A MESSAGE FROM THE PRESIDENT/CEO THE AUTHORITY CONTINUES TO MODIFY ITS ORGANIZATIONAL STRUCTURE AND MAKE MODIFICATIONS ERIC D. HART, CVE IN OPERATING AND EVENT STAFFING POLICIES WHICH ARE DESIGNED TO REDUCE COSTS, IMPROVE PRESIDENT/CEO EFFICIENCY AND BETTER MEET THE NEEDS OF THE COMMUNITY AND AUTHORITY CLIENTS AND TENANTS. AUTHORITY MANAGEMENT HAS CONTINUED TO STRIVE TO ATTRACT NEW EVENTS TO BE HELD AT RAYMOND JAMES STADIUM AND PRIOR TO THE PANDEMIC, WE WERE EXPERIENCING ONE OF THE I AM PLEASED TO PRESENT THE RECOMMENDED OPERATING HIGHEST REVENUE PRODUCING YEARS IN OUR HISTORY. IN THE COMING MONTHS, THE MANAGEMENT AND CAPITAL BUDGET FOR THE FISCAL YEAR 2021-22. TEAM WILL BE TASKED WITH FINDING NEW AND CREATIVE WAYS TO OPERATE THE STADIUM AND THIS BUDGET WAS DEVELOPED BY STAFF AND INCLUDED INCORPORATE ADDITIONAL PRIVATE SECTOR PRACTICES INTO OUR OPERATIONS. AS AN ILLUSTRATION OF A REVIEW BY THE HILLSBOROUGH COUNTY AND CITY OF THE RESULTS OF THESE EFFORTS, RAYMOND JAMES STADIUM WILL HOST SUPER BOWL LV IN 2021 AND TAMPA FINANCE STAFFS, ALONG WITH THE AUTHORITY’S HAS RESCHEDULED MANY OF THE POSTPONED EVENTS FROM 2021. FINANCE COMMITTEE. THIS BUDGET REFLECTS THE CONTINUED EMPHASIS ON GUEST AND EMPLOYEE SAFETY, ALONG CAPITAL REPAIRS TO THE VENUE. RESPECTFULLY, THE COVID-19 PANDEMIC HAS HAD A SIGNIFICANT IMPACT THROUGHOUT AUTHORITY OPERATIONS. THE PANDEMIC CAUSED A COMPLETE LOSS OF REVENUES FOR A 90- DAY PERIOD DURING MID-MARCH THROUGH MID-JUNE. THE SUSPENSION OF EVENT OPERATIONS CAUSED THE CANCELLATION OF THE XFL, WRESTLEMANIA 36, A GUNS N’ ROSES CONCERT AND THE POSTPONEMENT OF THE KENNY CHESNEY AND ROLLING STONES CONCERTS, WHICH HAD A SIGNIFICANT IMPACT FOR OUR OPERATING BUDGET AND TOURISM RELATED REVENUES FOR THE COMMUNITY. THE AUTHORITY TOOK IMMEDIATE STEPS TO REDUCE OPERATING COSTS AND PROVIDE A SAFE ENVIRONMENT FOR STAFF. THE AUTHORITY STAFF USED THIS CLOSURE PERIOD TO COMPLETE CAPITAL PROJECTS AND PREPARE THE VENUE FOR REOPENING, WITH A GREATER EMPHASIS ON THE SAFETY OF OUR EMPLOYEES AND CUSTOMERS. DURING JULY, HILLSBOROUGH COUNTY PROVIDED CARES ACT FUNDING TO COMPLETE ADDITIONAL SAFETY IMPROVEMENTS TO THE VENUE IN ACCORDANCE WITH CDC GUIDELINES. WHILE RAYMOND JAMES STADIUM HAS STARTED HOSTING EVENTS IN EXTERIOR SPACES, WE HAVE NOT HOSTED A REVENUE PRODUCING EVENT WITHIN THE STADIUM SINCE CLOSURE IN LATE MARCH. WE ANTICIPATE THIS CLOSURE TO CONTINUE UNTIL THE START OF OUR USF FOOTBALL SEASON AND BUCCANEERS SEASON IN MID-SEPTEMBER. WHILE COVID-19 HAS HAD A DRAMATIC IMPACT