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County Attorney's Report 9. 1.

BCC Regular Meeting

Action

Meeting Date:	10/18/2018
Issue: Resolution Repealing and Replacing Resolution R2015-149, as Amended by R2017-27
From:	Kristin Hual
Department:	County Attorney's Office
CAO Approval:

RECOMMENDATION:

Recommendation Concerning a Resolution Repealing and Replacing Resolution R2015-149, as Amended by R2017-27 Identifying Economic Development Projects to be Funded From the LOST Economic Development Trust Fund.

That the Board take the following action concerning the Resolution repealing and replacing Resolution R2015-149, as amended by R2017-27:

A. Adopt the Resolution repealing and replacing R2015-149, as amended by R2017-27; and

B. Authorize the Chairman to sign the Resolution.

BACKGROUND:

On November 5, 2015, the Board previously adopted Resolution R2015-149 designating the NOLF-X development and 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 Trust Fund by December 31, 2017.

Thereafter, on February 22, 2017, the Board adopted Resolution R2017-27 amending R2015-149 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 by December 31, 2017, and to 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.

The proposed Resolution will repeal and replace the prior Resolution, as amended, to maintain the previously designated projects and LOST funding amounts and designate the following additional economic development projects that may be funded from the LOST Economic Development Trust Fund during the County's Fiscal Year (FY) 18/19:

a) Town of Century Economic Development Initiative --- $50,000.00;
b) Gulf Coast Minority Chamber of Commerce, Inc. --- $60,000.00;
c) Pensacola-Escambia County Promotion and Development Commission --- $550,000.00;
d) Junior Achievement of Northwest Florida, Inc. --- $20,000.00;
e) Escambia County School Readiness Coalition, Inc. d/b/a Early Learning Coalition of Escambia County --- $238,875.00; and
f) Escambia County Summer Employment Program --- $200,000.00.

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