Subject:
Title
Acknowledge receipt of the Economic Development Commission of Florida’s Space Coast Bi-Annual Report and Metrics
End
Fiscal Impact:
No Fiscal Impact
Dept/Office:
County Manager
Requested Action:
Recommendation
It is requested that the Brevard County Board of County Commissioners acknowledge the receipt of the Economic Development Commission of Florida’s Space Coast’s Bi-Annual Financial Report for their expenditures from October 1, 2022 through September 30, 2023 and the Fiscal Year End 22/23 Economic Development Metrics.
End
Summary Explanation and Background:
On May 30, 2019, the Board of County Commissioners approved the Grant Agreement between Brevard County and the Economic Development Commission. This Agreement requires the Economic Development Commission to submit a bi-annual report to the County Manager providing the amount of County Grant funds expended to fulfill the requirements in the County’s Grant Agreement.
According to the agency’s bi-annual financial report, the agency has spent $1,400,050 of the grant funds provided by the County during FY 2022/2023. These funds have been spent in the following categories: Marketing & Communications Programs, $128,242; Facilities & Occupancy, $136,350; General Administration, $38,282; Personnel, $1,028,366; and Professional Services, $68,810.
Per Board action on September 5, 2023, the grant award for FY 2023/2024 has been reduced by 10%.
Clerk to the Board Instructions: