On October 7, 2013, City Council approved a Memorandum of Understanding that outlined the key provisions for a use agreement and a construction agreement for the development of the Orlando Soccer Stadium project.  The use agreement was approved by City Council on February 24, 2014. The attached construction agreement, between the City and Orlando Sports Holdings, LLC, provides the procedures for review and approval of design plans, the acquisition of materials to take advantage of the City’s exemption on the payment of sales taxes, payment mechanism for contractors, scheduling and reporting during construction, project insurance coverage, implementation of the Blueprint, and other customary design and construction provisions. The sales tax savings on this project resulting from the City’s direct purchase of materials is estimated to be approximately $1,000,000..