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File #: 24-1561    Version: 1 Name:
Type: Recommendation Status: Passed
File created: 10/8/2024 In control: County Administrator
On agenda: 10/29/2024 Final action: 10/29/2024
Title: Approval of a Tourist Development Tax Grant Application Review Committee grant for each of the applicants listed in Attachment A, in the amounts, fiscal years, and for the projects listed therein, subject to: ? the execution of a Funding Agreement, including a provision for the TDT ARC funds to revert back to the County if the project is not completed within the period of time specified in the Funding Agreement, as well as any other terms, conditions, or restrictions that may be included therein, ? each applicant shall enter into such Funding Agreement within the first fiscal year within which they are allocated funding; for those applicants awarded funding in fiscal year 2024, a Funding Agreement shall be executed by the end of fiscal year 2025, and ? with the exception of those funds being used only to repair an existing facility, prior to receiving any TDT funds, applicants must demonstrate to the County's satisfaction that a minimum of 80% of non-TDT funding necessary to complet...
Attachments: 1. 2024 TDT ARC Grant Application Summaries, 2. Attachment A, 3. 2024-10-29 PPP File 24-1561 Discussion Tourist Development Tax Grant Application Review Committee
Interoffice Memorandum

DATE: October 8, 2024

TO: Mayor Jerry L. Demings and County Commissioners

THROUGH: N/A

FROM: Stephanie Taub, Division Manager

CONTACT: Stephanie Taub, Division Manager

PHONE: 407-836-5915

DIVISION: Fiscal and Business Services

ACTION REQUESTED:
title
Approval of a Tourist Development Tax Grant Application Review Committee grant for each of the applicants listed in Attachment A, in the amounts, fiscal years, and for the projects listed therein, subject to:

? the execution of a Funding Agreement, including a provision for the TDT ARC funds to revert back to the County if the project is not completed within the period of time specified in the Funding Agreement, as well as any other terms, conditions, or restrictions that may be included therein,

? each applicant shall enter into such Funding Agreement within the first fiscal year within which they are allocated funding; for those applicants awarded funding in fiscal year 2024, a Funding Agreement shall be executed by the end of fiscal year 2025, and

? with the exception of those funds being used only to repair an existing facility, prior to receiving any TDT funds, applicants must demonstrate to the County's satisfaction that a minimum of 80% of non-TDT funding necessary to complete the TDT project have been raised. (Tourist Development Tax Grant Application Review Committee)
body

PROJECT: 2024 TDT ARC Grant Application Cycle

PURPOSE: During the October 3, 2023, meeting, the Board approved allocating $75 million of tourist development tax (TDT) over five years to the Tourist Development Tax Grant Application Review Committee (ARC). Subsequently, at their March 15, 2024, meeting, the ARC voted to open an ARC application funding window from April 1, 2024, through April 30, 2024, to accept capital project grant requests in excess of $2 million and up to $15 million for TDT eligible projects. With the assistance of United Arts and pursuant to the established application review crite...

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