Taxable, Fixed Rate Bank Loan to fund improvements to the FBC Mortgage Stadium

The UCF Stadium Corporation, a direct support organization and component unit of The University of Central Florida Board of Trustees, is seeking proposals from qualified Financial Institutions to provide a taxable, fixed rate loan up to $70 million to finance a portion of the expansion and improvements to the FBC Mortgage Stadium on the University of Central Florida campus. The proposed project will include new premium seating options, a reimagined club seating experience, an enhanced loge area, and new luxury and bay suites. Proposals are due on August 1, 2024 at 2:00 p.m. Eastern, and the Corporation will select the Financial Institution proposal that provides the best value and meets the financing requirements. Hilltop Securities Inc. will be assisting the Corporation with this transaction. The loan will be secured by a first lien on the Contract Tourist Development Tax Receipts and a subordinate lien on the Pledged Revenues of the Corporation that are currently pledged to the Outstanding Stadium Revenue Bonds. The balance of the funding for the project will come from the issuance of up to $30,000,000 in Taxable Stadium Revenue Bonds, Series 2024 by the Corporation.

This procurement is not designated for any set-aside or disadvantaged enterprises. The Corporation is not providing information on any incumbent vendors or current contractors, and there is no mention of any existing infrastructure or technology that requires integration. The total value of the loan is up to $70 million, and the Corporation is also seeking up to $30 million in Taxable Stadium Revenue Bonds, Series 2024, as part of the overall financing plan.