Bills In No Rush On New Stadium Braves, Falcons Pitch New Stadiums At Same Time Colorado Facilities Projects Nearly Complete Santa Ana E-Sports Venue Marks A First For U.S. Coyotes Find Location For New Arena AEG Proposes New Arena In San Diego Vegas NHL Team Sets Sights On Practice Facility Cowboys Open New Restaurant In AT&T Stadium Colorado Looks To Monetize Facility Upgrades Panel Wants To Reduce Funding For Vegas Stadium
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).