Barry Petchesky | Miami Herald
January 24, 2013
The Miami Marlins new stadium was funded in part by using money provided by Miami-Dade County. As part of the deal Miami-Dade borrowed more than $400 million by selling bonds. One particular set of stadium bonds valued at $91 million in 2009 will require the County to repay $1.2 billion by 2045. When Miami-Dade County borrowed the money in 2009 the market was essentially frozen leaving the County with few options other than to accept a less than favorable repayment structure. These problems are discussed in light of the Miami Dolphins request for aid to complete upcoming stadium renovations. To read more on this topic, view the original article:
http://www.miamiherald.com/2013/01/24/3199018/how-a-91million-loan-on-the-marlins.html
