City approves $2.7 million Tacoma Dome loan

Tacoma City Council approved a resolution yesterday authorizing an interfund loan from the City’s General Fund for $2.7 million over a three-year period with a fixed interest rate of 5 percent. The loan will be used to replace the artificial turf playing surface and for the redesign of a theater-configuration grid which would create a more intimate setting for concerts. The loan also earmarks $825,792 for new turf at the Dome. The loan will be paid off in three years, at five percent interest, from Dome revenues, including additional revenue expected from the improvements.