A Slam Dunk Deal Renews the Miami Heat's Arena Lease
by Sep Niakan | June 09, 2014
The Miami Heat is taking on the San Antonio Spurs in the NBA finals, but they're not the only ones taking on a major challenge. The Heat's front office was successful in the County Hall on May 3.
County commissioners approved a new AmericanAirlines Arena lease for the Heat with a 10-2 vote.
The agreement is, the team must provide the county with $1 million for its parks, then the county will grant an additional five years to the lease.
Miami-Dade county will keep providing the Heat with $6.4 million in hotel taxes every year until 2030, when the provision increases to $8.5 million for five years.
A profit-sharing deal that was part of the original arena lease in 1997 was not renewed in the new deal.
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by Sep Niakan | October 31, 2016
From a humble 9-to-5 district to after-dark playground for the it-crowd, Downtown Miami has had quite a turnaround in the past decade or so. According to the latest Miami Downtown Development Authority report, there are now 88,540 residents in...