Astrodome Redevelopment group wants another extension

Harris County's deadline for resolving financing issues related to turning the Astrodome into a destination resort is less than a week away, but the redevelopment group wants another extension. Judge Emmett and Commissioner Radack oppose an extension, but Harris County attorney Mike Stafford says giving the group more time is reasonable (via the Chronicle):

"There are still irresolvable issues. The financing was supposed to be in place," Emmett said. "At some point, you say enough. Either you have definite financing or you don't."

Emmett and other members of Commissioners Court have said they understand that the majority of county residents feel attached to the Astrodome the world's first domed stadium, dubbed the "Eighth Wonder of the World" when it opened in 1965 and would like to find a second life for the facility.

Radack has questioned whether reinventing the Dome as a 1,200-room upscale hotel is financially viable. He also has said he does not want the county forced into the hotel management business if Astrodome Redevelopment's $450 million investment falls through and it defaults on a loan.

Stafford said it would be appropriate to grant an extension because the county's management services department needs more time to analyze the deal.

The decision on whether to grant an extension rests with the sports corporation, which is scheduled to meet today.

"We probably would be inclined to take the advice of the county attorney, but it would be inappropriate to discuss the issue in detail," sports corporation vice chairman Charles "Sonny" Sowell said.

This boondoggle isn't dead yet.

BLOGVERSATION: Professors R-Squared.

Posted by Anne Linehan @ 01/23/08 04:54 AM | Print |

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