University of Miami officials are reviewing a new proposal aimed at preserving the tradition and history of the 70-year-old Orange Bowl. The idea is a last-ditch effort to try to save the stadium from the wrecking ball -- and perhaps the site from being the future home of the Marlins.

The city of Miami's project consultant, Jones Lang LaSalle, is proposing a $206 million renovation that adds luxury suites and club seating to the stadium's south side and new restrooms and concession stands throughout the stadium. The plan envisions a total of 66,736 seats, including 30 suites, 400 indoor club seats, and 2,000 outdoor club seats. There would be a 60-seat president's suite and new scoreboards.

The idea is to keep the Hurricanes' home-field advantage at its long-time home, something it wouldn't get by sharing Dolphin Stadium with the Dolphins, the proposal states. John A. Paccione, Jones Lang LaSalle senior vice president, calls the Orange Bowl "irreplaceable."

"The Orange Bowl has been a point of orientation for that community for decades ... for the Hurricanes for decades," he said. "They get to preserve that point of orientation for the future. There's no dollar figure that can put a value on that."

But preservation comes at a cost. While the $206 million proposal is fully-funded and spreads improvements across the stadium - unlike earlier proposals - and doesn't rely on an up-front contribution from UM, it does put the university on the hook for more of its stadium revenue and doesn't anticipate as much revenue as earlier projections.

The plan calls for $50 million in a Miami-Dade County bond issue; hotel bed taxes; and $45 million in historic tax credits -- those are federal tax credits available to buildings with historic designation. The city has begun the process of applying for the designation. Another $73.3 million comes from bonding against revenue generated in the stadium

Under the plan, UM would contribute $3 per ticket up from the current $1 surcharge; 10 percent of ticket sales; 50 percent of club seat ticket sales and 100 percent of the club seat revenue up from 75 percent in earlier proposals. As such, the proposal estimates UM will increase its revenue in a renovated OB to $2.6 million, but that's down from the $3.4 million to $3.6 million projected in earlier proposals.

But the proposal also details the somewhat intangible advantages to staying at the OB versus a move to Dolphin Stadium: "The Orange Bowl - UM's long standing history-rich and legacy-driven stadium remains the Hurricanes home," the proposal says. "The stadium will continue to be branded for the Hurricanes. ... Improvements made to the stadium are aligned directly with UM's desires - not another primary tenant."

On the Dolphin Stadium side, the proposal raises conserns about game scheduling conflicts with the Dolphins and the Marlins and says: "Larger stadium with UM attendance records will make the games appear unsupported by the fans ... Locationally, Dolphin Stadium is less convenient and more at risk for fan apathy in attendance."

UM offcials said they are reviewing the proposal. Miami City Manager Peter Hernandez said the city gave UM an overview of the proposal this week and he expects a response from the university within a couple of weeks.

If UM decides to make the move to Miami Gardens, the Orange Bowl location has been proposed as a possible site for a ballpark for the Marlins, although both the Marlins and Major League Baseball would prefer a spot downtown. Hernandez said if UM decides to stay at a renovated OB, the city still has the money to help fund both projects. "Both projects have separate financial plans," Hernandez said.