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Stadium News - Sort of

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The Miami-Dade county commissioners have voted, for hopefully, the last time on the stadium issue.

Miami-Dade County commissioners voted for a second and final time on Tuesday on a measure tied to the financing package that will allow the new $640 million Florida Marlins baseball stadium to be built.

Commissioners voted 7-3 in favor of raising Wachovia’s status as a creditor in the financing package. Sally Heyman, Katy Sorenson and Carlos Gimenez voted against the measure.

Wachovia, which is providing up to a $100 million letter of credit, requested that it be paid first from the county’s list of creditors. The county, which plans to sell $454.6 million in bonds, must now price them. The sale is expected to close within the next two weeks.

I guess all that bailout money hasn't been enough for Wachovia, but whatever, they were supposed to be paid either way.

The groundbreaking is set on go and all that remains now is to actually sell the bonds.  And selling the bonds is a big deal since it will provide the funds to actually build the thing.  Shouldn't be a problem, but the money is not in hand yet.  However, it soon should be.