Dec 12, 2007 9:31 pm US/Eastern
Marlins Mulling Plan For New OB Ballpark
MIAMI (CBS4) ―
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A plane flies over the Orange Bowl during NC State homecoming game, one of the final games played at the historic stadium. Nov. 3, 2007. It may become the site for a new Marlins stadium
Bonnie Laden, CBS4
The bases are loaded and the Marlins management is at bat, and Miami-Dade officials say it's up to them to hit the ball out of the park when it comes to a new home for the team. The latest plan to build a new Marlins ballpark at the Orange Bowl site has been delivered to them.
Miami-Dade manager George Burgess delivered to plan to the team and officials of Major League Baseball Tuesday, joined by 5 county commissioners, and heard from Marlins President David Samson, for the first time, that the team would be willing to play at the site of the soon-to-be-demolished Orange Bowl if a deal can be brokered.
Burgess said the plan, which requires the Marlins to come up with $155 million for the new stadium up front, ``minimizes risk to the county.'' That amount is 3 times what the team was being asked to contribute in past proposals.
However, over time the team would pay less to the county for the stadium, saving about $52 million by capping the team's contribution over time at the $155 million figure.
In past deals, the county would have put up $145 million and created a $162 million bond issue, repaid by the team from ticket sales over the years.
Now, the county will put up $199 million, and $50 million from a bond issue, less that previous plans, but without the team using the ticket sales to help re-pay the county's contribution.
The county says its plan cuts the public money used to build the ballpark from 95 percent to about 70 percent.
The City of Miami would be a key partner, being asked to kick in $121 million in tax dollars.
The city has a stake in this because it lost it's final tenant for the aging Orange Bowl when the University of Miami shifted it's football games from the OB to Dolphin Stadium. Millions earmarked for renovation of the stadium are now available for new construction, after the city decided to tear the old stadium down early next year.
The stadium, now expected to cost over half a billion dollars, would feature the 37,000 seats, 60 private luxury suites, a retractable roof and natural grass. The team would have to handle all cost overruns and pledge to remain in South Florida.
The City of Miami would be required to build a new 6 thousand car parking garage.
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