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TO: Board of County Commissioners DATE: August 29, 2000 SUBJECT: Public Hearing on an Ordinance for the Levy of an Additional One Cent Tourist Development Tax THRU: James E. Chandler, County Administrator FROM: Joseph A. Baird, Assistant County Administrator On July 24, 2000 the Board of County Commissioners approved a Memorandum of Understanding between Indian River County, City of Vero Beach, Los Angeles Dodgers, Inc.. Fox Baseball Holdings Incorporated, and deGuardiola Development, Inc. The purpose of The Memorandum of Understanding was to set the framework to purchase Dodgertown which is the Dodgers spring training facility. One of the key elements of the Memorandum of Understanding is Indian River County would levy an additional one cent tourist development tax to pay debt service of the bonds issued to finance the acquisition and renovation of the spring training facility. The additional one cent tourist development tax would go into affect on February 1, 2001. In the event the purchase of Dodgenown did not occur, the Ordinance would be repealed. The attached Ordinance must be approved by the Board of County Commission to enable Indian River County to levy the additional one cent tourist development tax. RECOMMENDATION Staff recommends the Board of County Commissioners approve the attached Ordinance to levy an additional one cent tourist development tax. Administrator Chandler advised that all of the items under consideration were consistent with the Memorandum of Understanding presented, considered and adopted by the Board of County Commissioners and City of Vero Beach Council the end of July. He explained the items on the agenda for the meeting. Administrator Chandler then presented a brief but comprehensive overview of all the items under consideration by specifying all dollar figures, proposed sources ofrevenue, how the dollars would be used, and the legislation which permits those activities to occur. He September 7, 2000 2 0 0 -I