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Lucas County Ballpark Bond Team Plays to Win in New York City
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Lucas County Ballpark Bond Team Plays to Win in New York City
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The Lucas County Ballpark Bond Team heads to New York City Wednesday to
pitch the ballpark construction project to bond rating agencies later this week. Moody's
Investor's Service and Fitch IBCA will give the project bond ratings, which will
determine the debt service on the future home of the Toledo Mud Hens.
The Lucas County Ballpark Bond Team is made up of Board of Lucas County
Commissioners President Sandy Isenberg, Assistant Lucas County Administrator Jim
O'Neal, Lucas County Office of Management and Budget Director John Zeitler, Lucas
County Treasurer Ray Kest, and Lucas County Auditor Larry Kaczala.
The Ballpark Bond Team will give presentations involving the scope of the
project, the schedule of completion, and the proposed budget. The Ballpark Bond Team is
working to secure $28 million in bonds to finance the new ballpark, which will open in
April 2002. The timing of the Ballpark Bond Team's pitch is critical, because hitting a
home run means the most favorable interest rate possible. That could save hundreds of
thousands of dollars in debt service payments in the future.
Excavation work has already begun on the ballpark site, bordered by Huron, St.
Clair, Washington and Monroe Streets. Concrete and steel structural work will begin in
the next few weeks. Passersby will begin to see the ballpark's steel skeleton take shape in
the downtown Toledo skyline by late spring or early summer.
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