APPENDIX 1
FACTS CONCERNING THE FINANCIAL
STATE OF THE DOME

1. Legal costs during construction rose to $638,000 by August, 1990. Several lawsuits were filed against the project.

2. The cost of the search for sports franchises to lease the Dome was $162,000 by August,1990.

3. The average annual debt payments on the stadium is $10.1 million. By the year 2003, it is expected to drop approximately to $7.4 million. The city and Pinellas county share the cost. St. Petersburg's total will be about $6.5-million over the next the 13 years. The debt is paid from sales and taxes on the tourist industry.

4. The city's most likely estimate on the taxpayers' subsidy to operate the stadium each year will be about $2.5-million -- without a Major League Baseball franchise. With a team, the subsidy is expected to drop to about $1.5-million.

6. The total debt on the stadium, with interest is $235-million.

7. The taxpayers were originally told that the Dome would cost $85-million.

8. City Manager, Robert Obering argued that the costs increased because he did not ask the architect the right questions.

9. The city built the stadium on a "fast track." This schedule helped to mask much of the final cost during the public debate concerning the project wrote the St. Petersburg Times. Construction started before the design of the Dome was completed.

10. In 1986, the City Council approved the first bond issue. The second issue was approved in 1989 for Dome cost over-runs. Although, public officials knew in1986 that the Dome would cost more than initially projected. However, no one mentioned this information during five public hearings.

Source: St. Petersburg Times, "Dome Financial Facts," August 5, 1990.