SIDELINES : Funds Readied for Boston Arena
A five-point plan to finance a new Boston Garden, including a proposal to issue $125 million in industrial bonds, will be presented to the owners of the sports arena next week, a city official said.
“It’s up to them. We’re putting serious resources on the table,” John Connolly, Mayor Raymond L. Flynn’s development adviser, said Thursday. He said the exact date of the meeting has not yet been set.
Flynn’s office said the plan includes forgiving an estimated $9 million in projected taxes over the coming seven years.
The current proposal for a new arena for the Boston Celtics of the NBA and the Boston Bruins of the NHL has a price tag of $155 million.
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