Subject:
Title
Approval Re: Request #19 for Disbursement of Educational Facilities Impact Fees (Districts 1 - 5).
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Fiscal Impact:
Disbursements to the School Board in the amount of $17,941,474 were budgeted for FY20/21. Request #19 is for disbursement of Educational Facilities Impact Fees in the amount of $5,344,568.04 to the School Board. This money was collected prior to January 1, 2021 and deposited in the Educational Facilities Impact Fee Trust Funds. Together with Request #18, a total of $9,364,058.23 or 52% of the budgeted amount will have been transferred to the School Board for the first two quarters of the fiscal year. Therefore, no additional fiscal impacts are anticipated to result from this disbursement. The Board of County Commissioners has the sole authority to impose Educational Facilities Impact Fees on new development countywide and chose to do so beginning in September 2004. All Educational Facilities Impact Fees, less actual administrative costs, are transferred in full to the School Board of Brevard County for expenditure.
Dept/Office:
Planning and Development
Requested Action:
Recommendation
It is requested that the Board of County Commissioners authorize the disbursement of educational facilities impact fees in the amount of $5,344,568.04 to the School Board of Brevard County in accordance with the terms of the interlocal agreement and authorize the County Manager and Budget Office to execute any budget changes required to implement this disbursement.
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Summary Explanation and Background:
On January 11, 2021 the Impact Fee Advisory Committees for both of the Educational Facilities Impact Fee Benefit Districts met and adopted project funding recommendations for consideration by the School Board. The Impact Fee Advisory Committees consist of one representative from each of the following: School Board, Brevard County and each municipality within the Benefit District that has entered into an interlocal agreement with the County to participate in the Educational Facilities Impact Fee program. The Impact Fee Advisory Committees generally meet quarterly to make recommendations regarding the use of the impact fees that have been collected during the prior fiscal quarter.
The School Board approved the funding recommendations on February 9, 2021.
Clerk to the Board Instructions: