USL PRO club Orlando City SC have been formally invited to present their financial plans for a multipurpose soccer stadium in downtown Orlando, FL to the Orange County Board of Commissioners on August 6th. They will make a second presentation on August 9th to the Tourist Development Council (TDT), according to a press statement released by the team today. The two organizations will vote on the proposals at a later date, after hearing the presentations from the team.
Phil Rawlins, Orlando City SC President, commented about the proposal:
We have always said that if we could agree to a private/public partnership to build the soccer stadium, then Major League Soccer (MLS) would be a reality for Orlando. We are delighted to have the opportunity to present our plans to the County Commissioners and the TDC. We have a great story to tell for all of Central Florida and look forward to gaining this crucial support for this exciting project.
The proposal involves two phases according to the press release: phase 1 is estimated to have a cost of $85 million, which will the team hopes will be funded in part by a $20 million request from TDT, and the team’s ownership will subsidize another $30 million. Orlando City SC will be responsible for any building cost overruns as well as all of the MLS expansion fees.