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Miami-Dade County staff and the Florida Marlins have reached a tentative stadium funding agreement. But it still needs to be approved by the city and county managers before going to commissioners.

 

BY BARRY JACKSON

 

bjackson@herald.com

 

Negotiators for Miami-Dade County and the Florida Marlins have reached an ''agreement in principle'' on funding for a $420 million ballpark next to the Orange Bowl that would give the county and city of Miami a lien on the franchise if the team can't cover cost overruns, Miami-Dade County Tax Collector Ian Yorty said Thursday.

 

Yorty, the county's chief negotiator on the deal, said they hope to complete a written document by early next week for the retractable-roof stadium. The ''memorandum of understanding,'' which would be non-binding and not a final version of the agreement, must still be approved by City Manager Joe Arriola, who voiced no objections Thursday, and County Manager George Burgess.

 

It would then have to be approved by the city and county commissions.

 

The funding plan still has a $30 million gap. Next month, the Marlins will ask the state Legislature for a $60 million sales tax rebate over 30 years, which would allow the team to borrow $30 million to use toward stadium financing.

 

''This is good enough to take to Tallahassee and see what happens,'' Arriola said of the latest proposal.

 

Burgess could not be reached late Thursday. Marlins executives had no comment.

 

The Marlins have failed in two previous attempts to secure state money. Senate President Tom Lee, R-Brandon, said he would do his ''level best'' to give the Marlins a fair shot to plead their case. But Lee has said the Marlins must complete their deal with the county before going to the state.

 

The agreement with the city and county had been delayed for months, largely because of negotiations over how the Marlins would pay for potential cost overruns. The Marlins were asked for a letter of credit, but the team felt that ''was onerous,'' Yorty said.

 

Instead, the Marlins agreed to give the city and county a lien on the franchise. That would allow local government to seize control of the team -- for the purpose of selling it -- if the Marlins are unable to cover cost overruns.

 

Additionally, Arriola said the Marlins have agreed to seek another cost overrun guarantee, worth $10 million, from Major League Baseball, and are awaiting a response.

 

As part of the deal, the team has agreed to contribute $192 million and eventually change its name to the Miami Marlins.

 

Miami-Dade and Miami last year pledged a financial contribution.

 

The city also will provide the land next to the Orange Bowl, as well as help finance a $32 million, 2,500-space parking garage.

 

Burgess will ask the commission to vote on the issue at the next full meeting on March 1 -- the last time the commission will be able to discuss the multi-million-dollar Marlins stadium before the start of the legislative session.

 

Herald staff writers Tere Figueras, Marc Caputo and Michael Vasquez contributed to this report.

 

http://www.miami.com/mld/miamiherald/sports/10812027.htm

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Its a good thing because for this first time, all the cards are officially lined up for the team to go the Tallahassee the proper way. In the past theyve half assed the state badly. Now they can truely and inquestionabily say its all on you state, we are 30 million apart...come on now. Lets hope thats enough to convince Lee.

 

 

I hope they know what they are doing with the land, parking and all that stuff.

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Two sources now:

 

LINK

 

Marlins, Dade reach tentative deal on ballpark next to Orange Bowl

 

By Sarah Talalay

sun-sentinel.com

Posted February 4 2005, 11:45 AM EST

 

MIAMI -- The Marlins, Miami-Dade County and city of Miami have reached "an agreement in principle" to finance a $420 million ballpark east of the Orange Bowl that they plan to bring to county and city commissioners for approval within the next month.

 

Officials are still putting the finishing touches on a "Memorandum of Understanding" between the three parties on how to fund the construction of a 38,000-seat, retractable roof ballpark and parking garage, said Miami-Dade County Tax Collector Ian Yorty, who is overseeing the plan for the county.

 

"We've concluded our negotiations with the Marlins and we're still working on minor aspects," Yorty said.

 

County Manager George Burgess is scheduled to give a report on the baseball stadium proceedings to a committee of the county commission on Wednesday and a vote of the full commission is expected on March 1. The city commission will likely consider the deal later this month.

 

The Marlins have agreed to kick in $192 million with the county pledging $138 million in hotel bed and sports facilities taxes and the city promising $28 million in tourist development taxes. The $32 million garage is expected to pay for itself through parking fees.

 

The team has vowed to fund cost overruns through a variety of methods, including a lien on the franchise. The team will need to request a $10 million guarantee from Major League Baseball, but that might not be forthcoming.

 

The Marlins are hoping with local approval, that all three parties will travel to Tallahassee to lobby state legislators -- during their session beginning March 8 -- for a $60 million state sales tax rebate spread over 30 years to cover the final $30 million gap in construction funding. Legislative leaders and Gov. Jeb Bush have said they are willing to listen to the Marlins, if the team brings a completed local financing plan.

