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File #: 17-00189    Version: 1 Name:
Type: Legislative Action Item Status: Passed
File created: 2/28/2017 In control: City Council
On agenda: 3/9/2017 Final action: 3/9/2017
Enactment date: Enactment #:
Title: MORATORIUM ON ENCUMBERING ANY FURTHER LOCAL OPTION SALES TAX (LOST) IV FUNDS
Sponsors: Jewel Cannada-Wynn

LEGISLATIVE ACTION ITEM

 

SPONSOR:                     City Council Member Jewel Cannada-Wynn

 

SUBJECT:

 

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MORATORIUM ON ENCUMBERING ANY FURTHER LOCAL OPTION SALES TAX (LOST) IV FUNDS                     

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RECOMMENDATION:

 

recommendation

That City Council place a moratorium on encumbering any further LOST IV funds until the City Council and the Mayor have set priorities for expenditures and/or projects for these funds.

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HEARING REQUIRED:    No Hearing Required      

 

SUMMARY:

 

The fourth round of funding, LOST IV, begins in 2018.  The City Council and the Mayor have yet to set a list of priorities and/or projects for the use of these funds; however a portion of these funds are being encumbered for upcoming projects and/or purchases prior to these priorities being set.  LOST IV funds have been encumbered for building of Fire Station #3 (3.3 Million), the Bayview Resource Center (6.05 Million with current estimates at 8.25 Million), the purchase of two (2) fire apparatus ($935,000), and a proposal for funds to be used for Osceola Golf Course Club House renovation project ($700,000).

 

In the past, LOST dollars have been spent purchasing equipment for the police department, fire department and parks and recreation improvements; issues such as drainage, lighting and sidewalk repair and installation are important capital projects that need consideration as well.

 

Further LOST IV funds should not be expended until the City Council and the Mayor have the opportunity to set the priorities for the use of these funds.

 

PRIOR ACTION:                     

 

February 11, 2016 - City Council approved use of LOST IV funds for Fire Station #3 (3.3 Million)

February 11, 2016 - City Council approved use of LOST IV funds for Bayview Resource Center (6.05 Million)

February 9, 2017 - City Council approved use of LOST IV funds for the purchase of two (2) Fire Apparatus ($935,000)

March 9, 2017 - PROPOSED - $700,000 for Osceola Clubhouse Renovation Project

 

FUNDING:                     

 

N/A

 

 

FINANCIAL IMPACT:

                     

None

 

STAFF CONTACT:

 

Don Kraher, Council Executive

 

ATTACHMENTS:

 

1)                     None

 

PRESENTATION:     No