MIAMI (CBSMiami) - Miami city commissioners on Thursday evening approved by a vote of 4-1 a proposal for a new stadium and land deal for Inter Miami CF.
As the vote was read inside city hall, cheers erupted.
"Good days and bad days, I always knew this would happen," said Inter Miami CF managing owner Jorge Mas, as he hugged friends and supporters.
Miami Mayor Francis Suarez calls this a transformational moment for the city.
"I've never been prouder to be a Miamian. Never been prouder of this commission," said Suarez.
Commissioner Manolo Reyes, the only no, shared his disappointment with the outcome.
"I think it could have been a better deal."
David Beckham's Inter Miami CF soccer club scored a big goal on the current Melreese Golf Course and Country Club with its 131 acres near the airport.
Years have been spent fine-tuning a massive land deal for the Melreese Country Club to bring a permanent 25,000-seat stadium to a new complex dubbed Freedom Park.
In addition to the stadium, the project also includes an office park, hotel, and retail complex.
"The hard part starts now. Getting this built is more difficult," said Mas.
Here are some current projections:
The total rent paid over the 99-year lease is $2.67 billion dollars.
And the ownership group will pay roughly $120 million to remediate the 131 acres of contaminated land and address infrastructure.
Next up is the final contract and the appraisal. They will take the average of two new appraisals and there's hope to broker a deal to bring Hurricanes football back to Miami to play at the new stadium.
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