LEGISLATIVE ACTION ITEM
SPONSOR: D.C. Reeves, Mayor
SUBJECT:
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PORT OF PENSACOLA - FLORIDA JOB GROWTH INFRASTRUCTURE GRANT AGREEMENT - DEPARTMENT OF ECONOMIC OPPORTUNITY - HIGH PERFORMANCE MARITIME CENTER OF EXCELLENCE AND AMERICAN MAGIC AT THE PORT OF PENSACOLA
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RECOMMENDATION:
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That City Council approve the acceptance of the Florida Job Growth Infrastructure Grant - Department of Economic Opportunity in the amount of $3,963,120 for the design and construction of a dock and a boat ramp, and the design, build-out, and retrofit of an existing warehouse and supporting infrastructure at the Port of Pensacola. Further, that City Council authorize the Mayor to take the actions necessary to accept, execute and administer this grant consistent with the terms of the agreement and the Mayor’s Executive Powers as granted in the City Charter. Also, that City Council adopt a resolution accepting the grant award and authorizing the Mayor to execute the grant.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
United by a mandate to win the America’s Cup, American Magic sailing team is developing a pathway for a generation of engineers, boatbuilders and technicians to enhance the marine industry in the United States and set Pensacola on a trajectory of being a leader on the world stage. The facility is required to secure headquarters relocation of Bella Mente Quantum Racing Association (American Magic) to the Port of Pensacola.
Buildout of existing Port of Pensacola warehouse #10, will allow American Magic, which has utilized the port on seasonal basis for training and development, to permanently relocate their operations, training, and boat building facility to the Port of Pensacola and creating 150 high wage jobs as a result.
As a requirement of the Governor’s Job Infrastructure Growth Grant, the City of Pensacola will retain ownership of the facility and the complex will be leased to American Magic. The new dock and boat ramp facility will be utilized by American Magic as well as other Port tenants.
The grant requires that all funds be expended no later than June 30, 2026 and that 150 jobs are created on or before December 31st 2036.
PRIOR ACTION:
N/A
FUNDING:
Budget: $ 3,963,120 Governor’s Job Growth Infrastructure Grant
$ 8,500,000 Triumph Gulf Coast
$ 2,000,000 FDOT / FL Seaport Transportation Economic Development Fund (FSTED)
$14,463,120
Actual: $ 1,446,312 Architecture and Engineering
$13,016,808 Construction
$14,463,120 Total
FINANCIAL IMPACT:
Funding from this grant will be combined with Triumph Gulf Coast and FDOT Florida Seaport Transportation Economic Development (FSTED) anticipated award.
LEGAL REVIEW ONLY BY CITY ATTORNEY: Yes
6/2/2023
STAFF CONTACT:
Kerrith Fiddler, City Administrator
Amy Miller, Deputy City Administrator
Erica Grancagnolo, Economic Development Director
Clark Merritt, Port Director
ATTACHMENTS:
1) Florida Job Growth Infrastructure Grant Agreement - Draft
PRESENTATION: No end