GlobeSt.com obtained a draft of the proposal from sources close to the hotel developer. But Rosen himself would not comment to GlobeSt.com on its contents until the plan has been approved by the Value Engineering Committee set up by the local hospitality industry, Orange County, the city of Orlando and the Magic.

Magic executives and government officials haven't seen the plan, GlobeSt.com was told by hospitality consultants intimate with its draft.

At issue for the past two months has been the retrofit funding for the 12-year-old, 17,200-seat, 350,000-sf TD Waterhouse Centre Downtown. Magic executives maintain the retrofit will cost $75 million and they are unwilling to commit a set amount for the project until they can cut a new lease with the city. The new Rosen plan suggests the actual construction cost will be no more than $55 million and possibly only $45 million.