Originally posted by Unregistered
View Post
why won't they do that? What's the holdup?
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It's not my responsibility to produce such data. I'm sure if it was as low as you seem to think, it would have appeared in the "economic impact study". Bottom line- it's OC's responsibility to prove the stadium is a worthy investment for Orlando. They haven't done that yet. They have the alternative of simply paying for it themselves, with the City donating land.
why won't they do that? What's the holdup? -
Did they begin play in 2010? I think houston's stadium opened in 2011- and it was privately funded.Originally posted by Unregistered View PostComment
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Yeeaahh!!!Comment
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Property taxes trippled after Chicago fire soccer stadium
http://articles.chicagotribune.com/2...m-chicago-fire
Originally posted by Unregistered View PostComment
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is one example enough?
http://www.socceramerica.com/article...e-stadium.htmlOriginally posted by Unregistered View PostComment
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From the Article: "Rising from the rubble of an old industrial site, the 20,000-seat Toyota Park was supposed to put the small suburb on the map, report Joseph Ryan and Joe Mahr. Instead, the community of 16,000 is more than $230 million in debt because of the stadium."Originally posted by Unregistered View Post
Kinda sounds like "Rehabilitating the blighted Parramore district" and "raising our City's profile", don't it?Comment
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From the Article: "Rising from the rubble of an old industrial site, the 20,000-seat Toyota Park was supposed to put the small suburb on the map, report Joseph Ryan and Joe Mahr. Instead, the community of 16,000 is more than $230 million in debt because of the stadium."Originally posted by Unregistered View Post
Real life case study.Comment
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who the hell cares....?Originally posted by Unregistered View Post
Govt. involvement = $20m with no risk of cost overrun.Comment
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That's not at all clear from the information presented. Some of the County Commissioners are saying they haven't seen anything clearly in black and white. It's obvious, however that Buddy and Teresa have seen a lot of purple smoke.Originally posted by Unregistered View PostComment
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That is clear. You are just a rabid trouble causer peddling negativity.Originally posted by Unregistered View PostComment
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Not to worry, just ignore it.Originally posted by Unregistered View Post
The stadium WILL be built. And Major League Soccer WILL be in Orlando, FL.
Glad to see that the tourist tax dollars I've been paying in Orlando, FL is finally going to be spent on something I'm interested in and will be supporting.
Get on board or get thehelloutoftheway.Comment
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A real life case study in..."politcs as usual" in the greater Chicago area, renowned for corruption.Originally posted by Unregistered View Post
"a model of what can go wrong when a little town takes massive development gambles in a state with loose borrowing and ethics laws: Politicians and insiders benefit, while taxpayers are stuck covering budget-busting losses."
"It started for Bridgeview residents with a seemingly innocuous vote for "home rule" in 2002 — a vote that many towns have taken. But in Bridgeview's case, that vote would lead to a trail of broken promises, risky gambles and sweetheart deals that helped put the town's 16,446 residents on the hook for more than $230 million."
[Note: Bridgeview, IL is a town of 16.446 people. The population of the city of Orlando, FL is over 243,000 and the population of Orange County, FL is 1.17 million people]
Trying to draw any parallels between the situation in Bridgeview, IL and the prospects of a new stadium and MLS team in Orlando, FL is laughable.Comment
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Wow congrats to Orlando and OC. Be nice to see a good pro game now.Comment
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Q&A: Lingering concerns about soccer-stadium deal
August 18, 2013|By David Damron and Mark Schlueb, Orlando Sentinel
Although Central Florida's top mayors have agreed to it, there are still questions surrounding the $94.5 million plan to build a downtown soccer stadium, bolster Florida Citrus Bowl renovations and speed up construction of an arts center.
Most of the concerns surround the new stadium, which boosters say would bring a Major League Soccer franchise to Orlando.
Question: Where would the $94.5 million go, and where is it coming from?
A: The tourist tax is a 6 percent nightly levy on hotel rooms that raised $175 million last year.
Most of that is earmarked for paying off the convention center, the $503 million Dr. Phillips Center for the Performing Arts, $191 million in Citrus Bowl renovations and the $487 million Amway Center. About $36 million a year is spent on tourism marketing.
But new money is available because of the strong rebound in tourism. The $94.5 million package includes $12 million more for Citrus Bowl upgrades to help attract better events; $25 million to help pay for the arts center's stalled second phase; $27.5 million for tourism ads, mostly aimed at international and sports marketing; and $10 million added to an existing $187 million plan to upgrade the convention center. And $20 million would help build a new downtown soccer stadium.
