HomeMy WebLinkAboutexhibit 2- appendix AAppendix A
Orange Bowl Site Ballpark
Financing Plan
Project Costs Ballpark
Ballpark
Parking Garage
Land & Infrastructure
325,000,000
32,000,000
111000,000
Total Costs 367,000,000
Local, Contribution Funding Sources
Florida Marlins (deriveiifrom new ba Ipfirk revenues)
Tearn Rent
Project Equity
1 Ticket Surcharge (paid by Fans)
Parking Revenues
City of Miami
Tourist Development T&ax
Sub Total
Sub Total
127,000,000
20,000,000
10,000,000
157,000,000
32,000,000
32,000,000
28,000,000
Sub Total 28,000,000
Miami -paste County
Convention Development Tax (per Reso 1182-03) 35,000,000
2 Convention Development Tax (FY 2004 base adJ) 24,000,000
3 Convention Development Tax (Arena Sale) 23,000,000
Professional Sports Farllities Franchise Tax 38,000,000
Sub Total 120,000,000
Total Local Contribution 337,000,000
State Contribution
Professional Sports Facilities Sales Tax Rebate 30,000,000
Sub Total 30,000,000
Total Funding
Remaining Project GAP
367, 000, 000
0
Notes:
All figures are shown in 2004 present value arnounts
1. Surcharge Is approximately .70 cents per Ticket starting In 2007; 32 year term
2. Additional future CDT capacity Is generated hy adjusting the FY 2004 CDT base budget ($28M) to a mid year CDT projection
figure MOM): tong term growth projections',3.91/.) remain the same as presented during the November 4, 2003 BCC meeting
3. Additional CDT capacity will be generated as a result of the Miami Arena sale, The sale proceeds used to defease the
MS2A bonds will eliminate the current CDT debt service payments thereby freeing up future CDT capacity