ORLANDO, Fla.— Orlando City SC announced Wednesday that the club has been formally invited to make two crucial presentations in August, seeking collaborative funding from Orange County using Tourist Development Tax (TDT). Approval of this funding is expected by a vote of the Orange County Commissioners at a later date, finalizing the financing structure for the development of a multi-purpose soccer stadium in downtown Orlando.
The first presentation will be delivered to the Orange County Board of Commissioners on August 6, and the second will be to the Tourist Development Council (TDC) on August 9. Both meetings will be held at the County Administration Building on Rosalind Avenue.
“We have always said that if we could agree to a private/public partnership to build the soccer stadium, then Major League Soccer (MLS) would be a reality for Orlando,” said Orlando City President Phil Rawlins. “We are delighted to have the opportunity to present our plans to the County Commissioners and the TDC. We have a great story to tell for all of Central Florida and look forward to gaining this crucial support for this exciting project.”
The proposed stadium has been recently re-worked into a two-phase plan, with the first phase estimated at $85 million. The $20 million requested from the TDT will contribute to a financing plan for phase one, which consists of $30 million subsidized by the team’s ownership. The team would be responsible for any building cost overruns and will also fund 100 percent of the Major League Soccer expansion fees.
Securing a stadium-funding plan will allow club officials to complete expansion negotiations with MLS with the goal to have a franchise awarded in 2013. The team would begin play in MLS by Spring 2015.
The meetings will take place at 201 S. Rosalind Avenue in downtown Orlando, with the August 6 presentation beginning at 9 a.m. August 9 will start at 1:30 p.m. Both are open to the public and media.
For more information on the upcoming meetings and the status of MLS in Orlando, please visit OrlandoCitySoccer.com.
