01/15/2019 (2) - Laserfiche WebLink

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• Requires change to County Code to allow 4th Cent of Tourist Tax ("The Professional Sports Facility Franchise Tax") to be expended to, "promote and advertise tourism in the State of Florida and nationally and internationally. However, if the tax revenues are expended for an activity, service, venue, or event, the activity, service, venue, or event must have as one of its main purposes the attraction of tourists as evidence by the promotion of the activity, service, venue, or event to tourists." in accordance with Section 125.0104, Florida Statutes. The 4th Cent would then be used to fund traditional tourism promotion activities and one of the first 2 cents would be used to fund Dodgertown facility needs (essentially swapping the 4th Cent for the Pt Cent). • In summary this: o Commits a total of $3,225,000 in One Cent Sales Tax for initial County Improvement expenses needed to correct some deferred maintenance issues currently at Dodgertown. o Provides $1.85 million in One Cent Sales Tax over 11 -year lease for Capital Reserve Fund, compared to $1.375 million in current lease. o Makes $75,000/year in Tourist Tax available for tourism promotion immediately upon lease signing due to elimination of this payment from current lease. o Makes '/2 of the 4th Cent of Tourist Tax available (—$325,000) for other uses beginning in 2022. o Makes $125,000/year funding from Half -Cent Sales Tax available to be released to the General Fund to provide for other County services. o Limits the County's commitments to the facility to the above referenced items and requires MLB to fund any other facility needs during the initial 11 -year term essentially transitioning facility responsibilities to MLB going forward. o Verotown will provide insurance for the facility, which will provide an annual premium savings of $70,000 Staff Recommendation: 1. Staff Recommends the Board of County Commissioners approve the attached Amended and Restated Facility Lease Agreement for Historic Dodgertown. 2. Staff requests that the Board of County Commissioners waive the requirement for bids in order to allow Verotown to manage roof replacements, with County oversight, for facilities contemplated in Section 8.04(b) of the agreement and detailed above. 3. Staff recommends the Board of County Commissioners approve a change to the County's Code to allow for the use of the County's 4th Cent Tourist Tax (the Professional Sports Franchise Facility Tax), "To promote and advertise tourism in Florida, nationally and internationally..." in accordance with Section 125.0104, Florida Statutes, and authorize staff to advertise for a public hearing to adopt the ordinance on January 15, 2019. 4. Staff recommends that the Board of County Commissioners approve the Financing Plan detailed above to fund the County's responsibilities under the agreement. Attachment: Amended and Restated Facility Lease Agreement 5 Page 142