Miami residents voted in favor of allowing the city to partner with a private company, all in order to restore the Miami Marine Stadium during Tuesday's primary election.
Now defunct, the venue, — built in 1963, according to the National Trust for Historic Preservation — previously played host to powerboat races and concerts by Queen and Jimmy Buffet, among others. After sustaining damage during Hurricane Andrew in 1992, the stadium was "declared an unsafe structure and was abandoned," according to the city of Miami.
Miami voters chose to let the city to "enter into a management agreement" with a private company, Global Spectrum L.P. — a subsidiary of Oak View Group — which will lead the renovation along with a local partner, Breakwater Hospitality
Group, according to a press release by the latter company and Bring Back Marine Stadium.
The referendum to allow the partnership passed with 22,505 votes in favor, or 68.56% of the vote, according to the Miami-Dade County Supervisor of Elections.
"Next steps include the negotiation of the management contract for the existing Flex Park," reads the release. Oak View Group will work with the City of Miami, "the community, and Miami's creative and business leaders to launch a comprehensive study and visioning process for the renovated stadium," the release added.
The city will receive "93% of gross sales of all events after deducting a $33,333 monthly management fee," along with "85% of sponsorship revenues," according to the question on the ballot. The company will also pay the city "up to" $10 million for the "restoration" of the stadium.
According to the National Trust for Historic Preservation, the "6,566-seat stadium" in Virginia Key was designed by architect Hilario Candela.
"During its heyday, powerboat races and concerts under the stars drew thousands to the stadium," reads the website. "Memorable historic performances on its floating stage include Queen, The Beach Boys, Steppenwolf, Dave Brubeck, Ray Charles and many more."
The question on the ballot read:
"Shall the City enter into a management agreement with Global Spectrum L.P. to activate and manage events at the Historic Miami Marine Stadium and Flex Park, 3501 Rickenbacker Causeway, Miami, FL, as follows:
- City receives 93% of gross sales of all events after deducting a $33,333 monthly management fee
- City receives 85% of sponsorship revenues
- 40 year term
- Global Spectrum to pay the City up to $10,000,000 towards the restoration of Historic Marine Stadium?"
Sarah Perkel is a South Florida Connect Reporter for the USA TODAY Network's Florida Connect team. You can get all of Florida’s best content directly in your inbox each weekday day by signing up for the free newsletter, Florida TODAY.
This article originally appeared on USA TODAY: Miami voters pass Marine Stadium renovation partnership. What's next
