The Real Deal Miami

Stadium financing plan passes

April 08, 2009 11:09AM

The $563 million borrowing plan for the Florida Marlins’ new stadium in Little Havana received the last approval vote needed before Miami-Dade County goes to the bond market to publicly finance the ballpark. County commissioners gave the city manager approval to start borrowing in a mixed vote, but commissioners also raised questions about the ability of hotel tax revenues to cover the stadium costs. The Marlins will contribute $120 million and repay a $35 million county loan, and they will be liable for cost overruns on the $634 million park.