Orlando mayor lays out plan to spend more than $700M to improve city venues
Orlando Mayor Buddy Dyer outlined a plan Tuesday to use tourist-tax revenue to pay for an upgrade of Camping World Stadium, improvements to Amway Center and an addition to the Dr. Phillips Center for the Performing Arts.
Not counting interest, the bill would be over $700 million — including $400 million for the stadium and $256 million for Amway — and require the city to issue bonds that it would pay off with future revenue from the tourist development tax.
“The city will take on the obligation of constructing [both projects] and any cost overruns for that, which we think is a substantial risk in any type of construction project right now as prices keep going up,” Dyer said.
He discussed the idea at the end of a 2½-hour meeting of the Tourist Development Council, a nine-member advisory panel on which both he and Orange County Mayor Jerry Deming recommended spending revenues raised by the 6% tax be added to the cost of a hotel room, a home-sharing rental or other short-term lodging.