Facilities Venues

MIAMI SPORTS AUTHORITY COUGHS UP $9M JUST IN CASE

6.12.1996

     The Miami Sports and Exhibition Authority may pay an
additional $9M towards a new $165M Heat arena so that Dade County
will not have to dip into its general fund, according to the
MIAMI HERALD.  The Authority will now pay $24M total, with the
$9M held in reserve should Dade's other cash sources, such as
tourism revenue, fall short.  Even with extra $9M, Dade will
pledge $7M from sales tax proceeds as backup.  Metro Dade
Commissioner Katy Sorenson, an arena opponent, said the plan "has
gotten a little bit better," but added, "Let the Heat build its
own arena.  It can well afford to do so" (Don Finefrock, MIAMI
HERALD, 6/11).

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