PROVIDENCE, R.I. (AP) - Revised financing legislation for a new Pawtucket Red Sox stadium indicates the initial cost of construction and interest payments could be millions more than projected.
The legislation introduced in the Rhode Island Senate Finance Committee on Thursday details $85 million as the top amount the Pawtucket Redevelopment Agency could bond.
The Providence Journal reports that the deal continues to rely on an additional $12 million upfront payment from the Boston Red Sox Triple-A affiliate.
Democratic Senate Finance Chairman William Conley Jr. says the projected higher costs are meant to show the “worst case scenario.” Conley says it is very unlikely the projected cost of $97 million will end up being the final cost.
The first draft of the legislation didn’t include all fees and interest payments on the bonds.
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