DALLAS — A new 330-acre district designed to raise revenue for a $300 million renovation of Arizona State University's Sun Devil Stadium is facing some resistance as the college town and Phoenix suburb of Tempe recovers from recession.

The University Athletic Facilities District, approved by the Arizona Board of Regents last year is similar to a tax-increment financing district. Revenue would come from fees on commercial developers instead of taxes on increased property value.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.