What is the Sports Authoritys contribution to the construction costs for Reliant Stadium?
The Sports Authority’s hotel occupancy taxes and short-term vehicle rental taxes will be pledged to provide a targeted amount of $252 million in net bond proceeds, with the additional net bond proceeds (targeted to be $65 million) being secured by $4,782,000.00 in new revenues and ticket and parking taxes or surcharges generated by the operation and use of Reliant Stadium. With these two sources available, the Sports Authority has committed to fund no more than $317 million in net bond proceeds to pay for the construction of Reliant Stadium. What is the NFL Club’s contribution to the construction costs for Reliant Stadium? The NFL Club will contribute $50 million to the construction of Reliant Stadium, payable in three installments which may be funded by the sale of personal seats licenses for seating at the NFL Club’s events/games. What protections will be in place to insure that Reliant Stadium will be built within the budget? The parties have agreed that any construction contractor
