Scott Maxwell of the Orlando Sentinel reports: Negotiations about renovating the TD Waterhouse Centre for the Orlando Magic kicked into gear Wednesday when Orange County Chairman Rich Crotty offered to put up as much as $40 million in public money.

In a memo to county commissioners, Crotty said he also wanted:

The Magic to contribute at least $5 million.

The county to use only tourism taxes to pay for its contribution. No county property taxes would be involved.

The team to promise to cover any shortfalls if tourism-tax revenues fall short of county projections.

There is more including some comments from both sides in this article.