 

If approved, the "Memorandum of Understanding" will serve as a road map for a full legal agreement that will spell out all the terms and conditions of the ballpark construction and maintenance.

 

Also as part of the deal, if the ballpark is built, the team would be renamed the Miami Marlins.

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02/04/2005 10:41 AM ET

Report: Agreement on Marlins park

By Joe Frisaro / MLB.com

 

MIAMI -- The Marlins have made a major breakthrough in their quest for a baseball-only, retractable-roof stadium next to the Orange Bowl in Miami.

According to the Miami Herald, an "agreement in principle" has been reached for the proposed $420 million stadium.

 

For well over a year, Marlins president David Samson has been in negotiations with the city of Miami and Miami-Dade County for a new home for the franchise that has won two World Series titles since their inaugural 1993 season.

 

Marlins officials have not yet commented on the report.

 

The Herald reported in its Friday edition that progress has been made on the issue of overrun costs.

 

According to Miami-Dade County tax collector Ian Yorty, the county and city of Miami would take a lien on the franchise if the Marlins can't cover the overrun costs.

 

The agreement reached Thursday must be approved by the city and county managers before going to commissioners. That process is expected to take about a week.

 

Once the local portion of the stadium deal is finalized, the Marlins plan to seek the final $30 million from the state when the legislature opens next month. The team is asking for $60 million in a sales-tax subsidy that would give the club $2 million a year for 30 years.

 

When the Marlins formally announced the signing of free agent slugger Carlos Delgado on Jan. 27, Samson said that day the team was "on the cusp" of finalizing the local stadium deal. Samson added then that he expected an announcement with the next 30 days.

 

The Marlins are negotiating a 38,000-seat stadium, and the roof, they say, is essential because of the extreme heat and unpredictable rain patterns in South Florida.

 

The Marlins are contributing $194 million to the stadium, the fourth-largest contribution ever by a baseball team.

 

Finalizing a stadium deal is pivotal for the long-term security of the franchise in South Florida. The team has shared Dolphins Stadium with the NFL's Dolphins since 1993. The Marlins have a series of one-year leases with Dolphins Stadium that expires in 2010. In December, Dolphins owner H. Wayne Huizenga, who owns the current ballpark, said he wasn't renewing the lease with the Marlins.

 

The Marlins are hopeful to be in their own stadium no later than Opening Day 2008.

 

Last year, the Marlins had their pitch for state help shot down. But the team believes the climate is different, as 2005 is a non-election year. Also, when the Marlins sought the state-tax subsidy, they didn't have a concrete plan or definitive location for a new stadium.

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02/04/2005 10:41 AM ET

Report: Agreement on Marlins park

By Joe Frisaro / MLB.com

 

MIAMI -- The Marlins have made a major breakthrough in their quest for a baseball-only, retractable-roof stadium next to the Orange Bowl in Miami.

According to the Miami Herald, an "agreement in principle" has been reached for the proposed $420 million stadium.

 

For well over a year, Marlins president David Samson has been in negotiations with the city of Miami and Miami-Dade County for a new home for the franchise that has won two World Series titles since their inaugural 1993 season.

 

Marlins officials have not yet commented on the report.

 

The Herald reported in its Friday edition that progress has been made on the issue of overrun costs.

 

According to Miami-Dade County tax collector Ian Yorty, the county and city of Miami would take a lien on the franchise if the Marlins can't cover the overrun costs.

 

The agreement reached Thursday must be approved by the city and county managers before going to commissioners. That process is expected to take about a week.

 

Once the local portion of the stadium deal is finalized, the Marlins plan to seek the final $30 million from the state when the legislature opens next month. The team is asking for $60 million in a sales-tax subsidy that would give the club $2 million a year for 30 years.

 

When the Marlins formally announced the signing of free agent slugger Carlos Delgado on Jan. 27, Samson said that day the team was "on the cusp" of finalizing the local stadium deal. Samson added then that he expected an announcement with the next 30 days.

 

The Marlins are negotiating a 38,000-seat stadium, and the roof, they say, is essential because of the extreme heat and unpredictable rain patterns in South Florida.

 

The Marlins are contributing $194 million to the stadium, the fourth-largest contribution ever by a baseball team.

 

Finalizing a stadium deal is pivotal for the long-term security of the franchise in South Florida. The team has shared Dolphins Stadium with the NFL's Dolphins since 1993. The Marlins have a series of one-year leases with Dolphins Stadium that expires in 2010. In December, Dolphins owner H. Wayne Huizenga, who owns the current ballpark, said he wasn't renewing the lease with the Marlins.

 

The Marlins are hopeful to be in their own stadium no later than Opening Day 2008.

