Miami Comes Up with the Cash	December 1, 1999
by Elizabeth J. Himelfarb

Down to the wire, Miami-Dade County accepted a loan Monday from the San Francisco-based Trust for Public Land to the tune of $8.7 million to purchase the Miami Circle.

The 8.5% interest rate makes the county's commissioners sweat, but the conservation organization's eleventh-hour offer was too good to pass up.

Now the county will pay the full $26.7 million to developer Michael Baumann up front. Miami-Dade will have two years to repay the loan.

"We won!" screams a banner floating across the page at www.miamicircle.org.

See also "What was the Miami Circle?"

© 1999 by the Archaeological Institute of America archive.archaeology.org/online/news/circle.html

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