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DOES SUNRISE ARENA PLAN MEAN A NEW DAY FOR HOCKEY IN FLA.?
Published December 13, 1995
Officials from Sunrise, FL, "hope to jumpstart plans for a hockey or basketball arena with a new proposal that offers $5 million in city incentives to close the financing gap that threatens the project," according to this morning's MIAMI HERALD. Sunrise City Manager Pat Salerno said the new plan meets the September '98 deadline set by Panthers Owner Wayne Huizenga to be playing in a new arena. Salerno said by a combination of public and team money backing bonds, the financing gap -- estimated at as high as $40M -- could be brought down to $5M, which the city could cover. While the bonds would be backed by a 2% bed tax, a $2M/year sales tax rebate and a $1 ticket surcharge, the city would want the team to cover the first $300,000 a year on any shortfall from low attendance. That "could be the potential sticking point," since the team has not said whether they are willing to back the bonds (Rafinski & Prater, MIAMI HERALD, 12/13).