|December 7, 2017 Land Use Meeting|
Agenda Item #5
9:00 AM Time Certain Acquisition of Premier Sports Campus - use of TDT Funds
Contact and/or Presenter Information
Presenter: Elliott Falcione, CVB Executive Director x3940
Contact: Monica Luff, CVB Sr. Admin. Specialist x3944
Approval of expenditures up to $4,000,000 in tourist tax proceeds for partial acquisition and capital improvements for Premier Sports Campus in Lakewood Ranch AND adoption of Resolution R-17-149 AND adoption of Budget Amendment Resolution B-18-025.
F.S.S. 125.0104 Authorized uses of Tourist Tax Funds
- Manatee County CVB/TDC will utilize up to $4 Million of tourist tax proceeds to help support the acquisition of an agreed price of $5.3 Million for Premier Sports Campus, including an additional 39 acres for future parks development that will include a future aquatic facility.
- The $4 Million would pay for the stadium components of Premier Sports Camus, the parking lots required for stadium attendees, concession facilities, an additional permanent restroom facility and an approximate 3,000 sq. ft. indoor multipurpose building that would be utilized by out-of-town sports tournament promoters (currently renting tents), so the coaches and athletes have amenities that will lower annual overhead, and enhance our brand in the marketplace.
- County impact fee dollars will pay for the remaining sports fields, parking and adjacent undeveloped land in order to acquire this world-class sports complex.
- The Bradenton Area CVB would manage the programming of all sports fields at Premier, focusing on maintaining an elite field surface year-round while hosting both out-of-town tournaments and local play.
- Manatee County Property Management Dept. would handle the maintenance of the Premier complex on a daily basis.
- Manatee County Parks & Natural Resources Dept. would develop a master plan for the adjacent acreage for future recreational facilities, including an aquatic center.
- Manatee County would contract or hire all current Premier Sports Campus staff since they have provided top-notch customer service to the clients at Premier, and they have intimate knowledge of the operations.
- This expenditure will not compromise our ability to market the destination and provide resources for other county-wide projects that are eligible to use tourist development tax funds.
- This portion of the project will be paid with 100% tourism tax proceeds that is limited in use via F.S.S. 125.0104
- The Resolution R-17-149 confirms an interfund loan from the unincorporated services fund (107) to the Tourist Development Tax Fund (103).
- The Budget Amendment Resolution B-18-025 transfers $3.2 Million from reserves in the Unincorporated Services fund to the Tourist Development Tax Fund and also transfers the $3.2 Million from the TDT Fund to the Building Capital Projects fund and $2.1 Million from the Parks & Natural Resources Impact Fees to the Unincorporated fund to the Parks & Natural Resources Impact - Unincorporated Capital Project fund for the advancement of funds for costs related to the acquisition of and other related costs for Premiers Sports Campus.
County Attorney Review
Formal Written Review (Opinion memo must be attached)
Explanation of Other
Instructions to Board Records
Copy of adopted R-17-149, and copy of approved agenda memo to Monica Luff and Eva Galler, CVB and to Candice Cruz, OFM email@example.com firstname.lastname@example.org Candice.email@example.com
Cost and Funds Source Account Number and Name
Amount and Frequency of Recurring Costs
up to $4,000,000 one time expenditure
Attachment: Acquisition of PSC - TDT Funds.pdf
Attachment: PremierSportsPlan2017 .pdf
Attachment: Co Atty Memo - PSC Acquisition.pdf
Attachment: R-17-149 Interfund Loan - Premier Sports Campus.pdf
Attachment: B-18-025 Premier Sports Campus in Lakewood Ranch.pdf