Florida Marlins stadium financing needs a tourism rally

The Miami Herald analysis found that the next two years are crucial for the stadium financing plan, with modest revenue dips causing shortfalls a decade later -- even if the county's future growth forecasts are correct.

For example, should hotel taxes defy the plan's prediction of a flat 2010 and instead drop another 3 percent next year, the lost revenue would leave Miami-Dade needing an extra $17 million for the ballpark bonds two decades from now. Full Story »

Posted by John Hopkins
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Member Tags: U.S. Economy, real estate, baseball
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Posted by: Posted by John Hopkins - Mar 4, 2009 - 1:29 PM PST
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Edited by: John Hopkins - Mar 4, 2009 - 1:29 PM PST

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4.0
by Derek Hawkins - Mar. 4, 2009

Commendable reporting by the Miami Herald -- high marks for enterprise. This analyzes how economic downturn and a slump in tourism could affect plans to fund a new baseball stadium in Miami with hotel taxes. The Herald says the stakes are high: If the plan is enacted and hotel taxes continue to decline, it could cost Miami-Dade County millions of dollars in the long term and force officials to make difficult budget cuts. Not too relevant to outsiders, but the paper's investigation is ... More »

Even though hotel taxes are dropping quicker than forecast, the plan can sustain the decline provided growth returns as planned in 2012, the analysis found. The ... More »

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2.4
by Dwight Rousu - Mar. 10, 2009

The article documents problems in the stadium plan, but never breaches the topic of the whether government should be financing entertainment infrastructure for millionaire owners of professional sports teams.

Government should not be financing pro sports. In a time of evaluation of government roles, this should be evaluated.

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4.0
by Kaizar Campwala - Mar. 4, 2009
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5.0
by John Hopkins - Mar. 4, 2009

This and earlier hard-nosed reporting helped the community look more closely at the likely cost of this high-stakes venture.

Understand that I am not a disinterested observer. I worked for the newspaper for 20 years and know the writers of this report and some of the ... More »

See Full Review » (7 answers)

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