Sunday, Jul 24, 2016
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$100M loan authorized for Toledo arena

Lucas County commissioners yesterday authorized the county to borrow up to $100 million to pay for construction of the downtown arena project.

County Administrator Michael Beazley said the county will likely borrow about $85 million, with the rest of the arena's $100 million-plus construction costs to be paid by proceeds from naming rights, early ticket sales, and other sources, including a 2 percent increase in the county's hotel-motel tax.

The yet-to-be-named arena will host a minor league hockey team, the Toledo Walleye, as well as concerts and other events.

HNTB of Kansas City, Mo. is the lead designer. It unveiled the final design earlier this month.

The original plan called for an $85 million project.

But county officials decided on a larger arena design with more luxury suites and viewing rooms.

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