Seminole comptroller raises financial concerns over proposed indoor sports complex

Seminole County Comptroller Grant Maloy is questioning the financial feasibility of a proposed indoor sports complex near the county airport, warning that the project's rising costs could create a significant financial burden for taxpayers.In a 16-page report released by his inspector general's office, Maloy outlined several concerns about the proposed Seminole Indoor Sports Complex, which would feature indoor basketball courts and outdoor volleyball courts.

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The facility is also expected to host regional sporting events and tournaments, including wrestling and cheerleading competitions.Maloy said the estimated cost has nearly tripled in three years, increasing from $61 million to $175 million. He also questioned whether the facility would generate enough revenue to cover its long-term expenses.According to the report, the complex is projected to generate approximately $121 million in revenue over 30 years. Using an assumed interest rate of 4.75%, the report estimates the project could