Saturday, Dec 10, 2016
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Politics

Canadian firm to do masonry for stadium

Lucas County commissioners yesterday awarded a contract to G.A. Masonry of Toronto for the masonry work on the downtown ballpark for the Toledo Mud Hens.

The company's proposal is $2.97 million to do the brickwork for the ballpark.

Lucas County commissioners earlier rejected a bid by Rudolph/Libbe, Inc., of Walbridge, for about $3.2 million. The job originally was estimated at slightly more than $2 million.

After rejecting the Rudolph/Libbe bid, commissioners asked for new bids, but no local firms submitted proposals.

Commissioners said they have been assured that the Canadian firm will use as many local workers as possible.

County Treasurer Ray Kest told commissioners he will buy $6 million in bonds, which will yield 5 percent interest.

Mr. Kest said he considers the bonds to be nearly risk-free because of other financing in place for the ballpark.

The county already has sold $20 million in bonds to a Minneapolis company at a yield of 6.68 percent interest.

In addition to paying a lower interest rate, commissioners will save money because the deal will eliminate underwriting and other fees that normally are involved in a bond sale.

The ballpark is under construction in an area bounded by Washington, St. Clair, Monroe, and Huron streets. It is expected to cost $37 million to $39 million.

It is scheduled to be ready for opening day of the baseball season in April, 2002.

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