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Posted: Thursday, 15 May 2008 11:50AM

State faces multi-million dollar shortfall for Saints payment


The state commission that oversees the Superdome still faces a multi-million dollar shortfall in inducement payments owed to the Saints by July, but that shortfall could be smaller than what was first thought.

And, even though a shortfall remains because of bond re-financing, Superdome manager Doug Thornton says it's expected the state will include money to pay the Saints in the upcoming budget.

"The state has agreed to support with a request for an appropriation to cover the shortfall for this year," said Thornton.

It now appears the shortfall is up to one million dollars under the orginial estimate of $6.3 million, thanks to better than expected hotel tax collections and revenue generated by Hornets playoff games.

   

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