SUBJECT/RECOMMENDATION:
Title
Approve a Capital Project Funding Agreement grant for the construction of the Clearwater Beach Marina in the amount of $7,850,000, between Pinellas County and the City of Clearwater and authorize the appropriate officials to execute same.
Body
SUMMARY:
The city has been awarded a grant from Pinellas County in the amount of $7,850,000 for construction of the Clearwater Beach Marina. The Clearwater Beach Marina has not undergone any major replacement or renovations since 1965. On June 20, 2024, City Council approved a construction agreement with Kokolakis Contracting, Inc to reconstruct the Clearwater Beach Marina at a cost of $43,469,475. Construction began in November 2024 and is currently in progress.
An economic impact study reported the Clearwater Beach Marina commercial operations hosted 1 million visitors, contributed 175,400 room nights, and $126 million in direct spending. Therefore, the City applied for a capital funding grant through the Tourist Development Council (TDC) and was awarded a grant in the amount of $7,850,000. The grant requires a cash match in the same amount, which is already budgeted in the current project.
As part of the agreement, the City will have to provide various marketing and sponsorship benefits to Visit St. Pete-Clearwater for a period of ten years. Additionally, the City will have to insure replacement cost at a level of at least 90%.
APPROPRIATION CODE AND AMOUNT:
Grant revenues will be credited upon receipt in capital project C1905, Beach Marina Upgrade.
USE OF RESERVE FUNDS:
N/A
STRATEGIC PRIORITY:
Approval of the purchase order supports several Strategic Plan Objectives, including:
• 1.2: Maintain public infrastructure, mobility systems, natural lands, environmental resources, and historic features through systematic management efforts.
• 2.3: Promote Clearwater as a premier destination for entertainment, cultural experiences, tourism, and national sporting events.
