Agenda

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County Administrator's Report 11. 15.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	09/03/2020
Issue: Contract Award for State and Federal Tax Credit Incentives Broker/Consulting
From:	PAUL NOBLES
Department:	Asst County Administrator
CAO Approval:

RECOMMENDATION:

Recommendation Concerning PD 19-20.009, State and Federal Tax Credit Incentives Broker/Consulting - Clara Long, Neighborhood & Human Services Director through Paul Nobles, Manager of Purchasing, Office of Purchasing

That the Board take the following action concerning PD 19-20.009, State and Federal Tax Credits Incentives Broker/Consulting:

A. Approve and authorize the Chairman to execute the Agreement for Broker/Consulting Services (PD 19-20.009) to retain Clocktower Tax Credits, LLC for the purpose of brokering a sale of the County’s Brownfield Voluntary Cleanup Tax Credits; and

B. Approve and authorize the Chairman to execute the Purchase Agreement/Contract to sell to RELX U.S. Holdings, Inc., for the Brownfields Voluntary Tax Credit Certificates.

Vender / Contractor	Funding	Amount	Contract Number
Clocktower Tax Credits LLC.	Fund 129, CDBG Entitlement	$309,726.89 (Will be received by Escambia County)	PD 19-20.009

NON-ADA COMPLIANT DOCUMENTS TO BE DISTRIBUTED UNDER SEPARATE COVER:

Clocktower Submittal
Bid Summary

BACKGROUND:

Environmental Site Cleanup and Remediation at the former Escambia County Mosquito Control Facility, located at 603 West Romana Street, is an ongoing project since 2005, which has been funded through the HUD Community Development Block Grant (CDBG) program. The County is eligible to apply annually for reimbursement of 50% of expenses in the form of tax credits, through the Florida Department of Environmental Protection (FDEP) Voluntary Cleanup Tax Credit(VCTC) Program. Each Tax Credit Certificate is transferrable one time via assignment or sale of the credits within 5 years of issuance. The County currently holds four tax credit certificates totaling $343,377.92 eligible for sale.

BUDGETARY IMPACT:

Vender / Contractor	Funding	Amount	Contract Number
Clocktower Tax Credits LLC.	Fund 129, CDBG Entitlement	$309,726.92 (Will be received by Escambia County)	PD 19-20.009

LEGAL CONSIDERATIONS/SIGN-OFF:

The Purchase Agreement and the Contract/Agreement for Sale has been reviewed and approved by Kristin Hual, Senior Assistant County Attorney.

PERSONNEL:

Neighborhood and Human Services Department staff and the Office of Purchasing will coordinate all tasks.

POLICY/REQUIREMENT FOR BOARD ACTION:

This Recommendation is in compliance with the Code of Ordinances of Escambia County, FL 1999, Chapter 46, Finance, Article II, Purchases and Contracts.

IMPLEMENTATION/COORDINATION:

The Office of Purchasing will issue the Agreements.

Attachments
Agreement.VCTCTaxCrdit
AGREEMENT FOR BROKER/CONSULTING SERVICES (P.D. 19-20.009)
Request for Proposal