Marlins Increase Money Toward Ballpark, Inch Closer To Deal
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Marlins Increase Contribution
In Push For New Home |
The Marlins “offered to increase their contribution toward a proposed retractable-roof stadium” from $157M to $192M, according to Barry Jackson of the MIAMI HERALD. The proposal “raises the total cost of the project” from $367M to $420M, including a $32M parking garage. Miami-Dade County Tax Collector Ian Yorty said, “We’re optimistic we can reach an agreement. The county is committed to getting it done.” Marlins President David Samson: “In an effort to fulfill (Owner Jeffrey Loria’s) desire to have a part in the saving of the franchise here in Florida, he wanted to once and for all allay concerns about the cost of the stadium by pre-funding potential overruns.” Samson noted that the Marlins’ proposed contribution would be the fourth-largest any MLB team has put toward a ballpark. Jackson notes the proposal also “asks for an additional $17[M] from local government –- either the county or the city or both — to cover land acquisition near the Orange Bowl and additional infrastructure costs.” The proposal does not include a letter of credit, which the county wants “to guarantee [the team] can cover cost overruns” (MIAMI HERALD, 10/28). TEAMING UP: In Ft. Lauderdale, Sarah Talalay reports the team, city and county “will lobby together for a $60[M] state sales tax rebate from the Legislature next spring to cover $30[M] in construction costs.” If state funding is not secured, the Marlins “can terminate the agreement.” Also, if an agreement is not approved by the city and county commissions at one of their next two meetings, the Marlins “cannot be barred from seeking to relocate to another city” (Ft. Lauderdale SUN-SENTINEL, 10/28). In Palm Beach, Charles Elmore notes one Marlins exec declined to say whether the team would guarantee $15M of the possible $30M gap. But the exec said, “Is there reason for optimism? Yes” (PALM BEACH POST, 10/28).
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