Stadium's Cost in Higher Miami Property Taxes Raises Some Questions.

Publication: The Miami Herald (Miami, Florida) (via Knight-Ridder/Tribune Business News)

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COPYRIGHT 2001 The Miami Herald

Byline: Gregg Fields

May 31--If the latest proposal to finance a Marlins stadium goes to a referendum, Miami residents will be asked to consider a simple proposition:

Are they willing to let the city borrow the equivalent of nearly $900 for every resident as part of a package to fund a professional baseball stadium and other civic improvements?

If the answer is yes, the city's property owners will pay on that debt for several decades to come.

But before city leaders can go forward, they will have to get the blessing of Wall Street, where the reception will likely be mixed -- at best.

The financing effort could be forced to pay above-market interest rates and face a skeptical Wall Street -- as well as a lack of confidence from investors still wary about the...

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