Marlins, County and City Agree on Stadium Deal
The Marlins, Miami-Dade County, the city of Miami and Major League Baseball reached agreement late Friday to finance a $515 million ballpark at the site of the Orange Bowl, according to a source.
The agreement was not released, but was expected to be distributed to county and city commissioners, who will need to approve it. The city has scheduled a special commission meeting to consider the deal at 9 a.m. Thursday; the county commission is to meet at 1 p.m. that day.
The deal calls for the county and city to contribute $360 million mainly in tourist taxes and a $50 million general obligation bond Miami-Dade voters approved in 2004 to renovate the Orange Bowl, but which will instead be moved to the ballpark project.The Marlins are to contribute $155 million.