Marlins New Ballpark Plans Could Be Approved Thursday
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City, County Officials This Week Could Approve
Financing Plan For New Marlins Ballpark |
Miami and Miami-Dade County commissioners Thursday will vote on a $515M financing plan, which would help fund a 37,000-seat retractable roof ballpark for the Marlins at the site of the Orange Bowl, according to Sarah Talalay of the South Florida SUN-SENTINEL. If approved, the new 35-year plan would "put an end to talks of the Marlins relocating outside Florida." The deal, which is "binding and lays out timelines and ballpark specifications," calls for the county to contribute $347M, which includes a $50M general obligation bond approved by voters to renovate the Orange Bowl. The rest of the money would come from hotel and sports facilities taxes. Miami would provide $13M in tourist taxes and $10M for demolition of the Orange Bowl, and would "oversee the building" of a $94M, 6,000-space garage. The Marlins, who would be renamed the Miami Marlins by the expected completion date in 2011, would contribute $155M, including $35M in rent payments, and “pay for cost overruns.” County Commission Chair Bruno Barreiro, "a longtime supporter of the stadium project," said that he "hasn't studied the deal closely but expects to support it" (South Florida SUN-SENTINEL, 2/18).
POSSIBLE ROAD BLOCKS: In Miami, Pinzur & Rabin wrote there was no sign of "opposition coalescing around any particular objection to the deal. But a wide range of smaller concerns -- about the financing, the design and the team itself -- leaves the outcome far from certain." Also still lingering is Miami luxury auto dealer Norman Braman's lawsuit “challenging the complex financial deal that underpins the stadium and other major downtown projects.” City Commissioner Tomas Regalado said of the financing plan, "It's not like a done done deal." However, Barreiro, said that he "believes the deal has at least the seven votes it needs to pass the 13-member commission." Barreiro: "In general, overall it looks good." (MIAMI HERALD, 2/18).
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