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File #: 24-1831    Version: 1 Name:
Type: Board Direction Status: Consent Agenda
File created: 11/26/2024 In control: Convention Center
On agenda: 12/17/2024 Final action: 12/17/2024
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) $2,200,000 to Greater Orlando Sports Commission to be used for bid fees ($1.5M), marketing and promotional costs ($300k), and venue rentals ($400k) for the 2025 FIFA Club World Cup; (2) $137,500 to Florida Citrus Sports to offset bid fees for the 2025 FC Series - January Edition; and (3) up to $1,500,000 to Florida Citrus Sports to offset bid fees for the 2025 Florida Cup and FC Series - Summer Edition. (Fiscal and Operational Support Division)
Interoffice Memorandum

DATE: November 26, 2024

TO: Mayor Jerry L. Demings and County Commissioners

THROUGH: N/A

FROM: Ray Walls, Deputy Director, Fiscal and Operational Support, OCCC

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) $2,200,000 to Greater Orlando Sports Commission to be used for bid fees ($1.5M), marketing and promotional costs ($300k), and venue rentals ($400k) for the 2025 FIFA Club World Cup; (2) $137,500 to Florida Citrus Sports to offset bid fees for the 2025 FC Series - January Edition; and (3) up to $1,500,000 to Florida Citrus Sports to offset bid fees for the 2025 Florida Cup and FC Series - Summer Edition. (Fiscal and Operational Support Division)

body

PROJECT: N/A

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 a...

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