A MESSAGE FROM E R I C D . H A R T, C V E PRESIDENT/CEO I AM PLEASED TO PRESENT THE RECOMMENDED OPERATING AND CAPITAL BUDGET FOR THE FISCAL YEAR 2021-22. THIS BUDGET WAS DEVELOPED BY STAFF AND INCLUDED A REVIEW BY THE HILLSBOROUGH COUNTY AND CITY OF TAMPA FINANCE STAFFS, ALONG WITH THE AUTHORITY’S FINANCE COMMITTEE. THIS BUDGET REFLECTS THE CONTINUED EMPHASIS ON GUEST AND EMPLOYEE SAFETY, ALONG CAPITAL REPAIRS TO THE VENUE. THE COVID-19 PANDEMIC HAS HAD A SIGNIFICANT IMPACT THROUGHOUT AUTHORITY OPERATIONS. THE PANDEMIC CAUSED A COMPLETE LOSS OF REVENUES FOR A 90DAY PERIOD DURING MID-MARCH THROUGH MID-JUNE. THE SUSPENSION OF EVENT OPERATIONS CAUSED THE CANCELLATION OF THE XFL, WRESTLEMANIA 36, A GUNS N’ ROSES CONCERT AND THE POSTPONEMENT OF THE KENNY CHESNEY AND ROLLING STONES CONCERTS, WHICH HAD A SIGNIFICANT IMPACT FOR OUR OPERATING BUDGET AND TOURISM RELATED REVENUES FOR THE COMMUNITY. THE AUTHORITY TOOK IMMEDIATE STEPS TO REDUCE OPERATING COSTS AND PROVIDE A SAFE ENVIRONMENT FOR STAFF. THE AUTHORITY STAFF USED THIS CLOSURE PERIOD TO COMPLETE CAPITAL PROJECTS AND PREPARE THE VENUE FOR REOPENING, WITH A GREATER EMPHASIS ON THE SAFETY OF OUR EMPLOYEES AND CUSTOMERS. DURING JULY, HILLSBOROUGH COUNTY PROVIDED CARES ACT FUNDING TO COMPLETE ADDITIONAL SAFETY IMPROVEMENTS TO THE VENUE IN ACCORDANCE WITH CDC GUIDELINES. WHILE RAYMOND JAMES STADIUM HAS STARTED HOSTING EVENTS IN EXTERIOR SPACES, WE HAVE NOT HOSTED A REVENUE PRODUCING EVENT WITHIN THE STADIUM SINCE CLOSURE IN LATE MARCH. WE ANTICIPATE THIS CLOSURE TO CONTINUE UNTIL THE START OF OUR USF FOOTBALL SEASON AND BUCCANEERS SEASON IN MID-SEPTEMBER. WHILE COVID-19 HAS HAD A DRAMATIC IMPACT ON OUR CURRENT REVENUES, THERE ARE SEVERAL BRIGHT SPOTS FOR RAYMOND JAMES STADIUM. THE VENUE CURRENTLY SERVES AS THE LARGEST COVID-19 TESTING SITE IN HILLSBOROUGH COUNTY. ADDITIONALLY, THE AUTHORITY WAS ABLE TO LEVERAGE OUR SUPPLIERS TO PROVIDE SCARCE PERSONAL PROTECTIVE EQUIPMENT TO HILLSBOROUGH COUNTY FOR COMMUNITY FIRST RESPONDERS DURING THE EARLY STAGES OF THE PANDEMIC. ADDITIONALLY, WE HAVE BEEN VERY PLEASED TO SEE A RESURGENCE IN THE INTEREST IN USE OF THE VENUE FOR THE UPCOMING FISCAL YEAR. WE BELIEVE THIS IS A POSITIVE SIGN FOR THE LONG-TERM RECOVERY AFTER THE PANDEMIC. WE ARE PLEASED TO BE A BRIGHT SPOT FOR THE COMMUNITY WHEN IT NEEDED IT MOST.
THE PRESIDENT/CEO THE AUTHORITY CONTINUES TO MODIFY ITS ORGANIZATIONAL STRUCTURE AND MAKE MODIFICATIONS IN OPERATING AND EVENT STAFFING POLICIES WHICH ARE DESIGNED TO REDUCE COSTS, IMPROVE EFFICIENCY AND BETTER MEET THE NEEDS OF THE COMMUNITY AND AUTHORITY CLIENTS AND TENANTS. AUTHORITY MANAGEMENT HAS CONTINUED TO STRIVE TO ATTRACT NEW EVENTS TO BE HELD AT RAYMOND JAMES STADIUM AND PRIOR TO THE PANDEMIC, WE WERE EXPERIENCING ONE OF THE HIGHEST REVENUE PRODUCING YEARS IN OUR HISTORY. IN THE COMING MONTHS, THE MANAGEMENT TEAM WILL BE TASKED WITH FINDING NEW AND CREATIVE WAYS TO OPERATE THE STADIUM AND INCORPORATE ADDITIONAL PRIVATE SECTOR PRACTICES INTO OUR OPERATIONS. AS AN ILLUSTRATION OF THE RESULTS OF THESE EFFORTS, RAYMOND JAMES STADIUM WILL HOST SUPER BOWL LV IN 2021 AND HAS RESCHEDULED MANY OF THE POSTPONED EVENTS FROM 2021. RESPECTFULLY,
TO PLAN, DEVELOP, PROMOTE AND MAINTAIN A COMPREHENSIVE COMPLEX OF SPORTS AND RECREATION FACILITIES FOR THE USE AND ENJOYMENT OF THE CITIZENS OF TAMPA AND HILLSBOROUGH COUNTY.
MISSION STATEMENT
TO FACILITATE THE CONSTRUCTION AND OPERATIONS OF NEEDED, USER-FEE SUPPORTED SPORTS AND RECREATIONAL FACILITIES. TO ENCOURAGE AND NOT COMPETE WITH THE PRIVATE SECTOR. “USER-FEE SUPPORTED” DISTINGUISHES US FROM A PARKS AND RECREATION DEPARTMENT.
OUR ROLE
ADMINISTRATIVE
VISION STATEMENT
TO PROVIDE ECONOMIC DEVELOPMENT AND ENHANCE THE QUALITY OF LIFE THROUGH SPORTS AND RECREATION.
