David Abrams, SAG Principal, while at a different firm, served as financial advisor to the City of Jacksonville assisting the City in financing improvements to the existing Gator Bowl. The purpose of this financing was to improve the facility to attract an NFL franchise. Ultimately the City was awarded a franchise, and the financial advisor worked closely with the City on the implementation of a lease agreement with the Team. The funding occurred in three series of tax-exempt revenue bonds totaling $112 million issued in 1994,1995 and 1997 and secured by of hotel occupancy taxes, sales taxes, and utility franchise fees.
The 67,400 seat stadium opened in 1995.
Project Components: Improvements to 67,240 seat NFL stadium
Project Value: $112 million