Alameda County Wants Out Of Coliseum Deal Bucks Turn To County For Arena Land Deal Atlanta MLS Club Nears Deal For DeKalb HQ Facility Notes San Diego Pitches Chargers Plan To NFL A's Reportedly Holding "Positive" Ballpark Talks Indians Eye More Ballpark Renovations Facility Notes Rupp Arena Set For $15M In Tech Upgrades Beckham Group To Pay For Resident Relocation
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).