Kraft Wants New Revolution Stadium In Boston United Signs On At Warriors' New Arena MLB Rangers Bump Up Texas Live! Date Maryland Raises Half Its Goal For Cole Field House Facility Notes Univ. Of Tennessee Completes Neyland Stadium Study Kentucky Lawmakers Ask For Audit Of Yum! Center Facility Notes Islanders Fans More Comfortable At Barclays Center Chargers Tout Stadium Bill Three Weeks Before Vote
MIAMI SPORTS AUTHORITY COUGHS UP $9M JUST IN CASE
Published June 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).