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40 <br />4W <br />4W <br />Question 6. Zhe r►rrerrderd rrse ' fm'orftr�git+en ►at Me. c ora-strrrclion <br />of a crew &011,4 <br />The intended use of the finds is spelled out in detail in the attached Memorandum (Tab A), <br />Deal Estate Contract (Tab B) and Development Agreement (Tab D). Briefly, tate funds will be used <br />to acquire Dodgertown, including approximately 64 acres of Land on which is constructed Holman <br />1 Stadium and the other Dodgertown facilities, and to construct various improvements to Dodgertown. <br />Holman Stadium was completed in 1953, and since then has had relatively few significant <br />improvements. in addition to the cost of acquiring the Dodgertown land, bond proceeds will finance <br />the costs of substantial renovation and improvements to Holman Stadium, several major and minor <br />league practice fields, player housing, clubhouse, and batting facilities. <br />Funds provided by the State of Florida, together with tourist development tax and sales tax <br />revenues of the County, will be pledged to the repayment of the County's Bonds. Although the total <br />net Bond proceeds of $17,000,000 will be used to finance the acquisition costs and improvement <br />costs on an issue wide basis, the portion of the Bonds representing State funds (estimated at <br />$6,500,000) are being allocated by the County to the costs of the -improvements to Dodgertown, <br />along with funds provided by the County. The anticipated expenditure of net Bond revenues, <br />including the State Funds, is found below in TABLE 2. <br />TABLE 2 <br />Land Purchase 310,000,000 <br />Facility Renovations/Improvements <br />�um <br />Replace field 500,000 <br />Drainage repairs 100,000 <br />New clubhouse facility 2,150,000 <br />Stadium repairs --including press box 150,000 <br />Maintenance facility upgrade 100,000 <br />General site work 500.000 <br />3,350, 000 <br />Subtotal <br />aPractice Field <br />FulUhalf field renovations 1,550,000 <br />New batting cages 460,000 <br />Observation tower/restroom facility 150,000 <br />General site work 1,110,000 <br />Other existing structure renovations 750 009 <br />e Subtotal 4,020,000 <br />Soft cost/project contingency funds 1,474,000 <br />Total Project Capital Cost 844 ,OLO <br />L_ <br />G-1 <br />