TABLE OF CONTENTS TAMPA SPORTS AUTHORITY BOARD OF DIRECTORS
5-6
TAMPA SPORTS AUTHORITY ORGANIZATIONAL CHART
7
EVENTS YEAR IN REVIEW
8-10
BUDGET REQUEST AND ASSUMPTIONS
ABOUT THE AUTHORITY
THE TAMPA SPORTS AUTHORITY, A GOVERNMENT ENTITY, IS AN INDEPENDENT SPECIAL DISTRICT CREATED BY THE FLORIDA LEGISLATURE IN 1965 TO CONSTRUCT AND MANAGE SPORTS AND RECREATIONAL FACILITIES IN HILLSBOROUGH COUNTY. THE AUTHORITY’S MISSION IS TO PROVIDE ECONOMIC DEVELOPMENT AND ENHANCE THE QUALITY OF LIFE THROUGH SPORTS AND RECREATION. THE AUTHORITY HAS NO TAXING POWER, BUT RATHER ACTS AS AN ENTERPRISE FUND UTILIZING USER-FEES TO SUBSIDIZE ITS OPERATING COSTS. AS A RESULT, ALL OF ITS MAJOR CAPITAL CONSTRUCTION PROJECTS FROM THE ORIGINAL TAMPA STADIUM, GOLF COURSES, HILLSBOROUGH COUNTY TOURNAMENT SPORTSPLEX, AMALIE ARENA, GEORGE STEINBRENNER FIELD AND RAYMOND JAMES STADIUM HAVE BEEN ACCOMPLISHED BY WORKING CLOSELY WITH THE APPROVALS AND FINANCIAL SUPPORT OF HILLSBOROUGH COUNTY AND THE CITY OF TAMPA. RAYMOND JAMES STADIUM WAS CONSTRUCTED WITH FUNDS FROM THE COMMUNITY INVESTMENT TAX (CIT). THE CIT IS A 30-YEAR HALF-CENT LOCAL OPTION SALES TAX. THE FIRST 25% OF THE TOTAL PROJECTED CIT COLLECTIONS GOES TO BUILD NEW SCHOOLS. THE NEXT AMOUNT IS APPLIED TO DEBT PAYMENTS ON THE STADIUM BONDS (APPROXIMATELY 7% OF THE TOTAL) AND THE REMAINING 68% IS DIVIDED BETWEEN THE COUNTY AND THE THREE CITIES IN HILLSBOROUGH COUNTY FOR ROADS, SIDEWALKS, BUILDINGS AND PUBLIC SAFETY NEEDS. (SEE PAGE 23) MORE THAN 800,000 FANS ENJOYED THE VARIOUS EVENTS AND FUNCTIONS HELD AT RAYMOND JAMES STADIUM THIS PAST YEAR. IN ADDITION TO HOSTING THE BUCCANEERS AND USF FOOTBALL SEASONS, THE AUTHORITY ALSO HOSTED MAJOR EVENTS SUCH AS THE OUTBACK BOWL, TWO MONSTER JAMS, SUPERCROSS, TWO XFL GAMES, A COLUMBIA VS. VENEZUELA MEN’S SOCCER MATCH AND FOR THE SECOND TIME THE BAD BOY MOWERS GASPARILLA BOWL WAS HELD AT RAYMOND JAMES STADIUM. ALL OF THESE EVENTS WERE MANAGED ALONG WITH MORE THAN 70 BANQUETS, SPECIAL EVENTS, FESTIVALS AND PARKING LOT EVENTS. UNFORTUNATELY, MUCH MORE WAS PLANNED AT RAYMOND JAMES STADIUM FOR THE YEAR, SUCH AS WRESTLEMANIA, THE REMAINDER OF THE XFL SEASON, A KENNY CHESNEY CONCERT, A ROLLING STONES CONCERT, A GUNS N’ ROSES CONCERT, AND SUNSET MUSIC FESTIVAL. THESE EVENTS WERE CANCELLED DUE TO THE COVID-19 PANDEMIC. WE HAVE MADE GREAT PROGRESS IN REBOOKING THESE CANCELLED EVENTS FOR FUTURE DATES. THE NFL PLAYERS ASSOCIATION CONTINUES TO RANK RAYMOND JAMES STADIUM AS ONE OF THE BEST PLAYING FIELDS IN THE NFL.
CONTRIBUTION REQUESTS
11
BUDGET REVENUE & EXPENSE ASSUMPTIONS
12
BUDGET NOTES
13-14
STATEMENT OF REVENUE AND EXPENSES-COMPARATIVE
15-17
CAPITAL PROJECTS 2020 CAPITAL PROJECT HIGHLIGHTS
18
PROPOSED CAPITAL PROJECT BUDGET (THROUGH 2022)
19
PROPOSED CAPITAL PROJECTS (FY 2021)
20
PROPOSED CAPITAL PROJECTS (FY 2022)
21
PROJECTED CAPITAL COSTS OVERVIEW (THROUGH 2028)
22
DEBT SERVICE HILLSBOROUGH COUNTY COMMUNITY INVESTMENT TAX (CIT)
23
DEBT SERVICE REQUIREMENTS
24
BOARD OF DIRECTORS
RANDY LARSON
ANDREW SCAGLIONE
MARK S. WOODARD
CHAIRMAN
VICE CHAIRMAN
SECRETARY/TREASURER
JOHN JAEB
VINCENT MARCHETTI
TONY MUNIZ
DON DEFOSSET
HON. ORLANDO GUDES
HON. KEN HAGAN
LUCIANO PRIDA, JR.
THOMAS SCOTT
ERIC D. HART, CVE PRESIDENT/CEO
5
6
ORGANIZATIONAL CHART
TA M PA B AY B U C C A N E E R S
BO ARD OF DIRECTORS
THE 2020 SEASON IS THE TAMPA BAY BUCCANEERS’ 45TH IN THE NATIONAL FOOTBALL LEAGUE AND THEIR SECOND UNDER HEAD COACH BRUCE ARIANS. THEY WILL ATTEMPT TO IMPROVE UPON THEIR 7–9 RECORD FROM THE PREVIOUS SEASON AND MAKE THE PLAYOFFS FOR THE FIRST TIME SINCE 2007. THE DEFENSE IMPROVED DRASTICALLY IN COACH ARIAN’S FIRST YEAR.
PRESIDENT/CEO ERIC HART
VP/FINANCE & ADMINISTRATION
SR VP/STADIUM OPERATIONS
VP/MARKETING & COMMUNICATIONS
HUMAN RESO URCE S
E V E N T O P E R AT I O N S
MARKETING
FINANCIA L PLA NNI NG
M E R C H A N D I S E S A LE S
MEDIA
DAVI D BYR N E
MICKEY FARREL L
C A P I TA L P R O J E C T S
C O M M U N I C AT I O NS
PAYR OLL/A P/ R
FA C I LI T I E S M A N A G E M E N T
GRAPHIC DESIGN
BO ND OV ER SIG HT AND MANAG EME NT
FO O D & B E V E R A G E
SOCIAL MEDIA
PURC HA SIN G
HOUSEKEEPING
W E B S I T E / M A I N T E NA NC E
C AS H HANDLI NG
TAMPA SPORTS AUTHORITY: EXECUTIVE TEAM (PICTURED RIGHT) (L-R) MICKEY FARRELL (SR. VP OF STADIUM OPERATIONS), BOBBY SILVEST (VP OF MARKETING & COMMUNICATIONS), ERIC HART (PRESIDENT/CEO), DAVID BYRNE (VP OF FINANCE/ADMINISTRATION), REBECCA SKYLES (EXECUTIVE ASSISTANT TO CEO), KENNIE SIMS (VP OF GOLF OPERATIONS)
7
BOBBY SILVEST
RIS K MA NA GEM E NT
BUDG ETING C OO RD INATION
YEAR IN REVIEW
ON MARCH 20, 2020, THE TEAM AGREED TO TERMS WITH FORMER NEW ENGLAND PATRIOTS QUARTERBACK TOM BRADY. THE BUCCANEERS ALSO TRADED FOR BRADY’S FORMER PATRIOTS TEAMMATE, TIGHT END ROB GRONKOWSKI. THIS COMBINED WITH OFFENSIVE WEAPONS LIKE MIKE EVANS AND CHRIS GODWIN HAVE BUCS FANS VERY OPTIMISTIC FOR A GREAT SEASON. THE TEAM UNVEILED NEW UNIFORMS ON APRIL 7, 2020, THEIR FIRST UNIFORM CHANGE SINCE 2014. THE NEW UNIFORMS ARE SIMILAR IN DESIGN TO THE ONES THEY WORE FROM 1997 TO 2013.
USF FOOTBALL THE UNIVERSITY OF SOUTH FLORIDA BULLS STRUGGLED IN COACH CHARLIE STRONG’S THIRD YEAR, FINISHING WITH A RECORD OF 4–8 (2–6 IN THE AMERICAN). ON DECEMBER 1ST, 2019, STRONG WAS FIRED TWO DAYS AFTER A 34–7 LOSS TO UCF, WHICH MARKED THE THIRD STRAIGHT LOSS TO THEIR IN-STATE RIVAL. ON DECEMBER 9, 2019, USF ANNOUNCED THAT JEFF SCOTT WOULD BE THE PROGRAM’S FIFTH HEAD COACH. SCOTT WAS PREVIOUSLY THE CO-OFFENSIVE COORDINATOR AT CLEMSON, WHERE HE WON TWO NATIONAL CHAMPIONSHIPS (2016 & 2018). THIS ADDITION ALONG WITH SOME KEY COACHING HIRES MAKES BULLS NATION VERY OPTIMISTIC FOR THE 2020 SEASON.
