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Dolphins, Mayor Agree on Stadium Renovation Funding

The Miami Dolphins and Miami-Dade County Mayor Carlos Gimenez finally came to an agreement last night on a deal that would give the team public funding to assist in their $350 million planned renovation of Sun Life Stadium.

This deal likely includes a raise of hotel tax from 6% to 7% in the Miami area. Now, the Dolphins will rely on approval from Florida Legislature. A referendum will be held on May 14th, as Miami-Dade citizens will either vote yes or no on the project.

If the public approves the deal, the Dolphins’ renovation efforts can begin. Renovations that are said to include a canopy to keep fans dry and in the shade, large video screens, and seats 18 feet closer to the field, would likely lead to the city of Miami landing Super Bowl 50 or 51 and it would also keep the Dolphins from relocating for the next 30 years.

During those 30 years, the Dolphins are promising at least four Super Bowls, four BCS National Championship games, and 22 international soccer matches.

Team owner Stephen Ross released a statement last night about the deal:

“We are proud to join Mayor Gimenez in agreeing to an unprecedented public-private partnership that will modernize Sun Life Stadium and protect property tax payers, while helping secure the future for Super Bowls, college championships and international soccer in Miami-Dade. The future is also brighter for the University of Miami Hurricanes and the Orange Bowl.

“We look forward to working with the County Commission to ensure that the voters of Miami-Dade have the final say on creating more than 4,000 jobs and pumping millions of dollars into the local economy. When the people of Miami-Dade go to the polls, we are confident they will support this partnership, where the Dolphins will pay approximately 70 percent costs, will repay approximately $167 million to the state and county, will pay for 100 percent of any cost overruns during construction, and will be committed to staying in Miami-Dade for the next 30 years.

“I want to thank Mayor Gimenez and his team for their hard work and commitment to bringing jobs and opportunity to the people of Miami-Dade. This is truly an unprecedented agreement, and the Mayor deserves tremendous credit for making it happen. I love this community and nothing would make me prouder than watching the Miami Dolphins play a Super Bowl in a modernized Sun Life Stadium. That’s more than a dream for me — it’s a goal I will work toward every day. I know that together we can make it happen.”

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