07/11/2023 (2) - Laserfiche WebLink

Home Browse Search

Board of County Commissioners Meeting Minutes - Final July 11, 2023 less than six months. The four cents collected were divided between three funds: 1 2/3 cents for tourism development agencies ($1,725,138), 1 5/6 cents for beach restoration ($1,897,362), and 1/2 cents for the lease obligation at the Jackie Robinson Training Complex ($517,500). According to Florida Statute 125.0104, the first three cents could be spent on sports stadium maintenance, capital tourism promotion, and beach restoration. Ms. Daniels clarified that under the statute, the fifth cent was only allowed to be levied by high -impact tourism counties that collect sales above $600,000,000. Indian River County collected closer to $103,000,000; therefore, the County would not qualify for the fifth cent, referred to as the sixth cent statute, resulting in five pennies for the County. She further detailed that the fourth and the sixth cent could only be used towards sports stadium capital and tourism promotion. Ms. Daniels stated at the June 20, 2023, meeting, Chairman Earman had requested staff provide a 10 -year history of the beach preservation fund. Over the ten (10) years, $29,407,998 was collected to support the beaches. She provided the Beach Restoration Fund history, including the completed beach restoration projects. She pointed out that with any grants and FEMA proceeds, the money had to be spent first, and then the reimbursement would be received. She noted the County was awaiting approximately 14.3 million dollars in reimbursements from the State and FEMA; after these funds were received, the beach fund should have a balance of roughly $10.4 million. Ms. Daniels referred to the direction by the Board for staff to evaluate how the County could appropriate the most funding to the Beach Restoration Fund. She reviewed the options, one being the current Jackie Robinson Training Center (JRTC) lease obligation of $800,000. Pointing out that on September 1, 2023, the County's commitment would drop by half to $400,000. She mentioned the current 1/2 cent of the Tourist Tax generated approximately $500,000 and proposed the County reduce the 1/2 cent to 1/4 cent ($250,000). This would allow the 1/4 cent to be reallocated to the Beach Restoration Fund. Ms. Daniels presented the matrix and summarized the options to reallocate the additional cent of Tourist Tax to levy. Option 1: Levy an additional cent and reallocate funds as follows: Beach Restoration Fund 2 3/4 cents (2.75) Tourist Development Fund 2 cents (2.0) JRTC Fund 1/4 cent (.25) Option 2: No additional levy and reallocate funds as follows: Beach Restoration Fund 2 1/12 cents (2.08) Indian River County Florida Page 17