8
YEAR IN REVIEW
YEAR IN REVIEW
OUTBACK BOWL
MONSTER JAM
THE 2020 OUTBACK BOWL FEATURED THE AUBURN TIGERS OF THE SOUTHEASTERN CONFERENCE AND THE MINNESOTA GOPHERS OF THE BIG TEN CONFERENCE, WITH 40,000 FANS IN ATTENDANCE.
FELD ENTERTAINMENT CONTINUES TO DELIVER OUTSTANDING EVENTS WITH TWO MONSTER JAMS EACH SEASON, WHICH ATTRACTED ALMOST 80,000 FANS. THIS REGULAR EVENT AT RAYMOND JAMES STADIUM CONTINUES TO BE VERY POPULAR AND BRINGS SOME OF THE LARGEST CROWDS OF THE YEAR.
THIS WAS MINNESOTA’S FIRST TIME PLAYING IN THE OUTBACK BOWL, AND THEY CAME AWAY WITH A VICTORY, DEFEATING AUBURN 31-24.
G A S PA R I L L A B O W L THE 2019 BAD BOY MOWER’S GASPARILLA BOWL WAS HOSTED AT RAYMOND JAMES STADIUM FOR THE SECOND TIME. THE GAME MATCHED THE UCF KNIGHTS OF THE AMERICAN ATHLETIC CONFERENCE (THE AMERICAN) AND THE MARSHALL THUNDERING HERD OF CONFERENCE USA (C–USA). IT WAS THE FOURTH APPEARANCE IN THE GASPARILLA BOWL FOR BOTH TEAMS, WITH 14,695 FANS IN ATTENDANCE. UCF DEFEATED MARSHALL 48-25.
9
SUPERCROSS THE MONSTER ENERGY AMA SUPERCROSS CHAMPIONSHIP RETURNED TO RAYMOND JAMES STADIUM IN 2020. APPROXIMATELY 35,000 FANS ENJOYED WATCHING THE TOP RIDERS IN THE WORLD IN THIS INTERNATIONAL COMPETITION.
10
CONTRIBUTION REQUESTS THIS YEAR’S ANTICIPATED PROPERTY TAXES, ALONG WITH THE STADIUM’S OPERATING AND MAINTENANCE (O & M) EXPENSES OUTLINED IN THIS DOCUMENT, REQUIRE THE AUTHORITY TO REQUEST CONTRIBUTIONS OF $2,866,211 FROM THE CITY AND COUNTY TO MEET NEXT YEAR’S CONTRACTUAL OBLIGATIONS. THE AUTHORITY HAS EXISTING INTER-LOCAL AGREEMENTS WITH THE CITY OF TAMPA AND HILLSBOROUGH COUNTY, WHICH PROVIDE THAT IN THE EVENT THE AUTHORITY IS UNABLE TO PAY ITS OPERATING COSTS, THE CITY WILL PAY ONE THIRD (1/3) AND THE COUNTY WILL PAY TWO THIRDS (2/3) OF ANY DEFICIT AFTER THE AUTHORITY DEPLETES ITS O & M RESERVE FUND. THEREFORE, THE AUTHORITY WILL BE ASKING THE CITY OF TAMPA TO CONTRIBUTE $955,404 AND HILLSBOROUGH COUNTY TO CONTRIBUTE $1,910,808 TO FUND NEXT YEAR’S OPERATIONS. THE FOLLOWING SCHEDULE SHOWS ACTUAL AND PROJECTED CONTRIBUTIONS FROM THE CITY AND COUNTY:
BUDGETED FY-2020 *
FORECAST FY-2020*
PROPOSED FY-2021**
PROPOSED FY 2022 ***
CITY (1/3)
$
640,211 $
COUNTY (2/3)
$
1,280,422 $
1,281,636 $ 1,910,808 $ 1,314,955
TOTAL REQUEST (OPERATIONS AND MAINTENANCE)
$
1,920,633 $
1,922,454 $ 2,866,211 $ 1,972,433
CAPITAL REQUEST
$ 11,648,114 $ 11,648,114 $
TOTAL REQUEST (O&M AND CAPITAL)
640,818 $
955,404 $
-
657,478
$
-
$ 13,568,747 $ 13,570,568 $ 2,866,211 $ 1,972,433
CAPITAL REQUEST FUNDED BY 4TH CENT TOURIST DEVELOPMENT TAXES AND SAVINGS GENERATED FROM AUTHORITY BOND REFUNDINGS. * 2020 FUNDING AMOUNT REDUCED BY FY-2017 $838,979 NET GAIN. ** 2021 FUNDING AMOUNT REDUCED BY FY-2018 $720,455 NET GAIN. *** 2022 FUNDING AMOUNT REDUCED BY FY-2019 $1,065,791 NET GAIN.
BUDGET REVENUE & EXPENSE ASSUMPTIONS REVENUES FOR FY-2021 WERE DEVELOPED FROM THE FOLLOWING ASSUMPTIONS: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
11 BUCCANEER GAMES (2 PRESEASON) 6 USF GAMES 2 MONSTER JAMS OUTBACK BOWL GASPARILLA BOWL 2 NON-PROMOTED CONCERTS 2-DAY SUNSET MUSIC FESTIVAL NO INCREASE IN PARKING RATES NO INCREASE IN CONCESSION FEES USE OF 2018 NET GAIN TO REDUCE FY-2021 OPERATING SUBSIDY REQUEST
EXPENSES FOR FY-2021 WERE DEVELOPED FROM THE FOLLOWING ASSUMPTIONS: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20.
11 BUCCANEER GAMES (2 PRESEASON)6 USF GAMES 2 MONSTER JAMS OUTBACK BOWL GASPARILLA BOWL 2 NON-PROMOTED CONCERTS 2-DAY SUNSET MUSIC FESTIVAL SUPERBOWL- AUTHORITY’S COSTS REIMBURSED NO INCREASE IN WAGES AND SUSPENSION OF BONUS PLAN A 14% INCREASE IN FRS RETIREMENT COSTS, RATES DETERMINED INDEPENDENT OF AUTHORITY AN INCREASE IN INSURANCE DUE TO AN INCREASE IN PROPERTY PREMIUM AN ESTIMATED 0% INCREASE IN FLORIDA MINIMUM WAGE IS INCLUDED FOR PART-TIME PERSONAL AND VARIOUS OTHER CONTRACTS 3% INCREASE IN UTILITIES 9% INCREASE IN HEALTH INSURANCE COSTS COMPLETING MANY CAPITAL PROJECTS WITH IN-HOUSE STAFF VS. USING CONTRACTED STAFF PROPERTY TAX INCREASES RELATED TO ANTICIPATED INCREASED VALUES REDUCTION IN TRAVEL EXPENSES MAINTAINED INCREASE IN CONSULTANT COSTS RELATED TO NEW TENANT ACQUISITIONS IMPACT OF HOME NFL PLAYOFF GAMES NOT INCLUDED DROP IMPACT ESTIMATED TO BE $9,999
*THESE WERE PREPARED WITH REDUCED ATTENDANCE EXPECTATIONS THROUGH JANUARY 1, 2021.
11
12
BUDGET NOTES 1. ACCRUAL ACCOUNTING: THE AUTHORITY’S BUDGET IS PRESENTED ON AN ACCRUAL BASIS. MONTHLY FINANCIAL STATEMENTS ALONG WITH BUDGET DOCUMENTS ARE PRESENTED ON A FULL ACCRUAL BASIS OF ACCOUNTING.