ON OUR CURRENT REVENUES, THERE ARE SEVERAL BRIGHT SPOTS FOR RAYMOND JAMES STADIUM. THE VENUE CURRENTLY SERVES AS THE LARGEST COVID-19 TESTING SITE IN HILLSBOROUGH COUNTY. ADDITIONALLY, THE AUTHORITY WAS ABLE TO LEVERAGE OUR SUPPLIERS TO PROVIDE SCARCE PERSONAL PROTECTIVE EQUIPMENT TO HILLSBOROUGH COUNTY FOR COMMUNITY FIRST RESPONDERS DURING THE EARLY STAGES OF THE PANDEMIC. ADDITIONALLY, WE HAVE BEEN VERY PLEASED TO SEE A RESURGENCE IN THE INTEREST IN USE OF THE VENUE FOR THE UPCOMING FISCAL YEAR. WE BELIEVE THIS IS A POSITIVE SIGN FOR THE LONG-TERM RECOVERY AFTER THE PANDEMIC. WE ARE PLEASED TO BE A BRIGHT SPOT FOR THE COMMUNITY WHEN IT NEEDED IT MOST. TO PLAN, DEVELOP, PROMOTE AND MAINTAIN A COMPREHENSIVE COMPLEX OF SPORTS AND RECREATION FACILITIES FOR THE USE AND ENJOYMENT OF THE CITIZENS OF TAMPA AND HILLSBOROUGH COUNTY. MISSION STATEMENT TO FACILITATE THE CONSTRUCTION AND OPERATIONS OF TABLE OF CONTENTS NEEDED, USER-FEE SUPPORTED SPORTS AND RECREATIONAL FACILITIES. TO ENCOURAGE AND NOT COMPETE WITH THE OUR PRIVATE SECTOR. “USER-FEE SUPPORTED” DISTINGUISHES US ROLE FROM A PARKS AND RECREATION DEPARTMENT. ADMINISTRATIVE TAMPA SPORTS AUTHORITY BOARD OF DIRECTORS 5-6 TAMPA SPORTS AUTHORITY ORGANIZATIONAL CHART 7 TO PROVIDE ECONOMIC DEVELOPMENT AND ENHANCE THE QUALITY OF LIFE THROUGH EVENTS SPORTS AND RECREATION. VISION YEAR IN REVIEW 8-10 STATEMENT BUDGET REQUEST AND ASSUMPTIONS CONTRIBUTION REQUESTS 11 ABOUT THE AUTHORITY BUDGET REVENUE & EXPENSE ASSUMPTIONS 12 THE TAMPA SPORTS AUTHORITY, A GOVERNMENT ENTITY, IS AN INDEPENDENT SPECIAL DISTRICT CREATED BY THE FLORIDA LEGISLATURE IN 1965 TO CONSTRUCT AND MANAGE SPORTS AND RECREATIONAL FACILITIES IN BUDGET NOTES 13-14 HILLSBOROUGH COUNTY. THE AUTHORITY’S MISSION IS TO PROVIDE ECONOMIC DEVELOPMENT AND ENHANCE THE QUALITY OF LIFE THROUGH SPORTS AND RECREATION. THE AUTHORITY HAS NO TAXING POWER, BUT RATHER ACTS STATEMENT OF REVENUE AND EXPENSES-COMPARATIVE 15-17 AS AN ENTERPRISE FUND UTILIZING USER-FEES TO SUBSIDIZE ITS OPERATING COSTS. AS A RESULT, ALL OF ITS MAJOR CAPITAL CONSTRUCTION PROJECTS FROM THE ORIGINAL TAMPA STADIUM, GOLF COURSES, HILLSBOROUGH CAPITAL PROJECTS COUNTY TOURNAMENT SPORTSPLEX, AMALIE ARENA, GEORGE STEINBRENNER FIELD AND RAYMOND JAMES STADIUM HAVE BEEN ACCOMPLISHED BY WORKING CLOSELY WITH THE APPROVALS AND FINANCIAL SUPPORT OF 2020 CAPITAL PROJECT HIGHLIGHTS 18 HILLSBOROUGH COUNTY AND THE CITY OF TAMPA. PROPOSED CAPITAL PROJECT BUDGET (THROUGH 2022) 19 RAYMOND JAMES STADIUM WAS CONSTRUCTED WITH FUNDS