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County Administrator's Report   11. 15.
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BCC Regular Meeting |
Budget & Finance Consent   |
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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
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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 |
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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. |
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