Posted February 27, 200718 yr 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!
February 27, 200718 yr 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.
February 27, 200718 yr 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!
February 27, 200718 yr 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.
February 27, 200718 yr 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
February 27, 200718 yr 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.
February 27, 200718 yr 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.
February 27, 200718 yr 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?
February 27, 200718 yr *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.
February 27, 200718 yr 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.
February 27, 200718 yr Good job, Polo. It's really a shame that reporters need someone else to tell them to be thorough.
February 27, 200718 yr 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.
February 27, 200718 yr their need to put this on table as soon their can. because if their wait like year their will ran out of time.
February 27, 200718 yr 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.
February 27, 200718 yr 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.
February 28, 200718 yr I can't help myself. I've been telling you all for over 2 years now as the hopes of fans got dashed time after time. Don't even think about a deal geting announced until Spring of 2007. There was never going to be a deal 2 years ago. Wait for Spring of 2007. There was never going to be a deal last year. Wait for Spring of 2007. There was never going to be a deal until the "loan forgiveness" thing kicked in. Spring of 2007. That has happened, and a deal is now expected to be announced between Feb.15-Apr.1 2007. . . . I do agree with those that have suggested that it would have made more sense financially to close the deal 2 years ago, or last year. But in the end I surmise that Loria just could not resist the money involved in the loan forgiveness clause that MLB gave him......a clause that kicked in just days ago. We'll never know the full details of how MLB worked this deal out with Loria and his subsequent contribution, but I propose that it worked out to both Loria's and MLB's satisfaction. . . I'm not concerned about the state contribution. I do think that it will go through this year but I believe that contingencies have been built into the agreement between Loria and MLB that will cover the shortfall this time, if it is a need that has to addressed. Clearly, it would benefit the franchise and MLB if the tax break did pass. It would also make for one big happy family for all parties involved in a deal for a nice new stadium.
February 28, 200718 yr More good news although we're not there yet. One thing I don't like is the negative press that will be generated because they are moving a daycare and a juvenile court. Those oppossed to the stadium and it's public funding will have a field day with that. All that said, it's looking mighty tasty right now.
February 28, 200718 yr wait for legislature to start next week see what happen let hope their donot wait ontill end of march to put on table
February 28, 200718 yr More good news although we're not there yet. One thing I don't like is the negative press that will be generated because they are moving a daycare and a juvenile court. Those oppossed to the stadium and it's public funding will have a field day with that. All that said, it's looking mighty tasty right now. All true. This is officially IMO the first time to really allow youself to get excited about a deal.
February 28, 200718 yr I wonder where they're gonna put the Tom Lee statue when this thing gets built. :shifty
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