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Stadium News - Sort of



Miami-Dade wants to push the funding deadline into July.

Miami-Dade County wants to push back, by a few days, the closing date for financing the baseball stadium deal it struck with the city of Miami and the Florida Marlins, citing a change to how some financing fees are paid.

If commissioners approve the change, the three parties would have until early July to close on financing, instead of the end of June. Miami-Dade County and the parties also will be given until July 15, instead of July 1, to pull out of the deal.

The change that financing institution Wachovia is requesting would affect the way the letter-of-credit fees are paid. But, it would not impact the projected financing expenditures the county commission already has reviewed, according to a statement from County Manager George Burgess.

 

This shouldn't be problem other than it will delay construction another two-weeks.  As we all know by now, nothing comes easy where the stadium is concerned.