Interoffice Memorandum
DATE: February 3, 2025
TO: Mayor Jerry L. Demings
THROUGH: N/A
FROM: Ray Walls, Deputy Director, Orange County Convention Center
CONTACT: Ray Walls
PHONE: 407-685-5684
DIVISION: Fiscal and Operational Support Division
ACTION REQUESTED:
title
Approval of the Tourist Development Tax Sports Incentive Committee's recommendations for sports incentive funding pursuant to the terms and conditions of funding agreements between Visit Orlando and the following applicants and authorization for Visit Orlando to enter into such agreements as follows: (1) $60,000 in three annual installments of $20,000 to Greater Orlando Sports Commission to be used for bid fees for the 2025-2027 End of Summer Slam; and (2) $225,000 to be paid in three annual installments of $75,000 to Greater Orlando Sports Commission to offset marking and promotion costs for the 2025-2027 PNC Championship. (Fiscal and Operational Support Division)
body
PROJECT: Sports Incentive Committee Funding Requests
PURPOSE: On November 1, 2016, the Board authorized consolidated sports funding under the tourist development plan for incentivizing sporting events in Orange County venues. Since 2017, Visit Orlando has provided professional assistance in evaluating sports incentive funding proposals before the Tourist Development Tax Sports Incentive Committee (SIC). Sports incentive funds are held in a separate Visit Orlando account. On October 22, 2019, the Board approved a new tourism promotion agreement pursuant to which Visit Orlando will now administer both the evaluation of proposals and enter into funding agreements with applicants after the SIC funding recommendations have been approved by the Board. On May 21, 2024, the Board approved an amendment to the 2019 agreement with Visit Orlando whereby Visit Orlando will fund up to $10 million annually for incentivizing sporting events as part of this program and allowing that amount to grow in fiscal year 2028 based on increasing Tour...
Click here for full text