City-council plan reserves cash for Penguins City and Allegheny County redevelopment authorities are working to ensure that cash will be available to the Penguins for any portion of $15 million in credits the team doesn't use in redeveloping the Mellon Arena site.
Under the agreement reached in March to keep the team in Pittsburgh, the Penguins get $15 million in credits that can be used to buy Mellon Arena property for redevelopment. If they do not use all $15 million after 10 years, they are entitled to cash for whatever amount remains.
Wednesday, September 05, 2007
City-council plan reserves cash for Penguins
Look away from the goofy spending. We own what?!?