Fans will now also have to pay a few dollars on every ticket for parking as well
San Francisco, CA -- (SBWIRE) -- 09/29/2012 -- A $1 increase on Steelers ticket surcharge, plus a $2 to $3 dollars charge for parking is to be levied on fans.
The agreement was made by the team and local politicians to finance additional seating at Heinz Field. The 3,000 new seats rely on a bond issue estimated at $20 million, and will be floated by new stadium owner Pittsburgh-Allegheny County Sports & Exhibition Authority to finance its share of construction. The project has an estimated cost of $38 million or $39 million in total. The Steelers and private sources would handle the remainder of the cost.
An estimated $40 million was raised by the team through personal seat licenses prior to Heinz field opening in 2001, which was used toward their share of the $281 million cost of the stadium.
Allegheny Regional Asset District will serve as guarantor of the bonds. RAD provides $13.4 million per year to pay debt on Heinz Field, PNC Park, and David L. Lawrence Convention Center; however, no RAD money will be utilized to finance the expansion construction.
Negotiations between the Steelers and SEA, Mayor Luke Ravenstahl and Allegheny County Executive Rich Fitzgerald have gone on for most of the year regarding seating which would be built in the south end zone. And while Fitzgerald stated he was unsure of the exact terms, he described estimates as “in the ballpark.”
“We’re moving forward on this. There have been some significant talks throughout the summer regarding the Steelers’ desire to add the seats and an additional scoreboard, and we’ve been working with them to find a solution,” he said.
“It will be a good thing. It will add to the vitality of the region and the North Shore and it will allow more people to participate in the excitement of the Steelers’ success.”
The existing surcharge raises $1.5 Million per year. That money is used for repairs and improvements. Under the new agreements, some of the money would go to paying for the seats.
Officials look to finalize the deal in the coming month so that construction can start following the current season.
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