|REVISED November 28, 2017 - Regular Meeting|
Agenda Item #46
Acquisition of Premier Sports Campus
Contact and/or Presenter Information
Presenter: Elliott Falcione, CVB Director
Contact: Monica Luff, CVB Sr. Admin. Specialist
Approval to bring an agreement for the acquisition of Premier Sports Campus in Lakewood Ranch for consideration of the Board of County Commissioners and to seek a recommendation from the Tourist Development Council for use of Tourist Development Tax revenues for a portion of the cost of acquisition of Premier Sports Campus.
F.S.S. 125.0104 Authorized Uses of Tourist Development Taxes
- On June 12, 2017, the County received a proposal from the President and CEO of Schroeder-Manatee Ranch, Inc.(copy attached) to sell to the County approximately 127 acres that comprises the Premier Sports Campus in Lakewood Ranch as well as an additional 36 acres of land to be used for a future county aquatics facility and other recreational amenities.
- County staff has been doing due diligence in evaluation of the facilities, creating plans for county operation of the facilities, determining net costs of operations, and evaluating potential funding sources for the capital acquisition costs. Bill Clague of the County Attorney's has been assisting with development of an agreement for the acquisition.
- The acquisition price of $5.2 million represents a very substantial savings from what it would cost the County to acquire land and construct similar facilities and would preserve the county's ability to continue to receive very significant positive tourism and economic impacts from operation of the facility as a sports destination.
- The County would continue to operate the sports campus as an elite venue for out-of-town, local and regional tournaments and games.
- 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.
- Proposed acquisition funding would be $3.2 million from Tourist Tax based on guidance from the County Attorney's office on what elements of the park would be eligible for use of Tourist Development Taxes and the remaining $2.1 million would come from Parks Impact Fees.
- Anticipated annual operating costs net of revenues are estimated at approximately $200,000 per year. For the current year it is proposed to come from the Board's Reserve for Contingency. In future years, annual operating costs would be incorporated into the budget development process.
- Pending conceptual approval by the Board of County Commissioners, the Bradenton Area CVB would seek the recommendation of the Manatee County Tourist Development Council (TDC) on December 4, 2017, to utilize up to $4 Million of tourist tax proceeds that would include the $3.2 million of the acquisition cost for the Premier Sports Campus and would also provide the necessary resources of approximately $800,000 to add a permanent restroom facility and an approximate 6,000 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.
- The Manatee County Property Management Dept. would handle the maintenance of the Premier complex on a daily basis.
- The 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 desires to 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.
- Our objective is to attain a recommendation by the TDC on December 4, approval by the County Commissioners on December 7, and close on the acquisition by the end of calendar year 2017. Transition of operations would commence at closing.
County Attorney Review
Other (Requires explanation in field below)
Explanation of Other
William Clague has provided guidance on use of Tourist Development Taxes and the drafting of an agreement for the acquisition of the sports complex and adjacent land.
Instructions to Board Records
Copy of approved agenda memo to Monica Luff and Eva Galler, CVB: email@example.com, firstname.lastname@example.org
Cost and Funds Source Account Number and Name
$5.2 million - $3.1 million from Tourist Development Taxes, $2.1 million from Parks Impact Fees, additional $800,00 from Tourist Taxes for future improvements
Amount and Frequency of Recurring Costs
Attachment: Letter - Premier Sports Campus.pdf