Citrus Bowl Renovation Deal Announced
Monday, June 25, 2012
By: Matthew Peddie

The mayors of Orange County and Orlando announced a finalized deal Monday to fund renovation of the Citrus Bowl stadium. Renovations are expected to get underway in early 2014

Orlando mayor Buddy Dyer and Orange County mayor Teresa Jacobs signed two ceremonial footballs at the Citrus Bowl, as they outlined how the aging stadium will be renovated.

Mayor Dyer says he’s pleased the two could put aside their differences.

"I am so proud that we have been able to put aside politics and get a project done that is incredibly important to the citizens of Orlando and Orange County in Central Florida.”

The deal allows Orlando to issue bonds for the Citrus Bowl renovations earlier than anticipated. Reserve funds will also be increased in case of any decline in tourist development tax revenue backing the bonds.

Property taxes won't be used as a credit source.

Orange County Mayor Teresa Jacobs said she was pleased the agreement won’t take away from funds needed to renovate the Convention Center.

Jacobs’ concerns about balancing the renovation needs of different venues were a major sticking point before the deal was worked out.  

"What was most crucial to the county in coming into this was that this in no way impacts our planned improvements for the convention center, it’s a major economic engine, and I very much appreciate mayor Dyer’s recognition of that.”

The 175 million dollar renovation will include demolishing and rebuilding the lower bowl, with capacity for 70,000 spectators. Plans also call for 4,000 club seats, 10 new suites, and new concessions, locker rooms and rest rooms.

Renovation of the stadium is expected to begin early in 2014 and take 11 months to complete.