Fins Vow To Pay County For Stadium In 30 Years
TALLAHASSEE (CBSMiami) – Eventually, the Miami Dolphins may just write a check for the full amount of the planned renovations to Sun Life Stadium. The team promised Wednesday to pay back some money to the state if taxpayers help pay for the renovations.
State legislators that are pushing the bill to pay for renovations to Sun Life Stadium said the team agreed to reimburse the state 30 years from 2013. The Florida Legislature is considering a bill to provide $3 million a year to help fund the modernization by providing a sales tax rebate for some items sold at the stadium.
The Dolphins would repay roughly $167 million in public money including $120 million to Miami-Dade County and $47 million to the state. The total cost of the renovation is expected to be at least $389 million. The Fins plan reportedly means there will be no public debt or debt service.
“We are not only committed to bringing Super Bowls, BCS Championships and international soccer to Miami by modernizing Sun Life Stadium, but we are also committed to crafting a fair and advantageous agreement for taxpayers,” Dolphins CEO Mike Dee said.
The move by the Dolphins is just the latest in a series of announcements regarding the stadium renovation plan. The Fins said they would pay for the referendum vote if it’s legal and agreed to pay $100 million in penalties if Sun Life Stadium doesn’t get Super Bowls, BCS games, soccer matches and more over the next 30 years.
The Fins have also pledged a 30-year non-relocation agreement with Miami-Dade to keep the team in South Florida.
No referendum vote has been scheduled for the voters in Miami-Dade County to make the final decision on publicly helping finance the renovations to Sun Life. The voters are still stinging over the Marlins Park deal which will make passing the deal through an election even tougher.
Norman Braman has once again taken the lead in fighting the publicly funded stadium, but he’s being met by fierce resistance from the Dolphins who say the current deal is nothing like the boondoggle that was Marlins Park.
(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)