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CONTENTS OF THE CATALOG |
SEARCH/BROWSE THE CATALOG |
SEARCH/BROWSE THE STATE PROJECT COMPLIANCE REQUIREMENTS
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CSFA State Fiscal Year 2011-2012
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CSFA Number:
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73.016
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State Project Title:
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FACILITIES FOR NEW PROFESSIONAL SPORTS, RETAINED PROFESSIONAL SPORTS, OR RETAINED SPRING TRAINING FRANCHISE
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Agency:
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Department of Revenue
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Program:
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73400000 General Tax Administration
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Budget Entity:
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73400500 Remittance Accounting
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Specific Appropriation:
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NA
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Appropriation Category:
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310169 DISTRIBUTION TO PROFESSIONAL SPORTS FRANCHISES AND SPRINGTRAINING FACILITIES
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Related CFDA Code:
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NA
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Authorization:
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Ch. 212.20 & Ch. 288.1162 Florida Statutes
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Objectives:
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Economic development to promote funding for facilities for new or retained professional sports franchise.
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Types Of Assistance:
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Direct Appropriations
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Applicant Type:
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Local Government
Non-Profit
For-Profit
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Restrictions:
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The applicant must have a signed agreement with a new professional sports franchise or retained professional sports franchise for a term of at least 10 years or 20 years, respectively. There must be existing projections and independent studies demonstrating that the new or retained sports franchise will attract a paid attendance of more than 300,000 annually and generate sales tax revenue equal to or greater than $2 million annually.
The applicant must have a signed agreement with a retained spring training franchise for a term of at least 15 years. There must be existing projections and independent studies demonstrating that the facility for retained spring training franchise will attract a paid attendance of at least 50,000.
Funds may not be expended to subsidize privately owned and maintained facilities for use by the spring training franchise.
No more than $416,670 may be distributed monthly in the aggregate to all certified facilities for a retained spring training franchise. No applicant may receive in distributions more than he/she actually expended for the public purposes provided in s. 288.1162(6). No applicant previously certified under any provision of s. 288.1162 shall be eligible for an additional certification.
The Department of Revenue may audit as provided in s. 213.34 to verify that the distributions pursuant to this section have been expended as required in this section.
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Procedures:
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Pre-Application Notice:
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None
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Application Procedures:
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File an application with the Office of Tourism, Trade and Economic Development (OTTED) containing the information required by statute.
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Award Procedures:
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OTTED shall competitively evaluate applications and certify applicants as a facility for a new professional sports franchise or as a facility for a retained spring training franchise and notify the Department of Revenue . Upon certification by OTTED, the department shall distribute monthly $166,667 to facilities for new professional sports franchise or for retained professional sports franchise. The department shall distribute up to $41,667 monthly to facilities for retained spring training franchise. Distributions shall begin 60 days following certification and shall continue for not more than 30 years. OTTED shall certify no more than eight facilities for a retained professional sports franchise and the eighth shall be a francahise of the NBA and located in Florida since 1987 and not previously certified.
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Deadlines:
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Applications must be submitted to OTTED by October 1, 2000, with certifications to be made by January 1, 2001.
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Other: |
Law, rules and forms available at www.myflorida.com/dor/ and http://www.leg.state.fl.us/Statutes/index.cfm
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Information Contact:
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Kim Straubringer
Revenue Program Administrator
Florida Dept of Revenue - General Tax Administration Program
2450 Shumard Oak Blvd. Bldg. 1 - 3654
Tallahassee, FL 32399
Phone Number 850-717-7369
straubik@dor.state.fl.us
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Web Address:
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www.myflorida.com/dor/
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Associated Subjects:
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Economic Initiatives
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