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INVESTORS IN CROSSROADS ARENA PROJECT SET APRIL 6 DEADLINE FOR FINANCING

Five of the six partners in the Crossroads Arena project are shooting for April 6 as the latest deadline to complete financing, although the city's chief negotiator will not be pinned down on a date.

Lawrence Quinn, the Buffalo Sabres lead official for Crossroads, said that two bank groups loaning $67.5 million to the project will have their documents completed this week and want to finish the deal by April 6.

The Sabres already have borrowed several million dollars to keep construction moving at the site at the foot of Main Street and are eager to secure permanent financing for the 20,000-seat arena.

Richard Tobe, the county's chief official for Crossroads, said his staff is working toward having documents ready for the County Legislature to approve at its next scheduled meeting on April 6. The county is contributing $20 million.

Tobe and Quinn anticipate the state also will be ready to sign on for $25 million by then.

That leaves the city and its $10 million investment, most of which has been spent on acquiring land and laying the foundation.

Arnold B. Gardner, the private attorney representing City Hall, said negotiations are continuing but important issues still must be resolved.

Among the topics yet to be resolved to the city's satisfaction are a settlement of its bed tax dispute with the county, a non-relocation agreement keeping the Sabres in Buffalo for 30 years and guarantees that a proposed Metro Rail station will have all-weather access to the arena.

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