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County Attorney's Report 10. 6.

BCC Regular Meeting

Action

Meeting Date:	11/05/2020
Issue: Resolution Amending and Restating Resolution R2018-123
From:	KRISTIN HUAL
Department:	County Attorney's Office
CAO Approval:

RECOMMENDATION:

Recommendation Concerning a Resolution Amending and Restating Resolution R2018-123 Identifying LOST Economic Development Trust Fund and Projects to be Funded from the Trust Fund.

That the Board take the following action concerning the Resolution amending and restating Resolution R2018-123:

A. Adopt the Resolution; and

B. Authorize the Chairman to sign the Resolution.

BACKGROUND:

On November 5, 2015, the Board previously adopted Resolution R2015-149 designating: 1) the NOLF-X development; and 2) the Navy Federal Credit Union economic development incentive fund grant as projects that may be funded from the LOST Economic Development Trust Fund in an amount of up to thirteen (13) million dollars to be deposited into the LOST Economic Development Trust Fund on or before December 31, 2017.

On February 16, 2017, the Board adopted Resolution R2017-27 to amend Section 4 of the Resolution in order to reduce the designated funding amount to eight (8) million dollars of LOST funds that may be deposited in the LOST Economic Development Trust Fund on or before December 31, 2017, and designate up to $500,000.00 that may be deposited in the LOST Economic Development Trust Fund on an annual basis for ten (10) years thereafter in order to fund the designated projects.

On October 18, 2018, the Board adopted Resolution R2018-123 repealing and replacing Resolution R2015-149, as amended by Resolution R2017-27, to designate additional economic development projects that may be funded from the LOST Economic Development Trust Fund during the County Fiscal Year (FY) 18/19. In addition to Projects 1 - 2, the Board designated Projects a) - f) in the following funding amounts:
a) Town of Century Economic Development Initiative - $50,000;
b) Gulf Coast Minority Chamber of Commerce, Inc. - $60,000;
c) Pensacola-Escambia County Promotion and Development Commission - $550,000;
d) Junior Achievement of Northwest Florida, Inc. - $20,000;
e) Escambia County School Readiness Coalition, Inc. d/b/a Early Learning Coalition of Escambia County - $238,875; and
f) Escambia County Summer Employment Program - $200,000.

The proposed Resolution will amend Resolution R2018-123 to designate the Center for Independent Living of Northwest Florida, Inc. as an additional economic development project that may be funded from the LOST Economic Development Trust Fund. The proposed Resolution will further amend Resolution R2018-123 to eliminate the designated project funding amounts for Projects A - G with the amount(s) to be determined annually by the Board of County Commissioners; provided that the total amount of LOST funds deposited in the LOST Economic Development Trust Fund on an annual basis does not exceed 15% of the surtax proceeds in accordance with §212.055(2)(d)3., Florida Statutes.

BUDGETARY IMPACT:

N/A

LEGAL CONSIDERATIONS/SIGN-OFF:

The Resolution was prepared by Senior Assistant County Attorney, Kristin D. Hual.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

N/A

Attachments
Resolution