Subject:
Title
Approval, Re: Funding Recommendations for FY 2022-2023 TDC Capital Facilities Grants and East Coast Zoological Society Aquarium Groundbreaking Deadline Extension
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Fiscal Impact:
FY2022-2023: $375,000.00 for the Valiant Air Command, Capital Facilities Fund #1443/293200. Beginning in FY2024-2025: $1,500,000.00 a year for ten (10) years for the Aquarium grant, Capital Facilities Fund #1443/293200.
Dept/Office:
Tourism Development Office
Requested Action:
It is requested that the Board of County Commissioners approve funding the following FY 2022-2023 Capital Facilities Grant applications and extend the ground-breaking deadline for the East Coast Zoological Society Aquarium project:
1. East Coast Zoological Society Aquarium at Port Canaveral - $15,000,000.00 over ten (10) years ($1.5M a year) beginning in FY 24-25 and extend the construction groundbreaking deadline to September 29, 2024
2. Valiant Air Command Museum Expansion and Event Center - $375,000.00
Further, based on the facts specified for each grant, by approving this agenda item, the Board will make the legislative finding that Tourist Development Tax funds are authorized for capital grants pursuant to Section 125.0104(5)(a)3., Florida Statutes, and Section 102-119(3)a, (5)a, and (6)a. of the Brevard County Code of Ordinances Each of the tourist oriented capital grants have as one of its main purposes the attraction of tourists, and the entity and the Space Coast Office of Tourism both intend to ensure marketing and promotion of these facilities to Tourists.
Additionally, request authority for the Director, Tourism Development Office, to negotiate and sign all necessary agreements and related documents upon County Attorney's Office, Risk Management and Central Services approval and authorized the County Manager to execute necessary budget change requests.
Recommendation
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Summary Explanation and Background:
Tourist Development Tax Revenues are restricted to only authorized us...
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