Miami Commissioners Pass Inter Miami CF Stadium Deal
May 16, 2022
On Apr. 28, Miami Commissioners passed a deal agreeing to transform a golf course owned by the City of Miami into an enormous commercial center and stadium for the Inter Miami CF soccer team.
Melreese Public Golf Course will be completely renovated and transitioned into a soccer stadium and converted into a hotel, park, office space and shopping plaza. Inter Miami CF’s stadium deal comes at no cost to taxpayers since the project is 100% privately funded.
City Commissioners voted 4-1 in favor of the deal, and Commissioner Manolo Reyes composed the opposing vote. The final decision rules in favor of building the park, but commissioners have made a few adjustments to the deal in order to accommodate the city of Miami fully.
Commissioner Ken Russell pushed for several agreements including an $18-hour living wage for every employee working on the site, as the stadium can potentially create up to 15,000 new direct and indirect jobs. Inter Miami estimates this stadium to pay about $40 million each year in property taxes with an additional $10 million a year on lease payments.
Miami Commissioners see the Miami Freedom Park as a way to further benefit the city of Miami by creating a space for members of the community to participate in.
Miami Freedom Park will:
- Create a 100% funded project.
- Create the largest park in the city.
- Pay 57% over Fair Market Value rent to the city.
- Contribute an additional $25 million to public parks.
- Contribute $6.3 billion in rent to the city.
- Create 15,000 new direct and indirect jobs.
- Lease 73 acres from the city.
- Contribute over $40 million in annual tax revenue to the City of Miami, Miami Dade County, State of Florida and Miami Dade County Public Schools.