Mayor Dyer: State Amendments Slow Cities' Economic Recovery
August 16, 2013 | WMFE - Orlando Mayor Buddy Dyer says as the economy improves, tax-related state constitutional amendments are slowing the recovery of Florida's cities. He says it's among the most important issues municipal leaders are discussing at this week's Florida League of Cities conference in Orlando.
Dyer says the amendments limit the revenue municipalities can collect on residential and commercial properties.
He says even as real estate values approach those of 2008, "we can't come back as quickly. Because let's say it jumps 15 percent in price. We can only capture 3 percent of that in the case of homesteaded properties and 10 percent of that in the case of commercial properties."
Dyer also discussed a new deal with Orange County Mayor Teresa Jacobs, which makes city and county funding available for a new soccer stadium.
"It's a good deal because the owners of the team are putting in between $30 and $40 million, plus $70 million for the franchise fee. So it's a large amount of private money being put in with the public money."
The stadium is part of Central Florida's bid for a major league soccer team.
City and county commissioners will consider the deal in September. Major League Soccer is expected to make a decision by the end of the year on whether Central Florida lands a team.
The deal also includes funding for the new Dr. Phillips Center for the Performing Arts and the Citrus Bowl.
U.S. Sen. Bill Nelson and Gov. Rick Scott also are among the elected leaders attending the Florida League of Cities conference this week.
The conference concludes Saturday.