99 years – that's how long the lease will last, according to proposed agreement, filed on Wednesday by Inter Miami CF. It marks one more step towards the Miami Freedom Park stadium.
While Inter Miami is going to play its starting seasons in Fort Lauderdale, the long-term home is Miami's Freedom Park. Official stadium concept was revealed in mid-April. Now that plan is a step closer to fruition as Inter CF have submitted their lease proposal on Wednesday.
Put simply, the deal would see David Beckham and Jorge Mas' team lease the large quarter of land for 99 years, paying no less than $3.5 million in annual rent during that period, based on a third-party fair-market-value appraisal. The MLS ownership group also pledges that all elements of the planned sports and tech precinct would be built with no expense to taxpayers.
As part of the proposed lease agreement, Inter would make all 11 soccer fields on site available to the public, as well as create 58 acres of public park (for maintenance of which the investors would provide $20 million). All public uses would be delivered either simultaneously or before the main football stadium is in place.
In total, the project is expected to deliver 2,300 jobs permanently and up to 11,000 during construction period, of course including prefabrication and subcontracting.