After a year-long quest, the New Boston Garden owners apparently have found an abundance of riches. Just two months ago, there was one serious contender for the financing, Tokyo Trust, a Japanese banking firm. Now, according to [Lawrence Moulter], there are three, and two are from Boston. The loan reportedly would be for $120 million.
The Delaware North Co. of Buffalo, N.Y., of which [Jacobs] is chief executive officer, owns both the Garden and the Boston Bruins. It has also been designated the developer of the North Station area by the Boston Redevelopment Authority. After Jacobs closes a deal on the financing, two more steps will remain before a press conference is called to make New Boston Garden official.
Jacobs has notified Mayor Flynn that a deal is imminent and that he will be calling upon the city and state to expedite it. The state will have to arrange with Jacobs to take the present Boston Garden by eminent domain. When this is done, the city will be asked to quickly approve the permits needed to start construction.