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Article: Play Ball secures new loan
- Article from:
- Missoulian
- Article date:
- November 21, 2003
- Author:
CopyrightCopyright The Missoulian Nov 21, 2003. Provided by ProQuest LLC. (Hide copyright information)
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Play Ball Missoula is reeling in its city funding as crews hustle to beat the onset of winter at the civic stadium site next to McCormick Park.
The nonprofit organization filed its request for $500,000 in Missoula Redevelopment Agency support this week, showing it has secured a new $1 million loan to qualify for the matching funds. The MRA account provides $1 for every $2 the nonprofit organization raises up to $2 million. The money comes in $250,000 increments.
MRA Director Geoff Badenoch said a group of private individuals pledged security for the loan, which is expected to be paid back through stadium rents, ticket taxes and a percentage of the concession and activity sales. First ...