Agenda

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County Administrator's Report 12. 8.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	01/08/2015
Issue: Amendment to Interlocal Agreement Relating to the Funding of Pensacola-Escambia County Promotion and Development Commission
From:	Stephan Hall
Department:	OMB
CAO Approval:

RECOMMENDATION:

Recommendation Concerning an Amendment to the Interlocal Agreement Relating to the Fiscal Year 2014/2015 Funding of the Pensacola-Escambia County Promotion and Development Commission - Stephan Hall, Management and Budget Services Interim Department Director

That the Board approve and authorize the Chairman to sign the Amendment to the Interlocal Agreement between the Escambia County Board of County Commissioners and the City of Pensacola relating to the Fiscal Year 2014/2015 Funding of the Pensacola-Escambia County Promotion and Development Commission (PEDC), allowing the PEDC to be paid semi-annually in advance.

[Funding: Fund 102, Economic Development Fund, Cost Center 360704]

BACKGROUND:

On October 1, 2014, the parties previously entered into an Interlocal Agreement and the City and the County agreed for Fiscal Year 2014-2015 that the County shall contribute to the PEDC the amount of Five Hundred Fifty Thousand Dollars ($550,000.00) and the City shall contribute to the PEDC the amount of and One Hundred Twenty Thousand Dollars ($120,000.00).

The payments to the PEDC shall be paid semi-annually in advance and the first payment will be made upon execution of this Agreement, and the second payment shall be paid when documentation that the first draw was expended appropriately.

BUDGETARY IMPACT:

Fund 102, Economic Development Fund, Cost Center 360704

LEGAL CONSIDERATIONS/SIGN-OFF:

The County Attorney has reviewed the Amendment.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

Board approval of this Amendment is necessary.

IMPLEMENTATION/COORDINATION:

N/A

Attachments
PEDC Amendment