Merritt has been smoking, but it has to be some pretty good stuff. All that I have to say to him is good luck Merritt.