2. CAPITAL IMPROVEMENTS: CAPITAL IMPROVEMENT ACTIVITY IS NOT INCLUDED IN THE BUDGET
SUMMARY, BUT IS SHOWN AS A SEPARATE SCHEDULE IN THIS REPORT. THE AUTHORITY IS RESPONSIBLE FOR THE ONGOING CAPITAL REPAIRS AT RAYMOND JAMES STADIUM. BETWEEN FISCAL YEARS 2007-2023, AUTHORITY WILL RECEIVE $15,000,000 FROM THE TOURIST DEVELOPMENT TAX (TDT) TO FUND STADIUM CAPITAL REPAIRS AND IMPROVEMENTS OVER 20 YEARS.
3. DEBT SERVICE: DEBT SERVICE ACTIVITY IS NOT INCLUDED IN THE BUDGET SUMMARY, BUT IS SHOWN
AS A SEPARATE SCHEDULE TO THIS REPORT. FUNDING SOURCES FOR THE STADIUM FROM DEBT SERVICE ACTIVITY ARE PRIMARILY FROM SALES TAX FUNDING. NO NEW DEBT RELATED TO RAYMOND JAMES STADIUM IS ANTICIPATED FOR THE NEXT FISCAL YEAR.
4. SALARIES: WAGES INCLUDE FULL-TIME, PART-TIME AND OVER-TIME ESTIMATES AND CORRESPONDING BENEFITS SUCH AS SOCIAL SECURITY, RETIREMENT AND HEALTH INSURANCE.
5. BUCCANEERS LICENSE FEE: IN ACCORDANCE WITH THE TERMS OF THE STADIUM AGREEMENT
BETWEEN THE AUTHORITY AND THE TAMPA BAY BUCCANEERS, DATED AUGUST 28, 1996, THE BUCCANEERS PAY AN ANNUAL RENT OF $3,500,000. THE BUCCANEERS RETAIN ALL ADMISSIONS, CONCESSIONS, PARKING AND ADVERTISING REVENUES GENERATED AS A RESULT OF THEIR EVENTS. ADDITIONALLY, THE BUCCANEERS RETAIN ALL SUITE LEASE REVENUES AND ADVERTISING REVENUES AT RAYMOND JAMES STADIUM.
6. TICKET SURCHARGES: A SURCHARGE OF 8% IS PLACED ON ALL TICKETS SOLD AT RAYMOND JAMES
STADIUM WITH A MAXIMUM SURCHARGE AMOUNT OF $2.50 PER ADMISSION TICKET. TICKET SURCHARGES ARE CHARGED ON EVERY PAID ENTRY TICKET AND ARE PAID TO THE AUTHORITY, NOT TO EXCEED $1,930,000 ANNUALLY (BEGINNING FEBRUARY 1 OF EACH YEAR). SURCHARGE REVENUES THAT EXCEED $1,930,000 ARE PLACED IN A RESTRICTED RESERVE ACCOUNT. SURCHARGE RESERVES ARE PERMITTED TO BE USED BY THE AUTHORITY TO REACH THE $1,930,000 ANNUAL SURCHARGE CAP. IF THE CUMULATIVE SURCHARGE RESERVE EXCEEDS $1,000,000, ALL RESERVE AMOUNTS IN EXCESS OF $1,000,000 CAN BE USED BY THE BUCCANEERS FOR CAPITAL INVESTMENTS IN RAYMOND JAMES STADIUM. IN THE EVENT THAT SURCHARGE REVENUES DO NOT REACH THE $1,930,000 ANNUAL SURCHARGE CAP, THE AUTHORITY USES ANY EXCESS FUNDS IN THE SURCHARGE RESERVE ACCOUNT TO REACH THE $1,930,000 SURCHARGE CAP. IN THE EVENT THE SURCHARGE RESERVE DOES NOT HAVE SUFFICIENT FUNDS TO BE APPLIED TO REACH THE SURCHARGE CAP, THE AUTHORITY HAS THE RIGHT TO IMPLEMENT SURCHARGES ON FOOD AND BEVERAGE AND/ OR PARKING TO ADDRESS ANY SURCHARGE SHORTFALLS. THE BUCCANEERS HAVE THE RIGHT TO PAY ANY SURCHARGE REVENUE CAP SHORTAGES IN LIEU OF THE AUTHORITY IMPLEMENTING ANY NEW SURCHARGES. THE BUCCANEER’S AGREED TO FUND ANY SHORTFALL IN 2020 IN LIEU OF ANY SURCHARGE IMPLEMENTATION. THE PRESENT BALANCE IN THE SURCHARGE RESERVE FUND, AFTER THE BUCCANEER’S SHORTFALL PAYMENT IS $0.
BUDGET NOTES 8. TAXES:
A. INCOME TAX: THE AUTHORITY IS A GOVERNMENTAL AGENCY AND THEREFORE EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER PROVISIONS OF THE INTERNAL REVENUE CODE AND THE FLORIDA INCOME TAX CODE, RESPECTIVELY. THERE ARE NO PROVISIONS FOR INCOME TAXES IN THE BUDGET. B. AD VALOREM AND TANGIBLE PROPERTY TAX: AD VALOREM AND TANGIBLE PROPERTY TAXES ARE ESTIMATED BASED UPON AVAILABLE ASSESSED PROPERTY VALUES FROM THE HILLSBOROUGH COUNTY PROPERTY ASSESSOR’S OFFICE AND THE ESTIMATED TAX MILLAGE AVAILABLE AT THE TIME THE BUDGET IS PREPARED. WHEN THE ACTUAL AD VALOREM AND TANGIBLE TAX NOTICES ARE RECEIVED IN NOVEMBER OF EACH FISCAL YEAR, THE ESTIMATED TAX AMOUNT DETERMINED FOR BUDGET PURPOSES WILL BE ADJUSTED TO REFLECT THE ACTUAL TAX AMOUNT. THE ACTUAL TAX AMOUNT WILL BE REFLECTED ON THE REQUESTS FOR REIMBURSEMENT FROM THE CITY OF TAMPA AND FROM HILLSBOROUGH COUNTY. THE AUTHORITY’S BUDGET CONTAINS AD VALOREM PROPERTY TAX PAYMENTS FOR NEW YORK YANKEES MINOR LEAGUE COMPLEX, PORTIONS OF RAYMOND JAMES STADIUM AND THE SOUTH PROPERTY WHICH IS OWNED BY THE AVIATION AUTHORITY AND LEASED BY THE AUTHORITY. ADDITIONALLY, THE AUTHORITY BUDGET CONTAINS TANGIBLE PROPERTY TAX PAYMENTS FOR THE BUCCANEERS PROPERTY WITHIN RAYMOND JAMES STADIUM.
9. PRODUCE EVENTS: THE AUTHORITY SUCCESSFULLY CO-PRODUCED A SUPERCROSS EVENT IN
FY-2020 AND PRODUCED KENNY CHESNEY CONCERTS AT RAYMOND JAMES STADIUM IN 2011, 2012 AND 2013. PRIOR TO 2011, THE AUTHORITY ACTED AS A LANDLORD WITH CLIENTS WHO PROMOTED CONCERTS IN RAYMOND JAMES STADIUM. SINCE 2011, THE AUTHORITY HAS ACTED AS AN EVENT PROMOTER AND SELF-PRODUCED SEVERAL CONCERTS WITH THE GOAL OF GENERATING ADDITIONAL REVENUE. THE AUTHORITY CONTINUES TO ENCOURAGE PROMOTERS TO PRODUCE EVENTS IN THE STADIUM, WHEN EVALUATING THESE OPPORTUNITIES, THE AUTHORITY STRATEGICALLY EVALUATES THE RISKS AND REWARD OF SELF-PROMOTION. THE NEED TO PRODUCE EVENTS IS NEW FOR MANY STADIUMS AND IS PRIMARILY DUE TO CHANGES IN THE EVENT INDUSTRY AND A DECLINE IN EVENT PROMOTERS AND ACTS WHICH HAVE THE ABILITY TO SELL TICKETS FOR SUCH LARGE STADIUMS. THERE ARE INHERENT RISKS WITH SELF-PROMOTING EVENTS AND AUTHORITY MANAGEMENT WILL CONTINUE TO WORK CLOSELY WITH THE AUTHORITY BOARD OF DIRECTORS AND THE CITY AND COUNTY ADMINISTRATIONS TO GAIN APPROVAL AND A BETTER UNDERSTANDING OF THE RISKS AND POSSIBLE RETURN ON INVESTMENT. ADDITIONALLY, THE AUTHORITY HAS ESTABLISHED A $500,000 EVENT DEVELOPMENT FUND (WHICH WAS FUNDED FY-2018 AND 2019 FROM PRIOR POSITIVE BUDGET VARIANCES) IN ORDER TO OFFSET THE POTENTIAL RISKS OF PRODUCING EVENTS.
