The Real Deal Miami

Further tax slump dims stadium prospects

March 10, 2009 01:14PM

Hotel tax revenues meant to pay for Miami-Dade County’s share of the new Marlins baseball stadium slid 22 percent in January, imperiling some of the financing for the $639 million project. The drop from a year ago was twice as severe as December, and reflected the worst conditions David Feder, managing director of the Fairmont Turnberry Isle Resort & Club in Aventura, said he’d seen in 35 years. But County Manager George Burgess said a year or two of disappointing hotel taxes would not doom the stadium plan.