05-09-2017 School Board Meeting
Agenda Item #48


Title
Recommendations for Use of School Impact Fees

Discussion

 A meeting of the Educational Facilities Impact Fee Benefit District Advisory Committees was held on April 17, 2017, 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.

Use of Available Impact Fees 
The Advisory Committees recommended the use of available Impact Fees collected from July 1, 2014 to January 1, 2017 as follows:
   Benefit District 1: South Area Elementary School = $6,871,062.06. Brevard County notified School District staff after the meeting that the amount for Benefit District 1 was overstated by $80,017.20 due to an un-recorded prior year refund. The correction is noted in red.
   Benefit District 2: Central Area Elementary School = $5,693,803.03
   Benefit District 3: 12-Classroom Addition Building at Cocoa High School = $2,441,666.94
   Benefit District 4: Pay debt service = $1,470,465.45

Use of School District Interest on Previously Collected Impact Fees  
The Advisory Committees recommended the use of School District interest earned on previously collected Impact Fees from July 1, 2014 to June 30, 2016 as follows:
   Benefit District 1: South Area Elementary School = $6,697.72
   Benefit District 2: Central Area Elementary School = $4,973.32
   Benefit District 3: 12-Classroom Addition Building at Cocoa High School = $71.96
   Benefit District 4: Pay debt service = $85.91

Use of Brevard County Interest Available at the Disbursement of the Available Impact Fees   
The Advisory Committees recommended the use of Brevard County interest available at the disbursement of the available Impact Fees as follows:
   Benefit District 1: South Area Elementary School = TBD
   Benefit District 2: Central Area Elementary School = TBD
   Benefit District 3: 12-Classroom Addition Building at Cocoa High School = TBD
   Benefit District 4: Pay debt service = TBD

Notes

  1. The Brevard County ordinance reducing the Benefit Districts from four (4) to two (2) took effect on January 2, 2017.  The available Impact Fees are requested in four (4) Benefit Districts through January 1, 2017.
  2. School Board interest earned on previously collected Impact Fees can be allocated upon approval by the School Board.
  3. Brevard County interest earned on the Impact Fees available through January 1, 2017, from the period of January 2, 2017 until the disbursement of said Impact Fees, shall be a separate disbursement.  The separate accounts for the four (4) Benefit Districts will then be closed. 
  4. Approval by the School Board of the use of the available Impact Fees 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 Board due within 21 days after the end of the month in which the request for the funds is made by the School Board.


Recommendation

Approve the recommendations made by the Educational Facilities Impact Fee Advisory Committees for the use of Impact Fees available as of January 1, 2017 (as subsequently amended by Brevard County), the School Board interest earned on previously collected Impact Fees and the Brevard County interest earned on the Impact Fees available through January 1, 2017, from the period of January 2, 2017 until the disbursement of said Impact Fees.

Authorize the Superintendent to request disbursement by Brevard County of the Impact Fees available as of January 1, 2017 and the Brevard County interest earned on the Impact Fees available through January 1, 2017, from the period of January 2, 2017 until the disbursement of said Impact Fees.



Meeting Date(s)
Action - 5/9/2017

Authority for Action
1013.66 F.S.

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Agenda Item will not Require the Expenditure of Funds

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program

Contact
Dane Theodore, Assistant Superintendent / Facilities Services  633-1000 x450


Attachment:  Meeting #11 Approval Package - Rev 1.pdf