Subject:
Title
Approval RE: Library Impact Fee Advisory Committee Project Funding Recommendations (Districts 1 through 5).
End
Fiscal Impact:
FY20/21: The Library Impact Fee Trust Fund has collected $198,482.46 through the first three quarters of Fiscal Year 2019/20. The trust fund is expected to carry forward $374,020 and collect an additional $151,946 in Library Impact Fees in Fiscal Year 2020/21 which is more than adequate to fully fund the project recommendation. The revenue forecast was reduced substantially from FY19/20 due to the uncertainty surrounding the impact of COVID 19 on the construction industry. Given the extensive reserves and potential new Library Impact Fee collections, funding for subsequent fiscal years is considered adequate to fully implement the project funding recommendations.
Dept/Office:
Planning and Development Department
Requested Action:
Recommendation
It is requested that the Board of County Commissioners consider approval of the project funding recommendation in the amount of $150,000.00 per fiscal year for the next three fiscal years as prepared by the Library Impact Fee Advisory Committee on July 16, 2020; and if approved, authorize the Budget Office to execute any budget change requests necessary for implementing these appropriations.
End
Summary Explanation and Background:
The Library Impact Fee Advisory Committee met on July 16, 2020 and unanimously adopted the project funding recommendations itemized below. The Library Impact Fee Advisory Committee consists of one representative from Brevard County and each of the municipalities in Brevard County with the exception of the City of Cape Canaveral. Cape Canaveral has adopted its own Library Impact Fee program and does not participate in the Brevard County Library Impact Fee program.
Project Funding Recommendations:
1. Appropriate $150,000.00 in Fiscal Year 2020/2021 for the purchase of new library books through its large print and best sellers subscription program;
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