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Old Posted Nov 13, 2019, 8:04 PM
sguil1 sguil1 is offline
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Superdome renovation contract up for review Thursday

A construction contract to begin renovating the Mercedes-Benz Superdome is on the agenda at a Thursday meeting of the Louisiana Stadium and Exposition District board.

The board must sign off on the contract before renovations can begin. It would be awarded to local construction company Broadmoor LLC, selected earlier this year to manage the first phase of the project set to begin in January.

The project, with total costs estimated at $450 million, is part of a financing plan that is aimed at keeping the New Orleans Saints in Louisiana for decades.

The 44-year-old stadium will see its ramp system removed and replaced with elevators and escalators, club and suite levels expanded, new entry gates erected, concession stands added and access for people with disabilities improved.

Construction is expected to take four years and will be completed before the Superdome hosts its next Super Bowl in 2024, officials have said.

Borrowing plans to pay for the upgrades won unanimous backing from the State Bond Commission, a panel of statewide elected officials and lawmakers. The state, the Saints and the Superdome management district will share in the borrowing repayment, with the state covering $90 million, the Saints putting up $150 million and the district paying $210 million.

Lawmakers will have to determine how to pay for the state’s share. The Louisiana Stadium and Exposition District will cover its portion of construction costs with a local hotel tax dedicated to its operations and revenue it receives from events at its facilities, officials said.

Louisiana’s current contract with the Saints, negotiated by former Gov. Bobby Jindal’s administration in 2009, runs through 2025.


https://neworleanscitybusiness.com/b...view-thursday/
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