Orlando Backs $70M Arts Center Bond Issue
August 11, 2009
The Orlando City Commission approved issuing $70 million worth of bonds to finance initial work on the proposed $383 million Dr. P. Phillips Orlando Performing Arts Center in downtown Orlando.
The city said the bond issue will pay for the acquisition, demolition, construction and other initial improvements on the site of the center.
The city said the bond issue would have a maximum interest rate of 7 percent and mature no later than 2037.
The project is expected to break ground in early 2010. Dallas-based general contractor Balfour Beatty has been chosen to lead the pre–construction with local minority–owned businesses such as R.L. Burns Inc., Rey Group Inc. and Forte Young Inc.
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Orlando Business Journal (Florida)