The state House of Representatives is expected to schedule a final vote on a committee substitute bill either today or tomorrow. The bill would appropriate for the stadium's financing only the sales tax revenue that exceeds the present amount the team collects.
It may not matter, however, even if the House approves the bill and sends it to the state Senate for a confirmation vote. Senate president John M. McKay (R-Bradenton) would allow the House bill to proceed only at the urging of the Senate membership. He already has blocked an identical proposal in that legislative chamber from reaching the Senate floor for a full vote.
"If the Senate wanted to bring it to the floor, he would hear it but vote against it," a spokesperson for McKay tells GlobeSt.com.
The Senate president opposes the proposal because legislative economists expect the bill to have a negative annual impact of more than $5 million on the state budget. "If this was going to be a financial hit, he would not vote for it," McKay's spokesperson adds.
A published site-selection study estimated total costs could range from $499 million to $521 million to build the stadium on the riverfront site bounded by Southwest Third Street to the north, South Miami Avenue to the east, the river to the south and a Florida Power & Light substation to the west.
The study estimates it would cost an additional $40 million to $45 million just to acquire the 19.8 acres from several private landowners. It could cost $53 million to relocate utilities infrastructure, $11 million to $18 million for site-demolition work and $10 million to $20 million for other road work, fill and site-work costs.
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