Miami Bails Out Performing Arts Center

Miami-Dade has approved a $4.1 bailout of the Carnival performing Arts Center. The newly-opened building has been running a large deficit. “Occupancy cost projections were based on a building area of 476,000 square feet. The Carnival Center’s actual building area is 525,000 square feet. The result of the combined miscalculations was that staff budgeted occupancy costs at $306,250 per month. The costs have come in at $647,844 a month.”