A $400 million soccer stadium project in Pawtucket, Rhode Island, known as Tidewater Landing has hit a snag. Public officials were set to issue $27 million in public bonds for the stadium, but have delayed due to financing issues. Pawtucket spokesperson Grace Voll said, “Given the market challenges of the last year, including a global pandemic…the state financing and private debt components of the capital stack have not made fiscal sense to close to the date.” Developers and public officials involved in the project have declined interviews. Former RI Department of Administration director Gary Sasse, who has been sceptical of the project from the start, tweeted, “The deal could not meet the smell test in a Finance 101 class, especially during inflation pressure.” Rhode Island FC, the minor-league soccer team slated to play at the stadium by early 2024, continues to have confidence in the project moving forward.

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