City of Orlando purchase of “The Plaza” venue was a good deal for everyone involved

As much as we like to tag Central Florida government for poorly conceived spending, we’ve got to give them credit on those rare occasions when they do something correctly and make a smart purchase.

One of those occasions was yesterday when the City of Orlando purchased The Plaza venue off of Bumby for $3 million dollars (story HERE).

Given the past performance and future potential of The Plaza that’s a bargain.

First, we’re using Tourism Development Dollars or revenues from local hotel night stays to invest in the purchase. True outside money. Not the faux dollars we’re hearing from Orange County as they try to raise your sales taxes for transportation (story HERE).

Second, this money is going towards the Orlando Philharmonic who will still be utilizing the venue. This is not more taxpayer dollars for the theme park giants that are doing just fine on their own.

And third, just across the street, the Fashion Square Mall is going to eventually be renovated into brand new commercial and residential assets. This is not only great for the venue but for the East Side of Orlando. A true gateway down Colonial drive to an area that needs more exciting opportunities before you get to UCF.

It was a big day for the Orlando City Council yesterday as they also approved a deal to move the relocation of EA Headquarter from Maitland to Orlando (my commentary on that deal HERE). But it was this smaller deal that I really appreciated.

Can’t wait to see what we do with the place.

 

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