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Miami-Dade County Announces Marlins Financing Plan

fauowls44

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http://www.miamiherald.com/416/story/25666.html

Miami-Dade County announces Florida Marlins' financing plan
BY CHARLES RABIN
crabin@MiamiHerald.com
With only a few days to go before the state legislature may finally install the missing piece of the Florida Marlins stadium puzzle, Miami-Dade County made the plans for a new ballpark downtown public on Tuesday.

The county, the city of Miami, the Florida Marlins, and the state of Florida will combine to build a $490 million facility adjacent to and on the north side of Government Center.

The Marlins out of pocket contribution comes to $45 million. The team would also repay the county $162 million in bonds issued by the county, through rent; The county would pluck down another $145 million from a combination of tourist taxes; Miami's input would be $108 million from tourist taxes and revenues that use to go to Miami Arena.

The still missing link: $30 million from the state legislature, which has teased the team with bills for the past few years, some of which have died on the floor as the legislative session ended.

This year, though, the money from the state seems to have a better shot at reaching the Marlins. At least so far, and with the session beginning Monday, it has the backing of several legislators and Gov. Charlie Crist.

There are a few other major obstacles that could stand in the way of a stadium deal being completed: Moving a child daycare facility on the north side of Government Center, and most importantly, finding an alternative site for the long-planned Children's Courthouse.

The courthouse has been a focal point of county plans for a few years, and last year County Manager George Burgess said if a reasonable plan could not be worked out involving the courthouse, he would not go along with any Marlins deal.

The new stadium would seat 37,000 people, and have 60 suites and a retractable roof. It's scheduled completion date is 2011.


Sounds good to me!
 

JetsMania

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We're getting closer...

I will go crazy if it happens next week.

That stadium looks like it will be around fenway park size. Maybe they will have a few spots for standing room allowing capacity to get to 40,000.

The marlins contribution is only 45 million. With such a small amount they better attemt to resign Cabrera and Willis, as well as alot of our young players.
 

yandro

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We definately are getting alot of the important officials on the bandwagon. I think this is the year it finally happens!!!!

By the way, when is the Marlins lease up? End of 2009? or 2010? They said the stadium would be completed in 2011. Let's hope that means January or February!
 

Juanky

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The state legislature comes back into session next Tuesday, and both houses seem to be much more inclined to vote for it this time. The Marlins might also be piggy backing off of other teams trying to double dip into the exemption.

Looking good.
 

miamibaseball

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let hope that state legislature donot wait to last min vote on it as hand hit midnight their bad about doing that last few year
 

JetsMania

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We definately are getting alot of the important officials on the bandwagon. I think this is the year it finally happens!!!!

By the way, when is the Marlins lease up? End of 2009? or 2010? They said the stadium would be completed in 2011. Let's hope that means January or February!

I think 2010 is the last season of the lease. So the 2011 opening would be perfect.
 

TSwift25

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Progress is good.

I'm still not a huge fan that it still hinges on the state. I was under the impression that the financing plan would ultimately find away to not need the money from the state since that's where it's died multiple times before.
 

FreshFish

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Progress is good.

I'm still not a huge fan that it still hinges on the state. I was under the impression that the financing plan would ultimately find away to not need the money from the state since that's where it's died multiple times before.

If they put a plan that doesn't need state money, then they won't get a penny.

*remains cautious*

but optimistic?
 

FlummoxedLummox

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*remains cautious*

but optimistic?
Internally I am a little optimistic, but I'm trying to stay neutral and not get emotionally invested. There have been too many close calls already, and I'm still concerned with the small footprint of the plot.
 

Out of the Past

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I think a major obstacle is / was the use of the CRA funds for the stadium and this article completely ignores the CRA funds issue. I wrote to Rabin and this is his response:

Me:
Are they using any CRA funds? I understood they planned on using CRA funds but the city commission has not approved using CRA funds for the stadium. Please explain as this is a major obstacle and your article makes it seem as if this obstacle doesn't exist.

Rabin:
Still researching that. Will update later. At a press conference now.
 

FlummoxedLummox

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Good job, Polo. It's really a shame that reporters need someone else to tell them to be thorough.
 

babaru

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Progress is good.

I'm still not a huge fan that it still hinges on the state. I was under the impression that the financing plan would ultimately find away to not need the money from the state since that's where it's died multiple times before.

I think if they had brought a completed plan to the legislature last year they would have had a chance then, but it was a really messy deal that time. at least they got their sh*t together, meaning the plan... they've learned taking it right before the session ends really doesnt help much.
 

miamibaseball

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their need to put this on table as soon their can. because if their wait like year their will ran out of time.
 

anotherrealfan

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I'm hoping, hoping, hoping-BUT WAIT-There is nothing in the bill about muzzling Samson-rewrite. There is still time for pervert Prez to say something and ruin it.
 

BasesLoadedWalk

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Well, I can only hope for the best because I think that this is their *really* last best chance to get a plan in place and ready to be implemented.

I really don't know if it can fit into that site and whether sites can be found for the juvenile court and the daycare facility.
 

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