7. OTHER EVENT REVENUES: DURING EACH CONTRACT YEAR BEGINNING FEBRUARY 1, THE AUTHORITY
COLLECTS AND PAYS TO THE BUCCANEERS: A. THE FIRST $2,000,000 OF REVENUES (NET OF SALES TAX, SURCHARGES AND DIRECT EVENT COSTS) RECEIVED FROM RENTS, CONCESSIONS AND PARKING FOR ALL STADIUM EVENTS. B. THIRTY THREE PERCENT (33%) OF ALL REVENUES ABOVE THE FIRST $2,000,000 AND BELOW $3,500,000 (NET OF SALE TAX, SURCHARGES AND DIRECT EVENT COSTS) RECEIVED FROM RENTS, CONCESSIONS AND PARKING FOR ALL STADIUM EVENTS. C. FIFTY PERCENT (50%) OF ALL REVENUES ABOVE $3,500,000 (NET OF SALE TAX, SURCHARGES AND DIRECT EVENT COSTS) RECEIVED FROM RENTS, CONCESSIONS AND PARKING FOR ALL STADIUM EVENTS.
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14
STATEMENT OF REVENUE & EXPENSES FY 2019
FY 2020
FY 2020
FY 2021
FY 2022
ACTUAL
BUDGET
FORECAST
PROPOSED
PROPOSED
OPERATING REVENUES
STATEMENT OF REVENUE & EXPENSES TOTAL GROSS OPERATING REVENUES
BUCCANEERS LICENSE FEES
$ 3,500,000 $ 3,500,000 $ 3,500,000 $ 3,500,000 $ 3,500,000
TICKET SURCHARGE
$ 851,923 $ 1,357,393 $ 1,111,929 $ 2,060,918 $ 1,265,472
Total Net Operating Revenues
PARKING
$ 37,108 $ 25,000 $ 12,109 $ 17,857 $ 16,129
OPERATING EXPENSES
TOTAL BUCCANEERS
$ 4,389,031 $ 4,882,393 $ 4,624,038 $ 5,578,775 $ 4,781,601
COLLEGE FOOTBALL
Less: Revenue Splits
FY 2019
FY 2020
FY 2020
FY 2021
FY 2022
ACTUAL
BUDGET
FORECAST
PROPOSED
PROPOSED
$ 14,899,652 $ 20,296,300 $ 12,874,667 $ 14,929,412 $ 17,419,206
$ (3,518,997) $ (3,746,570) $ (2,700,837) $ (3,573,876) $ (2,338,660) $ 11,380,655 $ 16,549,730 $ 10,173,831 $ 11,355,537 $ 15,080,546
SALARIES & WAGES
$
3,117,474
$ 3,208,855 $ 3,017,834 $ 3,058,897 $ 3,202,101
SALARIES & WAGES REIMBURSEMENT
$
(1,164,975)
$ (1,279,422) $ (1,091,243) $ (1,131,538) $ (1,164,948)
FRINGES/RELATED COSTS
$ 1,039,126 $ 1,287,158 $ 1,245,718 $ 1,352,586 $ 1,423,615
LICENSE FEES
$ 2,033,147 $ 2,190,919 $ 1,925,058 $ 2,190,125 $ 2,186,150
COMPUTER EXPENSES
$ 85,732 $ 65,000 $ 63,000 $ 65,000 $ 69,550
TICKET SURCHARGE
$ 362,339 $ 313,770 $ 214,479 $ 199,635 $ 243,394
LICENSES & PERMITS
$ 20,528 $ 17,800 $ 20,000 $ 20,000 $ 20,000
CONCESSIONS
$ 1,069,463 $ 1,029,154 $ 840,322 $ 879,585 $ 874,469
MARKETING & ADVERTISING
$ 129,129 $ 122,025 $ 94,000 $ 131,000 $ 131,000
PARKING
$ 459,721 $ 421,672 $ 347,252 $ 218,045 $ 408,877
MAINT & SUPPLIES FIELDS & BUILDING $ 225,381 $ 200,000 $ 217,700 $ 225,500 $ 232,500
$ 3,924,670 $ 3,955,515 $ 3,327,111 $ 3,487,390 $ 3,712,890
MAINT - CONTRACTUAL
$ 1,025,177 $ 1,116,840 $ 1,113,500 $ 1,116,840 $ 1,123,500
INSURANCE/BONDING
$ 503,097 $ 514,179 $ 537,852 $ 594,083 $ 632,995
TOTAL COLLEGE FOOTBALL
CONCERTS & MOTORSPORTS
EVENT - BUCCANEERS
$ 2,521,124 $ 2,428,160 $ 1,500,484 $ 3,027,668 $ 2,788,610
LICENSE FEES
$ 791,180 $ 3,934,287 $ 529,418 $ 1,515,811 $ 3,930,314
EVENT - DIRECT COSTS
$ 3,484,770 $ 9,375,258 $ 3,295,064 $ 3,955,257 $ 7,286,427
TICKET SURCHARGE
$ 266,660 $ 294,124 $ 189,937 $ 367,412 $ 223,122
EVENT - OTHER COSTS
$ 34,979 $ 0 $ 0 $ 0 $ 0
CONCESSIONS
$ 623,033 $ 807,265 $ 629,140 $ 1,337,918 $ 726,779
EVENT - OFFSITE PARKING
$ 44,434 $ 98,900 $ 152,600 $ 239,570 $ 208,020
PARKING
$ 333,064 $ 401,530 $ 348,533 $ 449,505 $ 540,431
PROFESSIONAL SERVICES
$ 341,251 $ 500,000 $ 312,300 $ 501,000 $ 365,800
TOTAL CONCERTS & MOTORSPORTS
$ 2,013,936 $ 5,437,206 $ 1,697,028 $ 3,670,646 $ 5,420,646
HCAA & CONDO RENTS
$ 269,447 $ 269,447 $ 269,447 $ 269,447 $ 269,447
REAL ESTATE TAXES
$ 431,930 $ 465,238 $ 467,241 $ 487,463 $ 504,335
BUCS INTANGIBLE TAX PAYMENT
$ 0 $ 0 $ 0 $ 0 $ 0
EXCESS REVENUE OVER $2,000,000
$ 2,050,575 $ 739,162 $ 827,731 $ 101,098 $ 1,389,078
BUCS AD VALOREM/TANGIBLE TAX
$ 114,559 $ 114,559 $ 126,756 $ 126,756 $ 126,756
BUCS AD VALOREM/TANGIBLE TAX PAYMENT
$ 114,559 $ 114,559 $ 126,756 $ 126,756 $ 126,756
NYY AD VALOREM TAX PAYMENT
$ 56,319 $ 56,319 $ 60,671 $ 60,671 $ 60,671
NYY AD VALOREM TAX PAYMENT
$ 56,319 $ 56,319 $ 60,671 $ 60,671 $ 60,671
