Subject:
Title
Approval Re: Acceptance of Donations from the John F Steinwachs and Susan O. Steinwachs Revocable Living Trust Direct Assets to be deposited into Accounts Specifically Designation for Brevard County Public Libraries, Catherine Schweinsberg Rood Public Library.
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Fiscal Impact:
Fiscal Year 2026-2027: The fiscal impact will provide the Catherine Schweinsberg Rood Public Library located at 308 Forest (sic) Avenue, Cocoa Florida 32922 an additional $267,976.21 (approximately).
Dept/Office:
Library Services
Requested Action:
Recommendation
It is requested the Board of County Commissioners:
1. Designate and authorize County staff to accept the donation, and execute any documents necessary, from the John F. Steinwachs and Susan O. Steinwachs Revocable Living Trust.
2. Authorize the County Manager to execute any necessary budget change requests.
3. Authorize the Brevard County Clerk of Courts County Finance Department to open Fidelity Accounts to Receive the In-Kind Fidelity Distributions.
4. Approve and direct County Finance to establish the necessary Fidelity investment accounts in order to receive and immediately liquidate all in-kind transfers from the Estate of John F. Steinwachs, with proceeds paid to the Brevard County Board of County Commissioners for the benefit of the Library Services Department, consistent with the instructions of the estate.
5. Approve the required Resolution as stipulated in the Revocable Living Trust.
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Summary Explanation and Background:
John F. Steinwachs (Mr. Steinwachs) passed away on June 26, 2025. As part of the Trust Mr. Steinwachs named the Branch of the Brevard County, Florida Public Library located at 308 Forest (sic) Avenue, Cocoa, Florida, 32922 (the Catherine Schweinsberg Rood Central Library) as a beneficiary of the Trust. The amount of the gift is approximately $267,976.21.
Approval for County Finance to open three Fidelity investment accounts (Brokerage Account, Inherited IRA, and Inherited Roth) for the purpose of receiving in kind transfers from the Estate of John F. Steinwachs. Upon receipt, all in kind transfers shall be immediately liquidated, the Fidelity accounts closed, and the proceeds paid to the Brevard County Board of County Commissioners for the benefit of the Library Services Department, consistent with the instructions of the estate.
There are no restrictions on these donations, so the funds can be used for facility needs, library and technical equipment, or the acquisition of materials.
Contact: Wendi Bost, Library Services Director, 321-633-1801
Clerk to the Board Instructions:
Please return copy to Wendi Bost, Library Services Department, 308 Forrest Avenue, 2nd Floor, Cocoa, FL 32922.