The vote to allow for the increase of county funds for the stadium is on tomorrow's agenda for the county commission meeting. I found this part of the county manager's memo to be interesting:

The financing plan as presented with the preliminary term sheet requires the Marlins, City and County all to increase their commitments and contributions to the ballpark project. In addition, a funding contribution from the State was included as the final $30 million needed to complete the financing plan. As you are all aware, State participation for the ballpark project was not approved by the end of the legislative session last Friday. While the City Manager and I feel the ballpark project can be successful in securing State participation next year, especially if a well packaged funding request is submitted at the beginning of the legislative session, the Marlins are now faced with deciding how they are going to proceed with the project.

 

At this point, recognizing the decision the Marlins are faced with and that the project now has a $30 million funding gap, I still believe it best for the County to proceed in approving the preliminary term sheet and an increase in the County's CDT funding contribution. The City Manager has indicated he is recommending the same type of action from his Board at the May 6, 2004 City Commission meeting. Moving forward in this direction will continue to show the County's and City's commitment to the Marlins and to the future of baseball in South Florida, and it will also allow the County and City to continue to negotiate agreement terms with the Marlins should the Marlins determine to proceed with the project. Thus far, I have not had any indication from the Marlins that would suggest they are not fully committed to the project.

 

If you want to read more, go to http://www.co.miami-dade.fl.us/govaction/m...earFolder=Y2004

This was interesting as well:

 

If the Miami Arena is sold, the sale proceeds estimated to be $25 million, along with any CDT monies held in reserve by the Miami Sports and Exhibition Authority will be used to defease the outstanding debt owed on the Arena. Once this takes place, CDT will no longer be needed to pay for the Arena debt service thereby freeing up CDT capacity to be used on other eligible projects such as the ballpark project. The City appears confident the sale will be completed by the end of May.

 

That's only a few weeks away, and is one of the key elements of the plan. So we should have a good indication if the plan is going to come together by early summer.

If all of that is true, perhaps a October or November groudbreaking is possible :mischief2