SUPPLIES, POSTAGE & SHIPPING
$ 49,720 $ 52,000 $ 52,250 $ 52,000 $ 53,500
$ 170,877 $ 170,877 $ 187,427 $ 187,427 $ 187,427
UTILITIES & TELEPHONE
$ 446,322 $ 579,391 $ 620,000 $ 647,628 $ 664,131
OTHER
TRAINING & EDUCATION
$ 30,108 $ 73,175 $ 24,500 $ 39,875 $ 58,500
LICENSE FEES
$ 1,034,735 $ 2,710,276 $ 1,217,261 $ 974,030 $ 1,016,649
PENSION & EXPENSES
$ 729,230 $ 0 $ 0 $ 0 $ 0
TICKET SURCHARGE
$ 141,028 $ 251,170 $ 43,883 $ 1,040 $ 1,240
MISCELLANEOUS OTHER
$ 43,629 $ 47,700 $ 120,000 $ 105,500 $ 65,500
CONCESSIONS
$ 350,761 $ 1,015,007 $ 255,580 $ 120,766 $ 138,724
DEPRECIATION
$ 304,685 $ 318,000 $ 307,500 $ 304,800 $ 304,800
PARKING
$ 192,404 $ 389,194 $ 96,183 $ 36,816 $ 37,290
PARKING - OFFSITE
$ 142,272 $ 266,874 $ 169,000 $ 296,083 $ 248,795
RENT
$ 362,632 $ 363,626 $ 369,425 $ 375,342 $ 379,866
MISCELLANEOUS/OTHER
$ 126,729 $ 115,000 $ 60,000 $ 100,000 $ 105,000
TOTAL OTHER
15
TOTAL OPERATING EXPENSES
$ 13,883,174 $ 19,630,582 $ 12,527,175 $ 15,250,003 $ 18,426,809
$ 2,350,562 $ 5,111,147 $ 2,211,332 $ 1,904,077 $ 1,927,564
16
STATEMENT OF REVENUE & EXPENSES FY 2019
FY 2020
FY 2020
FY 2021
FY 2022
ACTUAL
BUDGET
FORECAST
PROPOSED
PROPOSED
NON-OPERATING REVENUES (EXPENSES) CONTRIBUTED OPERATING REVENUE
$ 1,393,080 $ 0 $ 13,570,598 $ 0 $ 0
TSA RESERVE REVENUE
$ 0 $ 0 $ 0 $ 0 $ 0
INVESTMENT INCOME
$ 351,639 $ 37,780 $ 107,700 $ 37,540 $ 37,780
BOND GRANTS AND CONTRIBUTIONS
$ 15,730,643 $ 15,545,000 $ 15,550,125 $ 15,519,900 $ 15,508,400
PRACTICE FACILITY CONTRIBUTION
$ 0 $ 0 $ 0 $ 0 $ 0
AMORTIZATION OF BOND ISSUE COSTS
$ 0 $ 0 $ 0 $ 0 $ 0
AMORTIZATION OF LEASEHOLD INTEREST
$ (18,567,552) $ (29,384,203) $ (24,240,323) $ (29,974,203) $ (28,777,372)
FORGIVENESS OF DEBT
$ 0 $ 0 $ 0 $ 0 $ 0
INTEREST EXPENSE AND AMORTIZATION OF BOND
$ (3,705,656) $ (3,214,017) $ (3,698,717) $ (2,747,535) $ (2,279,929)
GAIN (LOSS) ON DISPOSAL OF ASSETS
$ 1,881 $ 0 $ 1,000 $ 1,000 $ 1,000
CAPITAL GRANTS AND CONTRIBUTIONS
$ 0 $ 0 $ 0 $ 0 $ 0
TOTAL NON-OPERATING REVENUES (EXPENSES)
$ (4,795,966) $ (17,015,441) $ 1,290,383 $ (17,163,298) $ (15,510,120)
EXCESS REVENUES OVER EXPENSES
$ (7,298,485) $ (20,096,292) $ (1,062,961) $ (21,057,764) $ (18,856,384)
FY
2020
COMPLETE FIELD RENOVATION
THE FIELD RENOVATION PROJECT CONSISTED OF VIDEOING AND FLUSHING THE SUBSURFACE DRAINAGE SYSTEM TO ASSURE IT WAS FUNCTIONING PROPERLY, REMOVING THE TOP 9” OF HIGHLY ORGANIC SOILS (300,000 TONS) AND REPLACING WITH (150,000 TONS) OF USGA SAND, FOLLOWED BY THOROUGHLY MIXING TO CREATE A USGA SPECIFIED ROOT ZONE THAT WILL PERCOLATE AT RATE OF 12”/HOUR. IN ADDITION, PRIOR TO SOD INSTALLATION, THE ENTIRE FIELD WAS LASER GRADED TO ESTABLISHED A 1” CROWN IN ORDER TO ENHANCE SURFACE RUN-OFF.
SECURITY UPGRADES
RECONCILIATION TO CASH BASIS TOTAL NET OPERATING REVENUES
$ 11,380,655 $ 16,549,730 $ 10,173,831 $ 11,355,537 $ 15,080,546
LESS: TOTAL OPERATING EXPENSES
$ 13,883,174 $ 19,630,582 $ 12,527,175 $ 15,250,003 $ 18,426,809 $ (2,502,519) $ (3,080,852) $ (2,353,344) $ (3,894,466) $ (3,346,263)
ADD: TOTAL UNRESTRICTED INVESTMENT INCOME
CAPITAL PROJECTS
$ 15,250 $ 3,240 $ 7,700 $ 3,000 $ 3,240 $ (2,487,269) $ (3,077,612) $ (2,345,644) $ (3,891,466) $ (3,343,023)
LESS: DEPRECIATION
$ 304,685 $ 318,000 $ 307,500 $ 304,800 $ 304,800
LESS: NON-CASH PENSION EXPENSE
$ 729,230 $ 0 $ 0 $ 0 $ 0
NET OPERATING (CASH BASIS) DEFICIT
$ (1,453,354) $ (2,759,612) $ (2,038,144) $ (3,586,666) $ (3,038,223)
ADD: FUNDS CARRIED FORWARD *
$ 1,668,532 $ 838,979 $ 838,979 $ 720,455 $ 1,065,791
LESS: EVENT DEVELOPMENT FUND
$ (250,000) $
$
$
$
THESE INCLUDED ADDITIONAL SECURITY CAMERAS FOR BOWL, MAIN GATES, CLUB ENTRANCES, ESCALATORS AND RAMPS. ADDITIONAL SERVERS AND INFRASTRUCTURE FOR THE CCTV NETWORK WERE ADDED TO INCREASE STORAGE AND RELIABILITY ALONG WITH IMPLEMENTING ADDITIONAL CYBER SECURITY MEASURES AND ADDED ADDITIONAL ACCESS CONTROL THROUGHOUT THE STADIUM. A VISITOR MANAGEMENT SYSTEM WAS ALSO ADDED AT EMPLOYEE AND VISITOR ENTRANCES.
