Developers proposing to build a hotel in downtown Huntington and a baseball stadium for Marshall University have been given state approval to issue $26.6 million in tax-free bonds.
The West Virginia Economic Development Authority gave its OK Thursday.
Developers Brad Burgess and Keith McGuire say they're trying to put together a $50 million financing package for the first phase of the RiverPlace project. They say the full project could cost $250 million.
Economic Development Authority David Warner says the agency may approve the sale of more bonds next month, depending on the fate of unrelated projects.
Burgess says the developers are still negotiating a lease with Marshall for the proposed stadium. He says they would pay to build the stadium, which also would be home to a college summer league team.
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