 

Last year, the Marlins had their pitch for state help shot down. But the team believes the climate is different, as 2005 is a non-election year. Also, when the Marlins sought the state-tax subsidy, they didn't have a concrete plan or definitive location for a new stadium.

677162[/snapback]

 

Wow! That's huge!

 

:arms

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02/04/2005 10:41 AM ET

Report: Agreement on Marlins park

By Joe Frisaro / MLB.com?

 

MIAMI -- The Marlins have made a major breakthrough in their quest for a baseball-only, retractable-roof stadium next to the Orange Bowl in Miami.

According to the Miami Herald, an "agreement in principle" has been reached for the proposed $420 million stadium.

 

For well over a year, Marlins president David Samson has been in negotiations with the city of Miami and Miami-Dade County for a new home for the franchise that has won two World Series titles since their inaugural 1993 season.

 

Marlins officials have not yet commented on the report.

 

The Herald reported in its Friday edition that progress has been made on the issue of overrun costs.

 

According to Miami-Dade County tax collector Ian Yorty, the county and city of Miami would take a lien on the franchise if the Marlins can't cover the overrun costs.

 

The agreement reached Thursday must be approved by the city and county managers before going to commissioners. That process is expected to take about a week.

 

Once the local portion of the stadium deal is finalized, the Marlins plan to seek the final $30 million from the state when the legislature opens next month. The team is asking for $60 million in a sales-tax subsidy that would give the club $2 million a year for 30 years.

 

When the Marlins formally announced the signing of free agent slugger Carlos Delgado on Jan. 27, Samson said that day the team was "on the cusp" of finalizing the local stadium deal. Samson added then that he expected an announcement with the next 30 days.

 

The Marlins are negotiating a 38,000-seat stadium, and the roof, they say, is essential because of the extreme heat and unpredictable rain patterns in South Florida.

 

The Marlins are contributing $194 million to the stadium, the fourth-largest contribution ever by a baseball team.

 

Finalizing a stadium deal is pivotal for the long-term security of the franchise in South Florida. The team has shared Dolphins Stadium with the NFL's Dolphins since 1993. The Marlins have a series of one-year leases with Dolphins Stadium that expires in 2010. In December, Dolphins owner H. Wayne Huizenga, who owns the current ballpark, said he wasn't renewing the lease with the Marlins.

 

The Marlins are hopeful to be in their own stadium no later than Opening Day 2008.

 

Last year, the Marlins had their pitch for state help shot down. But the team believes the climate is different, as 2005 is a non-election year. Also, when the Marlins sought the state-tax subsidy, they didn't have a concrete plan or definitive location for a new stadium.

677162[/snapback]

 

Wow! That's huge!

 

:arms

677165[/snapback]

 

 

hahaha i am more accurate hooo hooooo hoo hoo hoooooooo:notworthy

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My god. Just cut the guy's throat for posting this thing then. :rolleyes:

677083[/snapback]

well, he does do this pretty often with his thread titles.

 

accord, you should work for channel 7 bro :thumbup

677085[/snapback]

You're confusing me with PhishPan or whatever his name is :mischief .

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I hope they don't change the name to Miami Marlins, because then the franchise loses a sense of continuity. The name also has too much alliteration.

 

But as long as the Marlins get the stadium taken care of, I can live with it.

677272[/snapback]

If it's going to be Las Vegas Marlins or Miami Marlins, I'm sure people in Broward can live with Miami.

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I will love the change to the Miami Marlins!!!!!! Of course, I am a Miami guy. ;-)

677173[/snapback]

 

:thumbdown

 

 

 

I wish they would keep it the way it is... Florida Marlins sounds so much better than Miami Marlins!

 

They should call them the South Florida Marlins :lol Not just Miami roots for the Marlins! :thumbup They are leaving Ft. Lauderdale and Palm Beach out :crying

 

 

I will still call them the Florida Marlins even if they change their name :thumbup

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According to Miami-Dade County tax collector Ian Yorty, the county and city of Miami would take a lien on the franchise if the Marlins can't cover the overrun costs.

 

 

Does this mean that miami dade is willing to give the final $30 0r $60 millions and keep the stadium in case loria sell the franchise right????

677178[/snapback]

 

No but its interesting you bring it up. I think the 30-60 million they want from the state is not to cover cost overrusn but rather the realization that its gonna cost 420 million and they only have like 390 million between the Marlins and local govt. I believe the city gets a lien on the team for money in addition to that-like if the stadium ends up costing $500 million. Depending on what they do end up getting from the state, the excess becomes the cost overrun. If the team doesnt cover it, I think then the city would cover it and take a lien. The team wont want a lien, trust me. Its a great disincentive for the team to just cover the cost overruns. But we definatley still need the state from what I can tell.

 

Thats my interpretation of it. Anyone else think its something else or is that what others think it is too?

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