PROVIDENCE, R.I. (AP) - Lawmakers are moving closer to passing legislation that would help the Pawtucket Red Sox build a new ballpark in the city.
A committee approved the bill Thursday. The full House may vote later Thursday night.
Democratic House Speaker Nicholas Mattiello (mat-ee-EL’-oh) wants to finance the public contribution with so-called “special revenue bonds.” Only tax revenue generated directly by the stadium and its surrounding area would go toward paying off the bonds.
If revenues fall short, the state wouldn’t need to settle the debt. It’s less risky but more expensive to finance bonds when they aren’t guaranteed by the state.
A Senate-approved plan would’ve guaranteed $23 million in state money for the $83 million stadium.
The PawSox are the Triple-A affiliate of the Boston Red Sox.
Worcester (WUS’-tur), Massachusetts, also has wooed the team.
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