Sprucing Up The Superdome

A plan to refinance debt for the New Orleans Arena and the city’s Superdome stadium got off the ground January 20th.

Louisiana’s State Bond Commission moved to begin seeking attorneys and underwriters to tackle the task while interest rates are still low.

Initial estimates show that as much as $50 million could be saved with a refinancing – money that could be applied to a new arrangement with the New Orleans Saints football team and help keep it in the Big Easy.

Gov. Kathleen Blanco submitted a proposal to the Saints that would keep the team in New Orleans through 2025 and includes spending $168 million on sprucing up the Superdome with premium seating, more luxury suites and other amenities.