Subject:
Title
Direction, Re: Tourism Development Council's Recommendation to suspend the Tourism + Indian River Lagoon Grant Program for the Fiscal Year 2023-24 and extend existing Fiscal Year 2022-2023 Indian River Lagoon Grants
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Fiscal Impact:
$1 million in Tourism Development Tax funds are budgeted annually for the Indian River Lagoon Grant Program from the Beach Fund (1442).
Dept/Office:
Tourism Development Office
Requested Action:
Recommendation
It is requested that the Board give direction to staff regarding the Tourist Development Council's recommendation to suspend the Tourism + Indian River Lagoon (IRL) Grant Program funded from the Tourism Development Tax (TDT) for the FY 2023-24 fiscal year due to the expenditures related to repairs necessary due to Hurricanes Ian and Nicole which will exhaust the Beach Fund in the Fiscal Year2022-23, leaving no reserves available.
Secondly, it is requested that the Board grant authorization to Tourism Development Office Director to grant 1 (one) year extensions for 2022-23 grant recipients where funds have already been allocated.
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Summary Explanation and Background:
On February 22, 2023, the Tourist Development Council voted 9-0 to recommend that the Board of County Commissioners suspend the Tourism + IRL grant program for the FY 2023-24 year due to the allocation of the remaining balance of the Beach Funds to pay for expenses related to beach repair after Hurricanes Ian and Nicole. Repairs for the storms will be $22,488,179, which will utilize all Beach Funds and require an additional $6,442,628 to be drawn from ARPA funds, as was approved by the Board on December 6, 2022. Therefore, these repairs will deplete funding in the reserves If another storm event occurs during the 2023 hurricane season that requires repair, the Beach fund will be depleted. This requested action will allow the $1 million IRL Grant funding for FY 2023-24 to be available for emergency repairs.
Staff is requesting 1 (one) year e...
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