David Beckham and Jorge Mas are agreeing to concessions, ahead of a key commission meeting tomorrow on their $1b project.
Mas told the Herald yesterday that he would seek state and federal funding for cleanup of toxic waste known to be buried at the park site, instead of city funding. He implied that he has set aside some funding for cleanup, but doesn’t yet know the cost (Mas said last week it could cost over $100 million.)
Other concessions made by Mas:
Will pay 1 percent of gross proceeds to the city if any of the buildings to be developed are sold
Will pay an unspecified percentage of revenue from operations, in addition to $3.5 million rent
Will hold community meetings with neighbors of the park for the first time
Still unknown is where the developers will replace up to 73 acres of lost green space, as required by city law under a No Net Loss of Park Land policy. Mas is said to have been considering using the Underline for this purpose, something Commissioner Ken Russell said he would not accept.
Also unclear is who will fund cost of building the 3,750 space parking garages and surface lots. For the Marlins, the city issued around $100 million in bonds for garages with 5,700 spaces.
Cost responsibility for other infrastructure, including roadways in and around the park, also has yet to be clarified.
Mas is pressuring the city to act fast, claiming he is required by MLS to begin construction by October 2019 or the city could lose the franchise – reminiscent of the Marlins claims they would move to San Antonio in 2009.
In contrast to Mas, Beckham assured fans at a rally last week that he would be bringing a team to Miami “no matter what.”