$ (34,822) $ (1,920,633) $ (1,199,165) $ (2,866,211) $ (1,972,433)
TOTAL SUBSIDIES/DONATED CAPITAL RECEIVED
$ 1,393,080 $ 0 $ 13,570,598 $ 0 $ 0
LESS: COUNTY CAPITAL FUNDING
$
LESS: BUCS DONATED CAPITAL
$ (292,467) $ 0 $ 0 $ 0 $ 0
OPERATING SUBSIDY (SHOWN AS ZERO FOR BUDGET)
$ 1,100,613 $ 0 $ 1,922,454 $ 0 $ 0
NET GAIN (LOSS)
$ 1,065,791 $ (1,920,633) $ 723,289 $ (2,866,211) $ (1,972,433)
OPERATING SUBSIDY REQUEST
$ 1,100,613 $ 1,920,633 $ 1,922,454 $ 2,866,211 $ 1,972,433
HILLSBOROUGH COUNTY
$ 733,742 $ 1,280,422 $ 1,281,636 $ 1,910,808 $ 1,314,955
CITY OF TAMPA
$ 366,871 $ 640,211 $ 640,818 $ 955,404 $ 657,478
$
$ (11,648,144) $
$
FIELD LIGHTING UPGRADE
REPLACED 720 STADIUM FIELD LIGHTS WITH STATE OF THE ART LED FIXTURES WITH DMX CONTROLS WHICH WILL PROVIDE INTELLIGENT COLOR CHANGING THEATRICAL FUNCTIONALITY. RAYMOND JAMES STADIUM IS THE ONLY NFL STADIUM TO HAVE THIS FULL COLOR CHANGING THEATRICAL CAPABILITY. THE UPGRADED FIELD LIGHTS WILL PROVIDE A 46% REDUCTION IN ELECTRICAL COSTS.
*FY- 2020 OFFSET BY FY-2017 OPERATING SURPLUS, FY-2021 OFFSET BY FY-2018 OPERATING SURPLUS AND FY 2022 OFFSET BY FY-2019 OPERATING SURPLUS.
17
18
PROPOSED CAPITAL PROJECT BUDGET
CAPITAL PROJECTS FY CAPITAL PROJECTS
TAMPA SPORTS AUTHORITY CAPITAL PROJECTS FY 2020 FORECAST AVAILABLE CASH BALANCE
$
FY 2021 PROPOSED
7,217,541 $
FY 2022 PROPOSED
1,564,429 $
128,672
ADD: INTEREST INCOME/REVENUE
2021 DESCRIPTION
FY 2021
ARCHITECTURAL PANELS AND PRECAST CONCRETE CAULKING
REPAIRS TO PORTIONS OF VERTICAL AND HORIZONTAL JOINT CAULKING AT PRECAST ARCHITECTURAL PANELS, PRECAST CONCRETE PANELS, CONTROL JOINTS AND EXPANSION JOINTS EACH YEAR AS REQUIRED.
$
43,851
BUILDING EXPANSION JOINTS
REPAIRS TO BUILDING CONCOURSE EXPANSION JOINTS, HORIZONTAL ENDZONE EXPANSION JOINTS, AND BOWL PRECAST CONSTRUCTION JOINTS.
$
12,000
COMPUTERS
REPLACEMENT AND/OR PURCHASE OF OFFICE BASED COMPUTERS, PRINTERS, SERVERS, AND SUPPORT PERIPHERALS PLUS SOFTWARE UPGRADES AND LICENSES INCLUDING VENDOR LABOR TO INSTALL.
$
67,000
CONCRETE FLATWORK REPAIR
REPAIR CONCRETE SLAB ON GRADE AT SERVICE LEVEL AT EXPANSION JOINTS AND OTHER DAMAGED AREAS INCLUDING CONCRETE SIDEWALKS AROUND STADIUM PERIMETER.
$
30,000
FIELD STAIR REPAIR
REPAIR FIELD STAIRS ON AS NEEDED BASIS.
$
10,000
MAINTENANCE EQUIPMENT
YEARLY PURCHASE AS REQUIRED OF MAINTENANCE AND FIELD EQUIPMENT.
$
67,000
MASONRY
INSPECT AND REPAIR PRECAST MASONRY UNIT WALLS.
$
20,000
OVERHEAD COILING DOORS
REPAIR DOORS AT DOCKS AND ON SERVICE LEVEL EACH YEAR AS REQUIRED.
$
17,000
RETRACTABLE BOWL SEATS IN SOUTH ENDZONE
PERFORM RUST REMEDIATION ON DECKING, SUPPORTS AND TRACKS, PAINT AS NEEDED.
$
40,000
SECURITY ENHANCEMENTS
VARIOUS SECURITY UPGRADES EACH YEAR AS REQUIRED.
$
250,000
STADIUM RAILS
REPLACE GLASS RAIL SYSTEM ON STAIR RAILS AND LANDINGS IN SEATING BOWL, REFINISH HANDRAILS.
$
592,000
STADIUM SEATING (PHASE 2)
ADDRESS FADED FRONT EDGES ON RED SEAT BOTTOMS.
$
29,000
STRUCTURAL PRECAST AND ESCALATOR STEEL INSPECTION (PHASE 2)
PERFORM RECOMMENDED REPAIRS PER 2017 WALTER P MOORE ENGINEERS REPORT: REPAIR SPALLS, CRACKS, REPAIR GROUT AND INSPECT ESCALATOR STRUCTURAL SUPPORT / REPLACE FLASHING AS NEEDED PER SCHINDLER ELEVATOR REPORT.
$
133,000
COMMUNITY INVESTMENT TAX
$
750,000 $
750,000 $
750,000
BOND PROCEEDS
$
0 $
0 $
0
STADIUM FUNDS PROCEEDS
$
0 $
0 $
0
COUNTY SUBSIDY
$
11,648,144 $
0 $
0
LEHMAN BROTHERS, INC. BANKRUPTCY CLAIM PAYMENT
$
0 $
0 $
0
SUBTOTAL: FUNDS AVAILABLE FOR CAPITAL PROJECTS
$
19,615,685 $
2,314,429 $
878,672
LESS: COMPLETED AND PROJECTED PROJECTS
$
(3,717,281) $
(2,185,757) $
(1,492,526)
LESS: BUCCANEERS PROJECTS
$
(14,333,975) $
0 $
0
VIDEOBOARDS
VIDEOBOARD CONTROL ROOM EQUIPMENT REPLACEMENT PER DAKTRONICS AGREEMENT.
$
25,906
SUBTOTAL: FUNDS REMAINING
$
1,564,429 $
128,672 $
0
EAST CLUB WINDOW REFURBISHMENT
REGLAZE WINDOW SEALS AND REPLACE 3 GLASS PANELS ON THE EAST CLUB WINDOWS
$
30,000
$
(613,854)
ACCESS CONTROL
UPGRADE CARD ACCESS CONTROL SYSTEM (C-CURE) TO CURRENT TECHNOLOGY. COMPLETE ACCESS CONTROL TO TELCOM CLOSETS, OFFICES AND WAREHOUSE.
$
75,000
128,672 $
0
CCTV SYSTEM
UPGRADE CCTV SYSTEM (VICTOR) TO CURRENT TECHNOLOGY, UPGRADE CCTV FIBER INFRASTRUCTURE AND SWITCHES, UPGRADE VARIOUS EXISTING CAMERAS.
$
80,000
FIRE SPRINKLER SYSTEM
REBUILD FIRE PUMP MOTOR, PUMP AND CONTROL CABINET.
$
30,000
INTERIOR AND EXTERIOR LIGHTING FIXTURES
UPGRADE EAST AND WEST UPPER CONCOURSE UP LIGHTS, LOCKER ROOMS, SERVICE HALLWAYS AND MISC LIGHTS (ROOMS/ AREAS) THROUGHOUT THE FACILITY.
$
40,000
PIPE HANGERS
REPLACE EXPOSED CORRODED PIPE HANGERS AND SUPPORTS.
$
10,000
HVAC UPGRADES
REPLACE AHU #1SE1, VAV #1SE1, UPGRADE AND REPLACE MISC EQUIPMENT AND BMS CONTROLS THROUGHOUT THE FACILITY AS NEEDED.
$
146,000
CHILLED WATER PUMPING SYSTEM
REPAIR AND REFURBISH PIPING AND PIPING JOINTS. UPGRADE SECONDARY PUMP VSD'S.
$
15,000
INSULATION
REPAIR AND REPLACE EACH YEAR AS REQUIRED.
$
19,000
DOMESTIC HOT WATER
REPLACEMENT OF VARIOUS HOT WATER HEATERS WITHIN THE FACILITY.
