- Associated Press - Tuesday, June 26, 2018

PROVIDENCE, R.I. (AP) - Rhode Island officials say the Pawtucket Red Sox stadium and its surrounding area will need to bring in about $5 million annually in state and city tax revenues to cover debt from a proposed stadium.

WPRI-TV reports General Treasurer Seth Magaziner said in a memo released Monday bondholders would like to see about $5.2 million in revenue each year to ensure a cushion.

Lawmakers approved a bill last week to help keep the Triple-A team in the state. Under the legislation, the PawSox would contribute $45 million to the $83 million project. It would also be responsible for any cost overruns.

A spokesman said Monday the team was reviewing the legislation and would meet with Pawtucket officials to discuss the plan.

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Information from: WPRI-TV, http://www.wpri.com

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