LEGISLATIVE ACTION ITEM
SPONSOR: Grover C. Robinson, IV, Mayor
SUBJECT:
title
SUPPLEMENTAL BUDGET RESOLUTION NO. 2021-110 PORT OF PENSACOLA - FLORIDA SEAPORT TRANSPORTATION ECONOMIC DEVELOPMENT (FSTED) GRANT FUNDS FOR WAREHOUSE IMPROVEMENT PROJECTS ALLOCATED BY THE REFINANCE OF FLORIDA PORTS FINANCING COMMISSION SERIES 19 BONDS
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RECOMMENDATION:
recommendation
That City Council adopt Supplemental Budget Resolution No. 2021-110.
A RESOLUTION AUTHORIZING AND MAKING REVISIONS AND APPROPRIATIONS FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2022; PROVIDING FOR AN EFFECTIVE DATE.
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HEARING REQUIRED: No Hearing Required
SUMMARY:
The Florida Ports Financing Commission in the fall of 2020 refinanced their series 19 bonds and, using a portion of those proceeds and the FSTED grant allocation process, has awarded the Port of Pensacola $200,000 for the purchase and installation of a crane for Warehouse 9/10 adding significantly to the capabilities of the facility. Streamline Boats of NW Florida will provide the local match of $200,000 to complete the project.
PRIOR ACTION:
None
FUNDING:
Budget: $ 200,000 FSTED grant (Warehouse Improvements #413775-1-94-02)
200,000 Streamline Boats of NW Florida (Port Matching Funds 50%)
$ 400,000
Actual: $ 80,000 Design, Engineering, Permitting, etc.
320,000 Purchasing and Contracting
$ 400,000
FINANCIAL IMPACT:
Adoption of the supplemental budget resolution will appropriate the FSTED Grant funds in the amount of $200,000 and local match provided by Streamline Boats of NW Florida in the amount of $200,000 for a total amount of $400,000.
LEGAL REVIEW ONLY BY CITY ATTORNEY: Yes
11/30/2021
STAFF CONTACT:
Kerrith Fiddler, City Administrator
Amy S. Miller, Deputy City Administrator - Administration and Enterprise
Clark Merritt, Port Director
ATTACHMENTS:
1) Supplemental Budget Resolution 2021-110
2) Supplemental Budget Explanation 2021-110
PRESENTATION: No end