Agenda Item #54
Transfer and Use of Educational Impact Fees
A meeting of the Educational Facilities Impact Fee Benefit District Advisory Committees (Advisory Committees) was held on April 7, 2011 as required by Section 2.5 of the Interlocal Agreement between Brevard County, Florida and the District School Board of Brevard County, Florida, Providing for Funding of New or Expanded Public Educational Facilities with Educational Facilities Impact Fees (Interlocal Agreement).
At their meeting on September 23, 2008 the School Board approved the concept of using Impact Fees to pay debt service on qualifying Certificates of Participation, as permitted by Section 2.4 of the Interlocal Agreement.
Use of Currently Available Funds
Approval by the School Board of the use of currently available funds shall constitute appropriation of the funds, as required by Section 3.2 of the Interlocal Agreement, with remittance of the funds from Brevard County to the School District due within 21 days after the end of the month in which the request for the funds is made by the School Board.
Transfers of Previously Allocated Funds
Transfers of previously allocated Impact Fees can be made upon approval by the School Board.
Approve the recommendations made by the Impact Fee Benefit District Advisory Committees for the use of currently available Impact Fees in the amount of $3,678,774.33 and the transfer of previously allocated Impact Fees in the amount of $1,211,889.97. Authorize the Superintendent to request the transfer of the currently available Impact Fees from Brevard County to the School District.
Information - 4/26/2011
Consent after Information5/10/2011
Authority for Action
Involves Expenditure of Funds Directly in the Classroom
Source of Funding
Agenda Item will not Require the Expenditure of Funds
Dane Theodore, Director, Planning & Project Management 321-633-1000 x657
Attachment: Minutes of Meeting #8.pdf
Attachment: Supporting Documents.pdf
Attachment: Impact Fee Benefit District Map.pdf