September 15, 200521 yr The Miami Herald reports today that the cost of the new Performing Arts Center has skyrocketed to $446 Million. Article here. The County Manager is asking for another $35 Million after the $67 Million he got last year. Now color me naive but what's the difference between a performing arts center and a ballpark. They are both public venues that have private tenants. If anything baseball is much more accessible culturally and financially for Dade County's residents. Why don't we hear the same platitudes about the schools and the transit system when the county manager asks for $100 million for cost overruns on this white elephant? And Loria is not only guaranteeing almost $200 Million he's also guaranteeing cost overruns (which I suspect will be low given that this is a semi-private vs. public project). I love that they can scramble and get $35 million at the drop of the hat so they can open their PAC on time and have their black tie gala but not to build something that much more of the community will enjoy and add visibility and prestige to our city. When was the last time they broadcast 3 hours of national TV from a performing arts center?
September 15, 200521 yr basically, the city is managing the perfromind arts project and they can get their hands on the pot a lot easier. Perfect scenario to run away with some money and be wasteful On the ballpark, the Marlins are covering cost overruns and are demanding that they manage the project. Very little room for the politicos to help their buddies, etc.
September 15, 200521 yr they propose to have the PAC borrow the $34.4 million from Miami-Dade County and pay it back The Performing Arts Center Foundation, a private group already raising $85 million toward arts center construction and operating expenses. The foundation has agreed to raise an extra $1.5 million a year for 20 years for the PAC cost increase. Just some notable things.
September 15, 200521 yr Author Yeah and what about the penny sales tax that was supposed to go to transportation but ended up paying a defecit? Just cuz they say they are going to pay it back doesn't mean they will. It's an internal game of 3 card monty. And $85 Million is a lot less than $200 Million for projects that will end up costing roughly the same.
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