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DLS questions replenishment and size of Maryland sports events fund; stadium authority defends investments in Preakness and Oriole Park work
Summary
The Department of Legislative Services recommended rethinking the size and replenishment rules of Maryland’s Major Sports and Events Entertainment Fund, and questioned an operating deficiency for Preakness anniversary spending, while the Maryland Stadium Authority and sports industry witnesses defended the program as central to tourism and competitiveness.
The Department of Legislative Services (DLS) told the Education and Economic Development Subcommittee that Maryland’s Major Sports and Events Entertainment Fund should be scaled back in future years and that an operating deficiency for Preakness‑related activity is not the optimal funding vehicle.
DLS budget analyst Patrick Frank outlined four program areas for the Maryland Stadium Authority (MSA) — operations of stadiums, capital construction (including the Built to Learn school program), financing, and administration of the sports and entertainment events grant program. Frank said the Built to Learn program has $1.1 billion already issued from three bond sales and that the program is $64.4 million into an annual $100 million debt‑service limit; he said rising interest rates reduce how much additional borrowing the program can sustain and projected total program capacity between roughly $1.6 billion and $1.8 billion depending on future rates.
On the Major Sports and Events Entertainment…
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