Q: Who would own the stadium and make the most money off of it?
A: The city of Orlando would own the $85 million, 18,000-seat facility, just as it owns the Citrus Bowl, the arts center and the Amway Center.
The team would keep the ticket revenues for its games. But negotiations over other projected revenue streams such as parking, naming rights and concessions are ongoing.
The owners of Orlando City Soccer Club — the minor-league team vying for a Major League Soccer expansion franchise — want a deal like the Orlando Magic have at the Amway. That deal requires the basketball franchise to pay $1 million a year in rent and an additional $1.9 million a year in lieu of the revenue earned from advertising, naming rights and luxury suites. The team generally receives all other revenues at its games, including concessions, parking and naming rights.
The team actually wants a $110 million facility, but state lawmakers rejected a push for a $30 million state-sales-tax subsidy for it. The plan is to go to Tallahassee again next year to make another pitch for the $30 million.
Q: Who would pay for the soccer stadium?
A: The team would kick in $30 million, Orlando would cover $20 million, and the county would pitch in $20 million in tourist taxes. Another $10 million would come from some type of ticket fee, which the team would guarantee. Other sources, including Seminole and Osceola county taxpayers, are being looked at for the final $5 million.
Orange County Mayor Teresa Jacobs argues the owners are paying for about half the facility, because Orlando City Soccer's millionaire owner, Brazilian businessman Flávio Augusto da Silva, would pitch in $30 million and has guaranteed the $10 million in ticket fees.
In a newsletter released Thursday, Jacobs said she first discussed building a soccer stadium nearly two years ago and had two conditions: The team had to pay half and sign a long-term lease. "We have achieved those goals," she wrote.
Critics don't see it the same way, because fans are more likely to pay the $10 million in ticket surcharges. And the $30 million the team pitches in for construction could be partially offset from naming-rights revenues that could be worth $10 million or more in 10 years.
Commissioners Ted Edwards said Jacobs is "misleading" people by giving the team credit for paying half, especially if state lawmakers contribute $30 million more.
Q: Are taxpayers at risk if there's another downturn and tourist-tax revenues fall?
A: City officials said there's "minimal likelihood" any of the debt payments would fall to local taxpayers. And if that did happen, local taxes would eventually be repaid when tourist taxes rebound.
Orlando officials say the financing plan could sustain a three-year drop in tourist taxes, a longer period than what followed the Sept. 11, 2001, attacks and again during the recession.
A $25 million reserve fund would be tapped if tourism plummeted. Once those funds are exhausted, they would be backed up by an additional $12 million in a separate reserve fund, and, if available, revenue from Orlando's downtown taxing district.
Q: What happens if the soccer team leaves after a few years?
A: Jacobs and Orlando Mayor Buddy Dyer both have both said that any stadium deal would include a penalty provision similar to the Orlando Magic's Amway Center agreement.
If the Magic leave before their 25-year lease is up, the team has to pay a penalty and lose other future revenues. If the team left today, the penalty would be $247 million, a figure that comes from the original $270 million the team got from the county's tourist revenues to help build the arena.
The soccer stadium would rely on $20 million from the county's tourist-tax revenues, which would likely mean a smaller penalty if the team left town early.
Q: Where would the soccer stadium be built?
A: On two square blocks of land a bit west of the Amway Center, bounded by Church Street to the south, Central Boulevard to the north, Parramore Avenue to the west and Terry Avenue to the east. Pine Street runs through the property, but would likely be closed so the two halves could be consolidated into one site. The city has already bought most of the land, continues to negotiate with two property owners, and is expected to go to court to take one parcel.
Q: When will this be decided?
A: The city and county commissions could vote on the overall deal in the next couple of months.
http://articles.orlandosentinel.com/...r-amway-centerComment
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Q&A: Lingering concerns about soccer-stadium deal
August 18, 2013|By David Damron and Mark Schlueb, Orlando Sentinel
Although Central Florida's top mayors have agreed to it, there are still questions surrounding the $94.5 million plan to build a downtown soccer stadium, bolster Florida Citrus Bowl renovations and speed up construction of an arts center.
Most of the concerns surround the new stadium, which boosters say would bring a Major League Soccer franchise to Orlando.
Question: Where would the $94.5 million go, and where is it coming from?
