Florida Marlins stadium financing needs a tourism rally
The Miami Herald analysis found that the next two years are crucial for the stadium financing plan, with modest revenue dips causing shortfalls a decade later -- even if the county's future growth forecasts are correct.
For example, should hotel taxes defy the plan's prediction of a flat 2010 and instead drop another 3 percent next year, the lost revenue would leave Miami-Dade needing an extra $17 million for the ballpark bonds two decades from now.
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Understand that I am not a disinterested observer. I worked for the newspaper for 20 years and know the writers of this report and some of the earlier ones. As a Miamian, though, I am grateful that my daily paper will spend the energy and initiative to dig into what could be a hugely costly public investment.