City council to vote on budget for Magic Entertainment Complex on Monday
The City Council is expected to hold a vote on a project that could change the landscape of the area near Kia Center – the brand-new Magic Entertainment Complex.
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Millions of dollars are on the table for this – and the plan is to bring more people to this side of town especially tourists visiting the theme parks.
“We’re going to city council for final approval at the end of April. And once that final approval comes, then it’s full steam ahead,” said Alex Martins, Magic CEO.
The area that now is just space with overgrown weeds and cracked pavement could very soon look like very different.
The City Council is expected to debate on an agreement to put aside money from property tax revenue to the Magic Entertainment Complex.
The project will be divided in two parts - the city would be putting the money to get it off the ground for the first 4 years, and up to 40 million dollars by 2042.
Read: Orlando Magic seek incentives for downtown development
The City of Orlando is also increasing the amount of money it is offering to build the entertainment spaces included in the plan.
In return, it will be able to throw 10 events per year without paying a rental fee.
The hope is that the complex will bring a lot of business to offset the cost, including big sports events like another NBA All-star weekend.
Read: Development plans are moving forward for Orlando Magic’s Sports and Entertainment District
“They need a lot of different kinds of facilities. It’s not just about the facility that the All-Stars are gonna play,” said Martins. “We’re gonna need to the convention center we’re gonna need other major venues downtown.”
If they vote to approve the money for the complex on Monday, groundbreaking is expected already for later this year.
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