SUBJECT/RECOMMENDATION:
Title
Approve the recommended Penny for Pinellas project list, as revised for Fiscal Years 2018/19 through 2019/20.
Body
SUMMARY:
On March 6, 1997, the City Council adopted Ordinance 6137-97. The ordinance established the requirement for a special hearing prior to adoption of the capital improvement budget to discuss the use of Penny for Pinellas tax, and at any time in which there is any proposed change to the Penny for Pinellas project funding of $500,000 or more.
Changes to Penny for Pinellas projects that meet this criterion in the proposed 2018/19 capital improvement budget and six-year plan include the following:
• Ruth Eckerd Hall - This project has been established in the amount of $3 million to be funded in fiscal year 2018/2019 and 2019/2020. This funding will provide for specific capital improvements and enhancements necessary for the renovation, repair and operation of this City owned facility.
• Downtown Intermodal Facility - This project is being eliminated from the project list due to the postponement of the project shifting it outside of this Penny cycle. This represents a decrease of $2,425,000 in Penny for Pinellas funding planned in fiscal year 2019/2020.
• Crest Lake Park Improvements - This project is being funded with settlement funds from the BP Deepwater Horizon oil spill, which eliminates the need for Penny funds. This represents a decrease of $750,000 in Penny for Pinellas funding planned in fiscal year 2018/2019.