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Week of May 06, 2004 |
| Marlins' stadium deal includes 2,500-space parking garage
By Susan Stabley The Florida Marlins' deal with city and county leaders for a new baseball stadium includes a 2,500-space, $32 million parking garage the team would develop and operate, according to the proposal outlined last week by Miami-Dade County Manager George Burgess. "It just makes sense for the Marlins to control it," said Art Noriega, executive director of the Miami Parking Authority, which manages five garages, 42 surface lots and more than 7,900 parking meters. A parking garage at the ballpark would be different than the type that serves downtown and those controlled by the authority, he said. "It's really a different design," Mr. Noriega said. "You need a lot of lanes to get people in and out in a hurry." Under the plan, the stadium parking garage would be along Northwest Seventh Street and owned by the city. The Florida Marlins would use stadium revenues to pay off debt for the structure and be able to keep garage and surface-parking revenues on game days. For non-game events, the city and the team would share proceeds. City of Miami and Miami-Dade County officials are finishing off a financing package for a $325 million retractable-roof stadium along Southwest 17th Avenue next to the Orange Bowl. The ballpark, which is proposed to have 38,000 seats, an aquarium and a community center, would not be physically connected to the older stadium, an earlier proposal pushed by Miami Mayor Manny Diaz. With land-acquisition costs expected to be another $10 million, the total deal would be worth $367 million. To pay for the ballpark, the Marlins have pledged $127 million in rent, $20 million in equity and $10 million to be raised through a ticket surcharge of about 70 cents a ticket. The city would kick in $28 million from a tourist-development tax. The county has pledged $35 million from its Convention Development Tax fund, $38 million from its Professional Sports Franchise Facilities Tax and $47 million more from the Convention Development Tax if it can sell Miami Arena. The team also is seeking $30 million from the state through a sales-tax rebate. That request probably will have to wait until the Legislature convenes for its next regular session next spring. This year's session ended Friday. The ballpark would be managed, operated, marketed and maintained by the team, and any cost overruns would be the Marlins' responsibility, according to the deal. The land needs to be assembled, according to documents. City Commissioner Johnny Winton said the most important detail of the deal was tying the team to the ballpark. "We have a guarantee for the life of the bond that we'll have a team," he said Tuesday. The city and the county would share profits if the team were sold, he said. "If the team is sold at a profit and or refinanced, there is a formula to get some money back to the public." |
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