$
13,000
ADD: REQUESTED SUBSIDY FOR CAPITAL BUCCANEERS PROJECTS TOTAL FUNDS REMAINING AS OF FISCAL YEAR END
$
1,564,429 $
MAIN HW BOILERS
REFURBISH EXISTING MAIN HOT WATER BOILER TANKS IN QUADS "B" AND "D".
$
122,000
TREE REPLACEMENT/ LANDSCAPE
REPLACEMENT OF DISEASED OR STRESSED PALM AND OAK TREES AS REQUIRED
$
24,000
CONTINGENCY PROJECTS
UNFORESEEN PROJECTS
$
245,000
$
2,185,757
TOTAL TSA CAPITAL PROJECTS
19
20
PROPOSED CAPITAL PROJECTS FY
CAPITAL PROJECTS
2022
DESCRIPTION
FY 2022
ARCHITECTURAL PANELS AND PRECAST CONCRETE CAULKING
REPAIRS TO PORTIONS OF VERTICAL AND HORIZONTAL JOINT CAULKING AT PRECAST ARCHITECTURAL PANELS, PRECAST CONCRETE PANELS, CONTROL JOINTS AND EXPANSION JOINTS EACH YEAR AS REQUIRED.
$
45,684
BUILDING EXPANSION JOINTS
REPAIRS TO BUILDING CONCOURSE EXPANSION JOINTS, HORIZONTAL ENDZONE EXPANSION JOINTS, AND BOWL PRECAST CONSTRUCTION JOINTS.
$
12,000
COMPUTERS
REPLACEMENT AND/OR PURCHASE OF OFFICE BASED COMPUTERS, PRINTERS, SERVERS, AND SUPPORT PERIPHERALS PLUS SOFTWARE UPGRADES AND LICENSES INCLUDING VENDOR LABOR TO INSTALL.
$
70,000
CONCOURSE RESTROOM FLOORS
REPAINT ENDZONE, UPPER AND LOWER RESTROOM CONCOURSE FLOORS.
$
70,000
CONCRETE SEALING
APPLY CONCRETE WATER REPELLANT TO BOWL
$
125,000
MAINTENANCE EQUIPMENT
YEARLY PURCHASE AS REQUIRED OF MAINTENANCE AND FIELD EQUIPMENT.
$
68,000
MASONRY
INSPECT AND REPAIR PRECAST MASONRY UNIT WALLS.
$
25,000
OVERHEAD COILING DOORS
REPAIR DOORS AT DOCKS AND ON SERVICE LEVEL EACH YEAR AS REQUIRED.
$
17,000
SECURITY ENHANCEMENTS
VARIOUS SECURITY UPGRADES EACH YEAR AS REQUIRED.
$
100,000
STADIUM SEATING (PHASE 2)
ADDRESS FADED FRONT EDGES ON RED SEAT BOTTOMS.
$
30,000
VIDEOBOARDS
VIDEOBOARD CONTROL ROOM EQUIPMENT REPLACEMENT PER DAKTRONICS AGREEMENT.
$
25,906
INTERIOR AND EXTERIOR LIGHTING FIXTURES
MISC ROOMS THROUGHOUT THE FACILITY.
$
44,000
HVAC UPGRADES
REPLACE MISC EQUIPMENT AND BMS CONTROLS THROUGHOUT THE FACILITY
$
63,000
INSULATION
REPAIR AND REPLACE EACH YEAR AS REQUIRED.
$
19,000
PAVING (NORTH PARKING DRIVE LANES)
REPAVE ALL DRIVE LANES IN THE NORTH PARKING LOTS.
$
210,000
PAVING (SOUTH PARKING DRIVE LANES)
REPAVE ALL DRIVE LANES IN THE SOUTH PARKING LOTS.
$
283,000
TREE REPLACEMENT/ LANDSCAPE
REPLACEMENT OF DISEASED OR STRESSED PALM AND OAK TREES AS REQUIRED
$
39,936
CONTINGENCY PROJECTS
UNFORESEEN PROJECTS
$
245,000
$
1,492,526
TOTAL TSA CAPITAL PROJECTS
21
PROJECTED CAPITAL COSTS OVERVIEW PROJECTED CAPITAL COSTS OVERVIEW THROUGH 2028 2020-2024
2025-2028
TOTAL
PROJECTED CAPITAL COSTS
$
(23,739,280)
$
(3,735,807)
COMMUNITY INVESTMENT TAX
$
2,750,000
$
0
$
2,750,000
STADIUM FUNDS PROCEEDS
$
0
$
0
$
-0
COUNTY SUBSIDY
$
11,648,144
LEHMAN BROTHERS BANKRUPTCY CLAIM PAYMENT
$
0
$
0
$
0
INTEREST
$
0
$
0
$
0
FUNDS CARRIED FORWARD
$
7,217,541
$
0
$
7,217,541
TOTAL UNFUNDED
$(2,123,595)
$ (27,475,087)
BOND PROCEEDS
$(3,735,807)
$(5,859,402)
22
HILLSBOROUGH COUNTY COMMUNITY INVESTMENT TAX COMMUNITY INVESTMENT TAX (CIT) DISTRIBUTION SCHEDULE (FY-2019)
DEBT SERVICE REQUIREMENTS LONG-TERM DEBT: DEBT SERVICE PAYMENTS FOR FY-2021
PUBLIC SAFETY, ROADS, INFRASTRUCTURE NEEDS % OF TOTAL HILLSBOROUGH COUNTY BOCC
$
65,842,361
CITY OF TAMPA
$
19,894,364
CITY OF PLANT CITY
$
2,045,182
CITY OF TEMPLE TERRACE
$
1,410,489
SUBTOTAL
$
89,192,395
68%
HILLSBOROUGH COUNTY SCHOOLS
$
32,957,908
25%
RAYMOND JAMES STADIUM
$
9,681,326
7%
SUBTOTAL
$
42,639,234
TOTAL CIT DISTRIBUTIONS $
131,831,629
$
446,395
$
540,000
$
986,395
$
446,395
$
540,000
$
986,395
$28,790,000 SPECIAL PURPOSE BONDS, STATE OF FLORIDA SALES TAX PAYMENT, SERIES 1995
$
513,179
$
1,480,000
$
1,993,179
$10,300,000 SPECIAL PURPOSE BONDS, CITY OF TAMPA GUARANTEED PARKING REVENUE, SERIES 1995
$
232,958
$
510,000
$
742,958
$2,815,000 SPECIAL PURPOSE BONDS, CITY OF TAMPA SURCHARGE LOAN REVENUE, SERIES 1995
$
98,446
$
150,000
$
248,446
$
844,582
$
2,140,000
$
2,984,582
$63,020,000 LOCAL OPTION SALES TAX REFUNDING REVENUE BONDS, SERIES 2015
$
2,295,900
$
6,470,000
$
8,765,900
$19,240,000 FLORIDA SALES TAX PAYMENTS REFUNDING REVENUE BONDS, SERIES 2015
$
382,000
$
1,605,000 $
1,987,000
$
2,677,900
$
8,075,000
$
10,752,899
3,968,876 $
10,755,000
$
14,723,875
SUBTOTAL
AMALIE ARENA
100%
SUBTOTAL
RAYMOND JAMES STADIUM
SUBTOTAL
HILLSBOROUGH COUNTY SCHOOLS
TOTAL DEBT SERVICE $ PAYMENTS FY-2021 SAFETY AND ROADS
ANNUAL DEBT PAYMENT
STEINBRENNER FIELD $13,590,000 FLORIDA STATE SALES TAX PAYMENTS REVENUE BONDS, SERIES 2017
OTHER FUNDING RECIPIENTS
RAYMOND JAMES STADIUM
PRINCIPAL PAYMENTS
INTEREST
RAYMOND JAMES STADIUM SAFETY AND ROADS HILLSBOROUGH COUNTY SCHOOLS
23
24