The Dr. Phillips Center is now one step closer to "true" completion, as Orange County's tourism development board unanimously approved new funding from the County.

  • DPC still missing acoustical hall
  • Project was short $45 million
  • Tourism Development Tax Fund to be restructured

It's hard to tell at the moment, but the Dr. Phillips Center for the Performing Arts is a little lopsided. The structure is still missing its acoustical hall, which the project previously could not afford to build.

The budget shortfall was about $45 million. Recently, Orange County Mayor Teresa Jacobs created a proposal to restructure the way the county uses the Tourism Development Tax Fund in order to complete the project.

In Jacobs's proposal, Orange County would take on portions of City of Orlando debt at a fixed interest rate. By doing so, the county and city's current agreement to pay off bonds using the Tourism Development Tax (TDT) would be discontinued.

The change frees millions from the TDT for the county to use towards other projects, like completing DPC's planned Steinmetz Acoustic Hall.

On Friday, the Tourism Development Council agreed to approve the mayor's proposal.

"We are going to be able to move forward, not only with the Performing Arts Center, but with other important projects that have been asking for support." said Jacobs.

Mayor Buddy Dyer was also enthusiastic about this proposal.

"Well, I am supportive of the County taking on the debt," said Dyer.

Mayor Jacob's proposal also addresses creating a sports incentive fund designed to help attract more teams to play in Orlando.

"We need to be more nimble and agile in how we are able to go after sporting events." said Dyer. "The ACC championship is a good example that when an opportunity presents itself we need to have the ability to say 'yeah we can make whatever deal is necessary.'"

The vote now heads to the City of Orlando and Orange County Commissions. Both entities are slated to vote on the proposal in November.

If approved, the Dr. Phillips Center said they can start work on the new hall by 2017. They hope to open the doors in 2020.