FROM THE COMMUNITY INVESTMENT TAX (CIT). THE CIT IS A 30-YEAR HALF-CENT LOCAL OPTION SALES TAX. THE FIRST 25% OF THE TOTAL PROJECTED CIT COLLECTIONS PROPOSED CAPITAL PROJECTS (FY 2021) 20 GOES TO BUILD NEW SCHOOLS. THE NEXT AMOUNT IS APPLIED TO DEBT PAYMENTS ON THE STADIUM BONDS (APPROXIMATELY 7% OF THE TOTAL) AND THE REMAINING 68% IS DIVIDED BETWEEN THE COUNTY AND THE THREE PROPOSED CAPITAL PROJECTS (FY 2022) 21 CITIES IN HILLSBOROUGH COUNTY FOR ROADS, SIDEWALKS, BUILDINGS AND PUBLIC SAFETY NEEDS. (SEE PAGE 23) PROJECTED CAPITAL COSTS OVERVIEW (THROUGH 2028) 22 MORE THAN 800,000 FANS ENJOYED THE VARIOUS EVENTS AND FUNCTIONS HELD AT RAYMOND JAMES STADIUM THIS PAST YEAR. IN ADDITION TO HOSTING THE BUCCANEERS AND USF FOOTBALL SEASONS, THE AUTHORITY ALSO HOSTED MAJOR EVENTS SUCH AS THE OUTBACK BOWL, TWO MONSTER JAMS, SUPERCROSS, TWO XFL GAMES, A DEBT SERVICE COLUMBIA VS. VENEZUELA MEN’S SOCCER MATCH AND FOR THE SECOND TIME THE BAD BOY MOWERS GASPARILLA HILLSBOROUGH COUNTY COMMUNITY INVESTMENT TAX (CIT) 23 BOWL WAS HELD AT RAYMOND JAMES STADIUM. ALL OF THESE EVENTS WERE MANAGED ALONG WITH MORE THAN 70 BANQUETS, SPECIAL EVENTS, FESTIVALS AND PARKING LOT EVENTS. UNFORTUNATELY, MUCH MORE WAS DEBT SERVICE REQUIREMENTS 24 PLANNED AT RAYMOND JAMES STADIUM FOR THE YEAR, SUCH AS WRESTLEMANIA, THE REMAINDER OF THE XFL SEASON, A KENNY CHESNEY CONCERT, A ROLLING STONES CONCERT, A GUNS N’ ROSES CONCERT, AND SUNSET MUSIC FESTIVAL. THESE EVENTS WERE CANCELLED DUE TO THE COVID-19 PANDEMIC. WE HAVE MADE GREAT PROGRESS IN REBOOKING THESE CANCELLED EVENTS FOR FUTURE DATES. THE NFL PLAYERS ASSOCIATION CONTINUES TO RANK RAYMOND JAMES STADIUM AS ONE OF THE BEST PLAYING FIELDS IN THE NFL. BOARD OF DIRECTORS RANDY LARSON ANDREW SCAGLIONE MARK S. WOODARD DON DEFOSSET HON. ORLANDO GUDES HON. KEN HAGAN CHAIRMAN VICE CHAIRMAN SECRETARY/TREASURER JOHN JAEB VINCENT MARCHETTI TONY MUNIZ LUCIANO PRIDA, JR. THOMAS SCOTT ERIC D. HART, CVE PRESIDENT/CEO 5 6 ORGANIZATIONAL CHART YEAR IN REVIEW TAMPA BAY BUCCANEERS BOARD OF DIRECTORS THE 2020 SEASON IS THE TAMPA BAY BUCCANEERS’ 45TH IN THE NATIONAL FOOTBALL LEAGUE AND THEIR SECOND UNDER HEAD COACH BRUCE ARIANS. THEY WILL ATTEMPT TO IMPROVE PRESIDENT/CEO UPON THEIR 7–9 RECORD FROM ERIC HART THE PREVIOUS SEASON AND MAKE THE PLAYOFFS FOR THE FIRST TIME SINCE 2007. THE DEFENSE IMPROVED DRASTICALLY IN COACH ARIAN’S FIRST YEAR. VP/FINANCE & SR VP/STADIUM VP/MARKETING & ON MARCH 20, 2020, THE TEAM ADMINISTRATION OPERATIONS COMMUNICATIONS AGREED TO TERMS WITH FORMER