Facilities Venues

PANTHERS ARENA DEVELOPERS NEED LOAN TO FILL UP CASH KITTY

6.24.1998

          Broward County, FL, commissioners voted to "freeze" $9M
     to cover back wages owed to construction workers on the NHL
     Panthers' new arena, according to Meg James of the MIAMI
     HERALD.  At issue is "at least" $6M in back wages "owed to
     construction workers" due to insufficient wages.  The move
     "leaves" $7M in county money available for the Panthers to
     complete construction of the $184.5M arena, which is "edging
     closer" to $200M.  Broward Finance Dir Phil Allen said that
     Arena Development Co. is "lining up" a $10M bank loan "to
     complete the project after the county money dries up this
     summer."  Commissioners said they "needed to move quickly to
     prevent the depletion of the remaining" $16M in the
     construction budget (Meg James, MIAMI HERALD, 6/24).

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