Subject:
Title
Administrative Amendment No. 2 to realign appropriation from Countywide Park Roads and Parking Paving Areas to Environmental Lands Acquisition in Fiscal Year 2024.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Administrative Amendment No. 2 to realign appropriation from Countywide Park Roads and Parking Paving Areas project, 004093A, to Environmental Lands Acquisition project, 002168A, in Fiscal Year 2024 to fund acquisition of the “Whitesell” property.
• Written Notice to exercise the option to purchase real property with the Blanche K. “Pip” Whitesell Revocable Trust is scheduled to go before the BCC on May 21st, 2024 (24-0633A).
• The expiration date to exercise the Option is May 24th, 2024.
• The purchase price for the “Whitesell” property is $4,930,000.00. Acquisition will be made with funds from the Environmental Lands Acquisition project, 002168A.
• Environmental Lands Acquisition project, 002168A is budgeted in the FY24-FY29 Capital Improvement Program and funded by Local Infrastructure Sales Surtax (Penny for Pinellas).
• The Fiscal Year (FY) 2024 budget for Environmental Lands Acquisition project, 002168A, is $4,500,000.00 ($500,000.00 of which has been spent). Realigning $1,000,000 to this project will result in an amended FY24 budget of $5,500,000. Providing sufficient budget to cover year to date expenditure and the “Whitesell” acquisition.
• There is no net increase or decrease to FY24. Future year estimates for Environmental Lands Acquisition project will be reduced in the amount of this amendment, $1,000,000.00. There is no increase or decrease to the project allocations in the six-year plan.
Body
Strategic Plan:
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the public’s resources
5.3 Ensure effective and efficient delivery of county services and support
Summary:
This amendment realigns $1,000,000 from the Countywide Park Roads and Parking Paving Areas project, 004093A, to the Environmental Lands Acquisition project, 002168A, in FY24. This action will result in an amended FY24 budget of $5,500,000 for Environmental Lands Acquisition project, 002168A, providing sufficient budget to purchase the “Whitesell” property. The expiration date for the County to provide a Written Notice to exercise the option to purchase this property is May 24th, 2024. The Written Notice will appear on the May 21st, 2024 BCC Agenda (24-0633A).
Background/Explanation:
On March 31, 1998, the County executed the Option Contract for Sale and Purchase with the Seller for 20.315 acres of land, including improvements. The expiration date to exercise the Option with the Blanche K. “Pip” Whitesell Revocable Trust Agreement (Seller) is May 24th, 2024. Written Notice to exercise the County’s option to purchase this property will appear on the May 21st, 2024 BCC Agenda.
The purchase price has been set at $4,930,000. The FY24 budget for Environmental Lands Acquisition project, 002168A, of $4,500,000 is not sufficient. This amendment will result in an amended FY24 budget of $5,500,000, providing adequate funding for YTD expenditures and the “Whitesell” property acquisition.
Parking Paving Areas project, 004093A, has an FY24 budget of $2,041,000 and an FY24 estimate of $518,000. Realigning $1,000,000 from this project in FY24 will leave adequate funding to complete what is planned.
Fiscal Impact:
The “Whitesell” property purchase price has been set at $4,930,000. This acquisition will be purchased with funds from Environmental Lands Acquisition project, 002168A, budgeted in the FY24-FY29 CIP plan funded by Local Infrastructure Sales Surtax (Penny for Pinellas).
FY24 budget for Environmental Lands Acquisition project, 002168A, is $4,500,000. This amendment will result in an amended FY24 budget of $5,500,000. An amended budget of $5,500,000 will be sufficient to fund the purchase price of $4,930,000 and YTD expenditures of $500,000 for a previous acquisition. Outer year estimates for the Environmental Lands Acquisition project, 002168A, will be reduced to keep the total project allocation the same.
Parking Paving Areas project, 004093A, is budgeted in the FY24-FY29 CIP plan and funded by Local Infrastructure Sales Surtax (Penny for Pinellas). The FY24 budget is $2,041,000. The FY24 estimate of $518,000. Realigning $1,000,000 from the project’s FY24 budget will leave sufficient budget to complete the work estimated in FY24.
Realigning the appropriation of $1,000,000 will not result in a net increase or decrease to FY24. The total project allocations within the Six-Year plan will remain the same.
Delegated Authority:
Authority for the County Administrator to sign this Administrative Budget Amendment No. 2 is granted under Florida Statutes. In accordance with Section 129.06, F.S., the Board of County Commissioners (Board) may establish procedures by which the designated Budget Officer may authorize certain budget amendments. The Board approved delegation of this authority to the County Administrator with Resolution No. 04-62 on April 13, 2004.
Staff Member Responsible:
Chris Rose, Director, Office of Management and Budget
Kristen Pittman, Budget and Financial Management Analyst
Partners:
N/A
Attachments:
A-24-02