Fifth Third Field debt almost paid off - Toledo News Now, News, Weather, Sports, Toledo, OH

Fifth Third Field debt almost paid off

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TOLEDO, OH (Toledo News Now) -

Mud Hens fans flocked to Fifth Third Field for the 2013 home opener on Thursday, and for Lucas County taxpayers, it means the debt associated with the construction of Fifth Third Field is another year closer to being paid off.

The county expects to make the final bond payment in 2016, which is five years earlier than originally anticipated. The remaining balance is $5.5 million.

Back in 2010 the county refinanced the ballpark debt, which resulted in savings of $9 million.

Commissioner Pete Gerken credits baseball fans for coming out to the games since the ballpark opened in 2002, and the revenue generated not only helps to pay off the debt, but it's also helping to pay for on-going improvements to keep the ballpark a first-class facility.

"The three things taxpayers need to remember, the debt's being paid off early, we saved $9 million, and we continue to make improvements at Fifth Third Field," he said.

Gerken says when the ballpark debt is paid off the county will be able to use a portion of the profits from the Mud Hens to make extra payments on the construction debt for the Huntington Center arena.

Copyright 2013 Toledo News Now. All rights reserved.

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