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HEAT MAY BE DEVELOPER IN RETAIL COMPLEX NEAR ARENA
Published April 29, 1996
A shopping and entertainment complex that Dade County wants to build near a new downtown Miami arena may be paid for by a private developer and the Heat, not the county, according to the MIAMI HERALD. Metro officials have "been forced to rethink the plan since learning this month that they can't use state grant money to pay" for the $165M arena or the surrounding retail development. A new solution would be to include a private developer and the team, as the County's deal with the Heat gives the team the "right to jointly develop, lease and operate the retail project." The retail project could provide "another source of income for the team," depending on how the deal is structured (Don Finefrock, MIAMI HERALD, 4/26).