From Deseret News archives:
Is Real deal a done deal?
Stadium: Fate of new plan now in Checketts' hands
Salt Lake County leaders faxed a stadium funding plan to Real Salt Lake owner Dave Checketts late Friday afternoon that includes $55 million in public subsidies. But as of Deseret Morning News press time, Checketts had yet to respond.
The county's plan came at the last possible minute, as Checketts had said public funding for a stadium must be hammered out before today's game between Real Madrid and Real Salt Lake.
The proposal came after 24 hours of intense negotiations among county leaders, Real officials, legislators and Gov. Jon Huntsman Jr.
"I believe it is a plan that is feasible and protects the interests of the citizens of Salt Lake County," said county Mayor Peter Corroon, who spearheaded the proposal.
But Anderson believes a groundbreaking is probably unlikely this morning.
"I hope we can do it, but it makes it real tough when Salt Lake County sends a fax over and disappears, and you can't clear things up, and there are plenty of things that need to be cleared up," the city mayor told KSL Newsradio's "Nightside Project."
Corroon said late Friday he and members of his staff spoke to both Checketts and Anderson after sending Real the proposal.
Despite Anderson's skepticism, Corroon said he believes the plan should satisfy Real brass. If it doesn't, Checketts said he has already hired someone to sell the team. Investors in Rochester, N.Y.; St. Louis and even Utah County are interested in buying.
Under the county's plan, Real would use $20 million in hotel-room tax revenues to build infrastructure for the stadium, with Sandy contributing $15 million in redevelopment agency funds. The team would also share a $20 million parking garage with the county-owned South Towne Exposition Center. It would be built on the west side of State Street.
In the past, county leaders voted down other stadium-funding proposals because of high interest payments. But taking out a $10 million bond in 2010 and another $10 million bond in 2015 alleviates those concerns, as the hotel-room tax dollars would then no longer be used to fund Salt Palace expansion, Corroon said.
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