TO: Honorable Mayor & Members of the North Port Commission
FROM: Peter D. Lear, CPA, CGMA, City Manager
TITLE: Ordinance No. 2020-20 Amending the Non-District Budget for FY 2019-20 for Reimbursement of Costs as Outlined in the West Villages Developer Agreement (Post Annexation)
Recommended Action for Second Reading
Recommend approval and adoption of Ordinance No. 20-2020 amending the non-district budget for FY 2019-20 on second reading.
Background Information
The West Villages Developer Agreement (Post Annexation) was passed by the City Commission on March 25, 2020.
In the Parks and Rec Impact Fee Fund, $2,860,218 in fund balance and $60,000 in additional estimated revenue will be added. Payments will be made to West Villages in the amount of $1,889,446.60 for the conceptual plan for the 63 acre park, $745,680 for 60% of the cost of the design and construction for Blue Heron Park, $150,000 for additional Blue Heron Park improvements and $135,091 for possible 3rd and 4th quarter payments for the remainder of the Blue Heron Park expenses.
In the Fire Impact Fee Fund, $24,842 will be added from fund balance to reimburse West Villages for the Fire Study from Emergency Services Consulting International which has already been completed.
In the Law Enforcement Impact Fee Fund, $85,947 will be added from fund balance to reimburse West Villages for additional Law Enforcement System Improvements.
This ordinance was reviewed by legal and is approved as to form and correctness.
Recommended Changes for Second Reading
There are no changes from first to second reading.
Strategic Plan
Neighborhood Enhancement
Financial Impact
If adopted, this budget amendment would increase the FY 2019-20 Parks and Rec Impact Fee Fund by $2,920,218, the Fire Impact Fee Fund by $24,842 and the Law Enforcement Impact Fee Fund by $85,947, funded by reserves and increased revenue.
Procurement
N/A
Attachments:
1. Ordinance No. 2020-20 Second Reading
2. 2020-20 Fund Balanc...
Click here for full text