Trustees of the War Memorial Stadium Commission have approved $4 million of revenue bonds to help finance a new $7.3 million press box at the football stadium in Little Rock. The debt will be supported by revenue from rent, stadium advertising, concessions, and parking fees.
Most of the revenue is generated from two football games at the stadium each year between the University of Arkansas and various opponents. Area colleges and high schools also play football games at the stadium.
Other financing includes $1.5 million from the Arkansas Natural and Cultural Resources Council, $1.5 million from Gov. Mike Beebe’s general improvement fund, and $365,000 in state appropriations. The work will add 278 seats to the stadium, which currently has a capacity of 53,727. The project is to be completed by August 2010.
War Memorial Stadium was built in 1948. The stadium commission currently has no rated outstanding debt.