Proposed Uses of Tourist Development Tax October 22, 2013 ORANGE COUNTY

Tourist Development Tax Visit Orlando Community Venues Performing Arts Center Citrus Bowl MLS Soccer Stadium Actions Requested Outline

Tourist Development Tax Visit Orlando Community Venues Performing Arts Center Citrus Bowl MLS Soccer Stadium Actions Requested Outline

Tourist Development Tax County levies 6% tourist development tax Approximately $186 million in annual collections for FY 2013 Historic growth rate = 9.5% FY 2013 growth rate = 6.7% (estimate) State Law governs uses Not allowed for: roads, schools, public safety, etc.

Tourist Development Tax 6 th cent Levied in 2006 Split between tourism promotion and new Amway Center

Tourist Development Tax 1-5 th Cents TDT County keeps TDT collections up to defined Base Amounts FY 13 Base Amount = $144.1 million Base Amounts continue to grow at 2% per year City receives surplus TDT Collections

Five Year Totals at 4% Growth Tourist Development Tax 1-5 th Cents (in millions) Revenue Base Amounts County keeps collections up to Base Amounts to fund TDT plan expenditures 5 year Base Amounts Total = $764.9 M

Tourist Development Tax County Funding -Base Amounts provide enough funds for ongoing expenditures including Convention Center and Visit Orlando -Maintains Reserves: -Debt Service at $73.3 million -Target Reserves at 56.9 million -Approximately $35 - $40 million in reserves available for other priorities

Five Year Totals at 4% Growth Tourist Development Tax 1-5 th Cents (in millions) Revenue Base Amounts City receives surplus TDT revenues to help finance Community Venues

Five Year Totals at 4% Growth Tourist Development Tax 1-5 th Cents (in millions) Revenue Base Amounts City $107.3 County $764.9

Tourist Development Tax County Funding -$25 million over 5 years from TDT reserves for tourism promotion -$2.5 million over 5 years from TDT reserves for sports tourism -$10 million over 5 years from TDT reserves for additional Convention Center capital improvements -$137,500 incentive funds for 2014 March Madness

Five Year Totals at 4% Growth Tourist Development Tax 1-5 th Cents (in millions) Revenue Base Amounts City receives surplus TDT revenues to help finance Community Venues

Tourist Development Tax City Funding – Surplus TDT Revenues -$25 million additional for the new Performing Arts Center -$12 million additional for “Competitive Scope” enhancements for Citrus Bowl -$20 million contribution for MLS Soccer Stadium

Tourist Development Tax Proposed Uses TDT Reserves Community Venues Agreement Tourism Promotion$ 25 Attracting Sporting Events 2.6 Future Convention Center Capital 10 Performing Arts Center$ 25 Citrus Bowl12 Soccer20 Total$ 37.6$ 57 Proposed TDT Funding Summary (in millions)

Tourist Development Tax Visit Orlando Community Venues Performing Arts Center Citrus Bowl MLS Soccer Stadium Actions Requested Outline

Tourist Development Tax Visit Orlando Community Venues Performing Arts Center Citrus Bowl MLS Soccer Stadium Actions Requested Outline

Actions Requested Approval of: 1.Third Amendment to Orlando/Orange County Interlocal Agreement - and - Amended and restated Interlocal Agreement 2. Tourist Development Plan Amendment Ordinance 3.Third Addendum to the 2007 Tourism Promotion Agreement with Visit Orlando -and- Agreement with Central Florida Sports Commission

Proposed Uses of Tourist Development Tax October 22, 2013 ORANGE COUNTY