20260416 Joint City/County Meeting Detail Agenda

Board of County Commissioners and City of Pensacola Joint Meeting · 2026-04-16 · agenda_packet

Presentation on the Pensacola Bay Center for the Future by Legends Global, analyzing the feasibility of a new multipurpose Event Center and Practice Ice Rink. The project involves significant upgrades to the existing Pensacola Bay Center, construction of a new 55,500 sq ft Event Center (105,000 sq ft gross footprint on 2.4 acres), and a new Practice Ice Rink. Estimated project costs are $114.1 million. The presentation details market demand, demographic data, projected economic impacts, and operational projections for the proposed facilities. The agenda item was a presentation, not a decision on the project itself. [Site: 6.86 acres adjacent to Pensacola Bay Center.] Analysis by WT Partnership regarding the redevelopment of the Pensacola Convention Center. The analysis evaluates redevelopment options, delivery approaches, and potential impacts on surrounding areas including the Grand Hotel, Bay Center, and Technology Park parcels. Key priorities include improving safety, mobility, preserving historic character, supporting job creation, and identifying funding opportunities. The analysis is intended to inform direction and next steps, not to approve a final project. The document discusses market performance in retail, hospitality, multifamily, and office sectors, and assesses the viability of a convention center based on demographics, accessibility, corporate presence, hotel supply, and tourism drivers. It proposes a new convention center with 150,000 sq ft of space and a 1,300-space parking garage. Several development scenarios and pathways are presented, including traditional design-bid-build, hybrid delivery, and Public-Private Partnerships (P3). The meeting item was an analysis presentation. This document outlines three development options for a convention center, an indoor sports complex, and an ice rink, evaluating them based on economic benefit, market demand, and stakeholder input. The primary focus is on a convention center, with scenarios ranging from traditional delivery to Public-Private Partnerships (P3) and Transit-Oriented Development (TOD). Scenario 4, P3 DBFOM + TOD, is presented as the highest potential for long-term resilience and economic impact, leveraging federal financing tools like TIFIA and RRIF for transit-integrated, mixed-use development. The document details the public role shifting from owner-operator to sponsor and risk manager as scenarios become more complex. Next steps include confirming project objectives, determining site control and zoning, refining the project vision, structuring transactions, and conducting market sounding. Precedent projects in various cities illustrate different delivery structures and financing approaches, with a strong emphasis on TOD as a framework to unlock federal funding and financing for multimodal access and integrated development.