Subject:
Title
Approval for the Florida Local Government Finance Commission to Issue Private Activity Bonds for East Coast Zoological Society of Florida, Inc.
End
Fiscal Impact:
There is no obligation or liability to the County for the requested action.
Dept/Office:
County Manager/Central Services
Requested Action:
Recommendation
It is requested that the Board of County Commissioners adopt a Resolution evidencing the County’s written approval to issue conduit revenue bonds issued by the Florida Local Government Finance Commission on behalf of the East Coast Zoological Society of Florida, Inc. for the financing the East Coast Zoological Society Aquarium also known as the Bowen Aquarium.
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Summary Explanation and Background:
The Board of County Commissioners (the Board) approved the First Amendment to the Interlocal Agreement with the Florida Local Government Finance Commission, dated June 1, 2023. Section 5.03 of this Interlocal Agreement requires the Board to provide written approval for the Florida Local Government Finance Commission (FLGFC) to issue bonds for projects within Brevard County.
The highly anticipated Bowen Aquarium is set to become the second campus of the East Coast Zoological Foundation, joining Brevard Zoo as a transformative force in environmental stewardship for Central Florida. Situated on 14 acres of shoreline at Port Canaveral along the Banana River, this facility is dedicated to protecting the Indian River Lagoon (IRL) and the surrounding ecosystems through sustained funding, education, and research. By committing a percentage of every paid admission to IRL conservation, the aquarium is projected to contribute approximately $500,000 annually toward restoration efforts, positioning it among the largest supporters of the Indian River Lagoon National Estuary Program (IRLNEP). Building upon the foundation’s legacy, established in 1986 when community volunteers constructed Brevard Zoo, the aquarium will feature state-of-the-art rehabilitation centers for sea turtles, openly visible to the public to highlight the complete journey from rescue to release. The Bowen Aquarium will educate more than 550,000 visitors each year on sustainable practices such as reducing ocean plastics and supporting habitat restoration, while advancing multi-institutional research on water quality and biodiversity.
Designed as an immersive, open-air experience that seamlessly blends indoor and outdoor environments, the Bowen Aquarium will showcase Florida’s extraordinary aquatic life, including native species such as bull sharks, otters, stingrays, and alligators. Signature exhibits like the Scaife Family Sea Turtle Healing Center and Shark Flats will offer dramatic above- and below-water views, where dorsal fins cut through expansive habitats. Along winding boardwalks, guests will explore hands-on conservation encounter zones featuring oyster, clam, mangrove, and seagrass ecosystems, presented in humane, low-stress settings, paired with real-time water quality displays and interactive play areas inspired by Port Canaveral’s locks. Adjacent to the aquarium, the Dr. Duane De Freese Coastal Conservation Hub will provide free public access to classrooms, wet labs, and research facilities, serving as a regional center for education and innovation while inspiring the next generation of engineers, conservationists, and problem-solvers. This integrated approach elevates animal care through advanced veterinary technologies and enrichment while drawing new talent and opportunity to the Space Coast.
In its role as a premier tourist destination, strategically located near major cruise lines and visible from key transportation corridors, the Bowen Aquarium will generate significant economic benefits supporting over 1,200 local jobs and over $125 million in annual sales. Through the Our Legacy Campaign, which mirrors the community-driven origins of Brevard Zoo, the Bowen Aquarium represents bold vision and collective action, ensuring the long-term protection of Florida’s interconnected waterways, the St. Johns River, the Indian River Lagoon, and the Atlantic Ocean. This world-class destination stands as a powerful example of what shared commitment can achieve, transforming complex challenges into extraordinary outcomes for wildlife, ecosystems, and people.
The County’s Bond Counsel, Nabor, Giblin & Nickerson, has prepared the approving Resolution, regarding the Bowen Aquarium project. The Resolution proposed for adoption by the Board satisfies the pertinent legal requirements and provides that neither the County nor any of the elected officials or staff of the County will have any obligations or liability, financial or otherwise, with respect to the issuance of conduit revenue bonds issued by FLGFC. The County’s Financial Advisor, PFM, has reviewed the approving Resolution, to ensure that the proposed transaction will not have a negative financial impact on the County. PFM has confirmed that the issuance of the bonds will not have a negative financial impact on the County, impair the County’s credit rating, or impact future debt capacity.
Clerk to the Board Instructions:
Provide executed copies of the Resolution to the County Attorney’s Office and to the Central Services Department.