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Front Page » Government » County won’t seek full rent on land at arena

County won’t seek full rent on land at arena

Written by on May 19, 2015
County won’t seek full rent on land at arena

Miami-Dade won’t collect what an appraisal says is 187% more than it now does on four waterfront acres behind American Airlines Arena. Commissioners were to raise fees Tuesday to do business on the county-owned site called Parcel B, but a number of commissioners voted no, saying that didn’t set a lower non-profit rate.

Currently, the county issues permits to stage arena events to concert operators and Basketball Properties Inc., a Miami Heat entity that manages American Airlines Arena.

On July 17, 2014, the commission asked the mayor to have an appraiser find the fair market value of the property and use it to propose a fee schedule for third parties using it.

Realty brokerage CBRE’s appraisal showed the county could collect about $230,000 a year, 187% more than it gets now. On March 10, the Strategic Planning and Government Operations Committee approved new fees 6-0:

•A $2,000 deposit for valet parking and $4,000 a day.

•A $2,000 deposit for concert staging and $1,100 a day.

•A $5,000 deposit for circus staging and $1,300 a day.

•A $5,000 deposit for carnivals and $18,000 a day.

•A $5,000 deposit for concerts held there and $36,000 a day.

•A $2,000 deposit for parties and $2,500 a day.

The committee recommended that the full commission approve. On April 21, however, the commission voted 10-1 to defer discussion.

Commissioner Audrey Edmonson, who represents the area, was the first Tuesday to say she couldn’t support the increase because Parcel B was the only property being singled out. “This parcel is no more unique than any other except it’s on the water,” she said. “I’m not going to support [the fee schedule] unless we do this everywhere.”

One Response to County won’t seek full rent on land at arena

  1. Brian

    May 26, 2015 at 8:59 am

    Looks like a good location for a soccer stadium…