Miami Commission vote on soccer stadium deal shouldn’t be a rush job
The Miami Herald recently criticized the city of Miami’s process to approve a soccer stadium in Melreese Country Club.
This process is the same one approved by the City Commission and, most important, more than 60 percent of Miami voters.
A resounding excitement surrounds the arrival of a MLS team in Miami. I see and hear the enthusiasm from residents and visitors every day to bring this global sport to Miami. Even the Miami Herald Editorial Board saw the value when they recommended Miami residents vote Yes in Oct. 27, 2018.
Most of us want soccer in Miami. But we want it done right. On Nov. 12, the Commission will be voting on a deal that would, in part, build a soccer stadium in Melreese Country Club as a component of Miami Freedom Park. This vote is premature at best.
Currently, blanks exist in critical areas throughout the deal that serve as determining factors in the negotiation process, including establishing base minimum rent.
Also, a number of actions required, many of which were proposed and approved by commissioners themselves, are still being worked on. This includes determining fair market value. Identifying fair market value is especially critical to this deal. When the voters approved a floor, or minimum requirement to bring soccer to the city, it included the greater of fair market value or 5 percent of the gross receipts, but not less than $3,577,000 in annual rent.
This fair market value is being determined by two independent appraisal firms, Deloitte and Houlihan Lokey, which will be subject to a peer-review process established by the Commission. It’s the gold standard for deals of this nature. This process requires a third independent company, KTR, to review the appraisal and advise the commission as to the most appropriate appraised value.
These actions take time. And this deal is too significant to the future of our city to compromise it. What is at stake is the opportunity to bring a global sport to Miami; create the largest public park in the city; generate tens of millions in new tax revenue, which includes real estate taxes directly to the city, county and School Board; thousands of high-paying jobs; a
Tech Hub that will serve as Miami’s first sustainable effort to attract the tech industry; and, of course, a state-of-the-art soccer stadium.
There is not a soccer stadium in the country that pays rent and realestate taxes. In fact, overwhelmingly, soccer requires tax dollars to subsidize stadium construction. The business plan also builds well below the property’s maximum allowable use, creating true public green space that does not require residents to pay a $75 entry fee on publicly owned land. The commission has the power to create a sense of place unlike any other in Miami, one that will not only provide access to mass transit, but also use rebuilt existing roads equipped to maximize entry and departure.
This is a defining moment for our city. The voters have spoken. They have approved this very process, a transparent one open to public input. Whether you love sports, want more green space, or simply love Miami, we cannot afford to put all of this at risk by rushing the process and prematurely bringing it up for a vote.
We must carry out the will of our residents, but we must also do it in the way they intended — the right way.