Tuesday, October 14, 2008

Opponents and Supporters Say Stadium May be Delayed

'Some stadiums themselves are in jeopardy, opposed by taxpayers and
public officials who don't think investments in sports facilities are
justified in the current climate. In Florida, construction of a new
ballpark for Major League Baseball's Marlins that was supposed to start
this fall probably will have to wait for better economic times.

'Katy Sorensen, one of the commissioners of Florida's Miami-Dade County,
said she expects support for the $515 million Marlins ballpark to
dissipate. Florida's real-estate market is one of the hotspots in a
foreclosure crisis that helped to bring down several major banks and
spark a selling frenzy in global markets.

'Financing for the proposed stadium relies partly on bonds financed with
hotel and tourism taxes. Ms. Sorensen said in the current economy it
isn't clear whether the county would have enough money to cover the
debt.

'"Everybody is a little skittish right now," added Ms. Sorensen, who has
always opposed the project. "It's going to be a tough sell to the
public to approve something like this."

'The Marlins declined to comment. Bruno Barreiro, the county
commission's chairman and a supporter of the project, said he hopes to
submit a final deal for a vote in coming months, but he acknowledged
that securing financing for the project might take a while.

'"We have to wait until the market stabilizes," he said.' (wsj.com)

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