County Approves New Heat Deal

In a 10-2 vote, the Miami-Dade County Commission approved a new funding deal for the Miami Heat Tuesday.

The new deal, according to the Miami Herald, would give the Heat’s annual tax subsidy from the county a boost in exchange for a yearly donation of $1 million by the team to the Miami-Dade County parks department.

The current subsidy stands at $6.4 million and would increase to $8.5 million in 2031 and continue at that level through 2035. The deal replaces the current profit-sharing agreement that has only paid the county $260,000 in 14 years.

The Herald reported the county’s finance department estimated the new deal would cost Miami-Dade roughly $19 million through 2035. Miami-Dade County will pay the subsidy with hotel taxes, according to the Herald.

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