GlobeSt.com EXCLUSIVE: Hotelier's New Arena Plan Puts Big Bucks in Magic's Till

ORLANDO-Independent hotelier Harris Rosen will propose a new funding plan this month to local government officials and Orlando Magic executives that would preserve city and county dollars and give the team an additional $217 million in additional concessions, retail and concert revenue on a 15-year, no-rent payment lease with the city.

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.