LEE COUNTY, Fla. - Lee County Commissioners approved taking out bonds to pay for construction of a new Red Sox stadium. The new stadium and training facility will be built on 100 acres of land on Daniels Parkway north of the airport.
Commissioners voted 4 to 1 to borrow the money to be repaid over the next 30 years. The county will pay 81 to 82 million dollars for the bonds.
The interest rate will be set when they take out the loan in the next few weeks.
The bonds will be repaid taxes that visitors pay on hotel room rentals.
The new stadium will open in the winter of 2012.