A: The tourist tax is a 6 percent nightly levy on hotel rooms that raised $175 million last year.
Most of that is earmarked for paying off the convention center, the $503 million Dr. Phillips Center for the Performing Arts, $191 million in Citrus Bowl renovations and the $487 million Amway Center. About $36 million a year is spent on tourism marketing.
But new money is available because of the strong rebound in tourism. The $94.5 million package includes $12 million more for Citrus Bowl upgrades to help attract better events; $25 million to help pay for the arts center's stalled second phase; $27.5 million for tourism ads, mostly aimed at international and sports marketing; and $10 million added to an existing $187 million plan to upgrade the convention center. And $20 million would help build a new downtown soccer stadium.
Q: Who would own the stadium and make the most money off of it?
A: The city of Orlando would own the $85 million, 18,000-seat facility, just as it owns the Citrus Bowl, the arts center and the Amway Center.
The team would keep the ticket revenues for its games. But negotiations over other projected revenue streams such as parking, naming rights and concessions are ongoing.
The owners of Orlando City Soccer Club — the minor-league team vying for a Major League Soccer expansion franchise — want a deal like the Orlando Magic have at the Amway. That deal requires the basketball franchise to pay $1 million a year in rent and an additional $1.9 million a year in lieu of the revenue earned from advertising, naming rights and luxury suites. The team generally receives all other revenues at its games, including concessions, parking and naming rights.
The team actually wants a $110 million facility, but state lawmakers rejected a push for a $30 million state-sales-tax subsidy for it. The plan is to go to Tallahassee again next year to make another pitch for the $30 million.
Q: Who would pay for the soccer stadium?
A: The team would kick in $30 million, Orlando would cover $20 million, and the county would pitch in $20 million in tourist taxes. Another $10 million would come from some type of ticket fee, which the team would guarantee. Other sources, including Seminole and Osceola county taxpayers, are being looked at for the final $5 million.
Orange County Mayor Teresa Jacobs argues the owners are paying for about half the facility, because Orlando City Soccer's millionaire owner, Brazilian businessman Flávio Augusto da Silva, would pitch in $30 million and has guaranteed the $10 million in ticket fees.
In a newsletter released Thursday, Jacobs said she first discussed building a soccer stadium nearly two years ago and had two conditions: The team had to pay half and sign a long-term lease. "We have achieved those goals," she wrote.
Critics don't see it the same way, because fans are more likely to pay the $10 million in ticket surcharges. And the $30 million the team pitches in for construction could be partially offset from naming-rights revenues that could be worth $10 million or more in 10 years.
Commissioners Ted Edwards said Jacobs is "misleading" people by giving the team credit for paying half, especially if state lawmakers contribute $30 million more.
Q: Are taxpayers at risk if there's another downturn and tourist-tax revenues fall?
A: City officials said there's "minimal likelihood" any of the debt payments would fall to local taxpayers. And if that did happen, local taxes would eventually be repaid when tourist taxes rebound.
Orlando officials say the financing plan could sustain a three-year drop in tourist taxes, a longer period than what followed the Sept. 11, 2001, attacks and again during the recession.
A $25 million reserve fund would be tapped if tourism plummeted. Once those funds are exhausted, they would be backed up by an additional $12 million in a separate reserve fund, and, if available, revenue from Orlando's downtown taxing district.
Q: What happens if the soccer team leaves after a few years?
A: Jacobs and Orlando Mayor Buddy Dyer both have both said that any stadium deal would include a penalty provision similar to the Orlando Magic's Amway Center agreement.
If the Magic leave before their 25-year lease is up, the team has to pay a penalty and lose other future revenues. If the team left today, the penalty would be $247 million, a figure that comes from the original $270 million the team got from the county's tourist revenues to help build the arena.
The soccer stadium would rely on $20 million from the county's tourist-tax revenues, which would likely mean a smaller penalty if the team left town early.
Q: Where would the soccer stadium be built?
A: On two square blocks of land a bit west of the Amway Center, bounded by Church Street to the south, Central Boulevard to the north, Parramore Avenue to the west and Terry Avenue to the east. Pine Street runs through the property, but would likely be closed so the two halves could be consolidated into one site. The city has already bought most of the land, continues to negotiate with two property owners, and is expected to go to court to take one parcel.
Q: When will this be decided?
A: The city and county commissions could vote on the overall deal in the next couple of months.
http://articles.orlandosentinel.com/...r-amway-centerComment
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