Events Calendar
In This Section
Most Read Stories
Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Man found dead in North Akron home is identified
Dad accused of forcing son into field, killing him
Coventry man killed in crash at I-77 ramp
NFL star Chris Spielman's wife loses cancer battle
College student mistaken for deer, shot to death
Browns' roster nearly devoid of consistent players
Review: You've never seen 'Sound of Music' like this
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Friday Night Notebook
Patrick McManamon:
For your Saturday entertainment …
Akron Zips:
Hitchens leads Zips in second-half comeback
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Holmgren expresses interest in Browns position
Kent State Sports:
Kent State blown out in second half, loses to Temple 47-13
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
Headed For Disaster
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (68) Democrats Secure 60 Votes for Cloture
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Silverdome Potentially SOLD!
Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Colloquium at University of Akron
Akron Gamer:
Nintendo's Mario endures even as games come and go
Published on Tuesday, Oct 14, 2008
Goodyear, Ariz., which is trying to build a spring-training stadium for the Cleveland Indians and Cincinnati Reds, is facing millions of dollars in unexpected costs because developers are wrestling with financial and legal woes.
Extra expenses could include $3.6 million to complete the art, retail and plaza space at the ballpark, plus $2.5 million a year for municipal services in the Sonoran Valley, a 67-square-mile area the city annexed last year.
The city also must cope with Arizona's revenue shortfall and the U.S. economic crisis.
Goodyear could lose up to $350,000 in interest from its general fund after investment bank Lehman Brothers filed for Chapter 11 bankruptcy protection. The city keeps money in an Arizona investment pool, slightly more than 1 percent of which was invested in Lehman bonds.
Goodyear annexed the Sonoran Valley in 2007 in a partnership with Scottsdale's Montage Holdings.
The company will develop Amaranth, a community that originally called for 42,000 homes and 20 million square feet of commercial space. But Montage recently announced it will delay construction for at least a year.
In the meantime, the company owes Goodyear nearly $1 million for services provided in the Sonoran Valley last fiscal year.
Meanwhile, Goodyear's stadium retail development is in limbo.
A family sold a portion of its land to Goodyear for the ballpark and was supposed to develop the site, but the family's companies filed for Chapter 11 protection.
ROYALS HIRE COACHES — Former Toronto Blue Jays manager John Gibbons returned to the majors Monday when he was hired by the Kansas City Royals to be their bench coach.
The Royals also hired Kevin Seitzer, who was an All-Star third baseman with Kansas City and is still popular in the area, as hitting coach. He was fired last July as Arizona's hitting coach.
Dave Owen, the Royals' bench coach last season, will become third-base coach. Seitzer replaces fired Mike Barnett.
— Associated Press
Goodyear, Ariz., which is trying to build a spring-training stadium for the Cleveland Indians and Cincinnati Reds, is facing millions of dollars in unexpected costs because developers are wrestling with financial and legal woes.
Get the full article here.
Comments
Click here to post your comments
