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Public Funds for Cruise Line Industry,
Community Development Funds Cut

"Royal Caribbean Cruises has brokered a deal with Miami-Dade County to do $16 million in improvements on its terminals to make room for a third ship of its largest class...The county, which governs and owns the Port of Miami, has agreed to reimburse the cruise line for its costs as work progresses. In return, company officials said, the county's investment should generate $1.4 million in additional annual revenues for the port from dock, wharf and parking fees...The cruise line will be reimbursed up to $16 million...under terms similar to those used in 1998 when the port expanded terminals 3, 4 and 5. Then, he said, it was Royal Caribbean that financed the renovations for about $76 million and the county reimbursed the line from port revenues."

Miami Today, Feb. 7th, '02; "County to repay Royal Caribbean for $16 million upgrade at Port" By Paola Iuspa

Independent Royal Caribbean Perspectives:
Meanwhile, Cuts to the: