SBD/18/Facilities Venues

MIAMI COMMISSION HEARS FINANCING PROPOSALS FOR NEW ARENA

     Miami Metro Commissioners yesterday received a financial
report on ideas to pay for a new $160M arena for the Panthers and
the Heat, with a "main source" of revenue a one-cent hotel bed
tax hike that could raise $60M.  However, a MIAMI HERALD poll of
the 13-member board found that four liked the idea, three didn't
know, while six were opposed.  Other financing options include
$27M in state sales tax rebates the Panthers are eligible for as
a new sports team, giving the Heat the same rebate, a $1
surcharge to any event in the new arena, and setting up a special
taxing district around the facility.  Panthers Owner Wayne
Huizenga has said if there is no arena plan by October 31, he
will sell the team or move it (Karen Branch, MIAMI HERALD,
10/18).
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Facilities, Miami Heat

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