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Stadium News - Sort of

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Miami-Dade sold the bonds and came up just a bit short of the money needed to finance the stadium.

Sarah Talalay has the story.

Miami-Dade County fell short by $6.2 million in its effort to sell bonds for a new Marlins ballpark Tuesday, but site preparation work is expected to begin Wednesday morning at the former location of the Orange Bowl.

Although the shortfall in the bond sale threw the ballpark deal into disarray for several hours Tuesday night and into early Wednesday, the deal appeared to be back on track, after the Marlins agreed to fill the gap should the dollars be needed to complete the 37,000-seat retractable roof ballpark.

What it amounts to is that the county had to sell some of the bonds at a higher interest rate than anticipated and it exceeded the amount of money they had approved to put on the table.  David Samson said that when the Marlins agreed to cover all cost overruns it includes this one.  He also said the Marlins wouldn't build the stadium on the cheap just because a cost overrun happened early.

I hope he stays true to his word.  The official groundbreaking is on July 18.