NEW DAVID BYRNE MICKEY FARRELL BOBBY SILVEST ENGLAND PATRIOTS QUARTERBACK TOM BRADY. THE BUCCANEERS ALSO TRADED FOR BRADY’S FORMER PATRIOTS TEAMMATE, TIGHT END HUMAN RESOURCES EVENT OPERATIONS MARKETING ROB GRONKOWSKI. THIS COMBINED WITH OFFENSIVE WEAPONS LIKE MIKE EVANS AND CHRIS GODWIN HAVE BUCS FANS VERY OPTIMISTIC FOR A GREAT SEASON. FINANCIAL PLANNING MERCHANDISE SALES MEDIA THE TEAM UNVEILED NEW UNIFORMS ON APRIL 7, 2020, THEIR FIRST UNIFORM CHANGE SINCE 2014. THE NEW UNIFORMS ARE SIMILAR IN RISK MANAGEMENT CAPITAL PROJECTS COMMUNICATIONS DESIGN TO THE ONES THEY WORE FROM 1997 TO 2013. PAYROLL/AP/R FACILITIES MANAGEMENT GRAPHIC DESIGN USF FOOTBALL THE UNIVERSITY OF SOUTH FLORIDA BOND OVERSIGHT AND FOOD & BEVERAGE SOCIAL MEDIA MANAGEMENT BULLS STRUGGLED IN COACH CHARLIE STRONG’S THIRD YEAR, FINISHING WITH A RECORD OF 4–8 (2–6 IN THE AMERICAN). ON DECEMBER 1ST, 2019, STRONG PURCHASING HOUSEKEEPING WEBSITE/MAINTENANCE WAS FIRED TWO DAYS AFTER A 34–7 LOSS TO UCF, WHICH MARKED THE THIRD STRAIGHT LOSS TO THEIR IN-STATE RIVAL. BUDGETING COORDINATION ON DECEMBER 9, 2019, USF ANNOUNCED THAT JEFF SCOTT WOULD BE THE PROGRAM’S FIFTH HEAD COACH. SCOTT WAS PREVIOUSLY THE CO-OFFENSIVE CASH HANDLING COORDINATOR AT CLEMSON, WHERE HE WON TWO NATIONAL CHAMPIONSHIPS (2016 & 2018). THIS ADDITION ALONG WITH SOME TAMPA SPORTS AUTHORITY: EXECUTIVE TEAM (PICTURED RIGHT) KEY COACHING HIRES MAKES BULLS NATION VERY OPTIMISTIC (L-R) MICKEY FARRELL (SR. VP OF STADIUM OPERATIONS), BOBBY SILVEST FOR THE 2020 SEASON. (VP OF MARKETING & COMMUNICATIONS), ERIC HART (PRESIDENT/CEO), DAVID BYRNE (VP OF FINANCE/ADMINISTRATION), REBECCA SKYLES (EXECUTIVE ASSISTANT TO CEO), KENNIE SIMS (VP OF GOLF OPERATIONS) 7 8 YEAR IN REVIEW YEAR IN REVIEW OUTBACK BOWL MONSTER JAM THE 2020 OUTBACK BOWL FEATURED FELD ENTERTAINMENT CONTINUES THE AUBURN TIGERS OF THE TO DELIVER OUTSTANDING EVENTS SOUTHEASTERN CONFERENCE AND WITH TWO MONSTER JAMS EACH THE MINNESOTA GOPHERS OF THE SEASON, WHICH ATTRACTED BIG TEN CONFERENCE, WITH 40,000 ALMOST 80,000 FANS. FANS IN ATTENDANCE. THIS REGULAR EVENT AT RAYMOND THIS WAS MINNESOTA’S FIRST TIME JAMES STADIUM CONTINUES TO BE PLAYING IN THE OUTBACK BOWL, VERY POPULAR AND BRINGS SOME AND THEY CAME AWAY WITH A OF THE LARGEST CROWDS OF THE VICTORY, DEFEATING AUBURN 31-24. YEAR. GASPARILLA BOWL SUPERCROSS THE MONSTER ENERGY AMA SUPERCROSS CHAMPIONSHIP THE 2019 BAD BOY MOWER’S RETURNED TO RAYMOND JAMES GASPARILLA BOWL WAS HOSTED AT STADIUM IN 2020. RAYMOND JAMES STADIUM FOR THE SECOND TIME.