Marlins new stadium plan approved
The Florida Marlins have spent eight frustrating years trying to find a long-term home, and they’ve finally found it without having to move the team. City and county officials both signed off on the deal to approve a new stadium for the Marlins. As the only thing standing in the way, the Marlins will still have to give the Miami-Dade County Commission an agreement on a “formula for determining security-personnel use between the county and City of Miami” within 30 days.
The stadium cost is estimated at $525 million, and the city agreed to build an on-site parking lot that will provide parking to 6,000 vehicles at an additional approximate cost of $94 million. The county will pay $347 million with a large portion of it coming from tourist-tax revenues. The Marlins will contribute $155 million to the project, receiving $120 million in loans and money fronted by county and city officials that will be paid back through yearly rent payments.
Construction on the new stadium is scheduled to begin in November, with the team moving into their new home for Opening Day 2011, after their current Dolphins Stadium lease will expire. When the team moves into their new stadium, they will be known as the Miami Marlins.
Filed under: Florida Marlins