Stadium renovation debt to be retired Monday - WAOW - Newsline 9, Wausau News, Weather, Sports

Stadium renovation debt to be retired Monday

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GREEN BAY(AP) -- The loans needed to renovate Lambeau Field in Green Bay will be paid off early. But the half-percent county sales tax used to pay the debt will remain.

The Stadium District Board said the tax revenue will be used to build a multi-million dollar maintenance fund. The board was created in 2000 as a type of landlord for the stadium. Nearly $175 million in bonding was issued for renovations at Lambeau. Board members thought the debt would be retired by 2018. Instead, it will be paid off Monday.

The board's executive director Pat Webb says low interest rates and interest earned on investments contributed to an early payoff. The sales tax is projected to continue through 2015.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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