Orlando Magic Blog

Group Blog talking about the NBA 2009 Eastern Conference Champions. Due to the amazing success of the 2009 playoff run comments are now frequently deleted to kill offensive comments, incoherence, or asininity. Comments can no longer be anonymous and require either a Blogger or OpenID account.

Monday, May 08, 2006

New Arena Happenings

Mayors seek deal to divide tourist tax

Though fundamental differences remain, both sides said they expect to reach an agreement within a few months.

Supporters of the three projects say that once a tourist-tax plan is in place, contributions from area businesses and philanthropists will start to roll in. Still unclear is exactly how much each project would cost, and how much other parties, such as the Orlando Magic, would contribute.

Crotty plans to invite backers of all three public projects before county commissioners this summer to lay out plans and costs.

Crotty's sports strategy makes financial sense - Orlando Sentinel : News Columnists

Field of Schemes:
The legislature did approve a passel of other sports subsidies, including $75 million in state money over the next 30 years for upgrades of spring-training facilities, and a $2 million a year sales-tax rebate for the Orlando Magic, matching what other teams in the state have gotten. (While most press coverage calls this $60 million, since it's spread out over 30 years, the present value is more like $30 million.) The legislation that passed also included a provision for local governments to spend their own cut of sales taxes on their existing sports franchises - though clearly, cities are going to be a lot more willing to dole out sales-tax subsidies when it's the state's money, not their own, that's at stake.


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