Tacoma City Council approved a resolution yesterday authorizing an interfund loan from the Citys General Fund for $2.7 million over a three-year period with a fixed interest rate of 5 percent. The loan will be used to replace the artificial turf playing surface and for the redesign of a theater-configuration grid which would create a more intimate setting for concerts. The loan also earmarks $825,792 for new turf at the Dome. The loan will be paid off in three years, at five percent interest, from Dome revenues, including additional revenue expected from the improvements.
City approves $2.7 million Tacoma Dome loan
Tags: Citys General Fund, USD