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Board reallocates tourist‑development tax to shore up stadium fund, approves Option B
Summary
Sarasota commissioners unanimously approved Option B to reallocate portions of the Tourist Development Tax to the Sports Stadium Fund, adding flexibility to cover debt service and future capital repair needs for spring‑training stadiums and the planned indoor sports arena.
The Sarasota County Board voted unanimously to direct staff to pursue Option B for reallocating Tourist Development Tax (TDT) revenues to address projected deficits in the Sports Stadium Fund. The plan moves 25% of the third penny from promotion to sports stadium (about $1.88M in FY26 estimates) and adds a modest, flexible share (about $377,000 potential) from the fourth penny range so the county can dedicate funds to future capital repair/replacement including the indoor sports complex at Nathan Benderson Park.
Office of Financial Management staff explained the reallocation would largely eliminate projected shortfalls in the stadium fund through the planning horizon, while preserving roughly $5.3–$5.7M annually for promotion activities and the Visit Sarasota contract (currently funded at ~ $5M). Commissioners supporting Option B noted the need to protect capital maintenance budgets so facilities remain competitive for sporting events while also preserving promotion and marketing capacity that drives tourism dollars.
The board authorized a public hearing to adopt the TDT allocation ordinance and directed staff to prepare implementation materials. The vote on Option B was unanimous.
