Subject:
Title
Purchase Authorization with Jones Lang LaSalle Americas, Inc. (JLL) for Public-Private Partnership Advisory Services for the STAR Center.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of the Purchase Authorization (Piggyback Agreement) with Jones Lang LaSalle Americas, Inc. (JLL) for Public-Private Partnership (“P3”) Advisory Services utilizing the State of Florida’s Contract No. DMS-22/23-007B.
• This agreement provides for strategic and financial advisory services that will contribute to the redevelopment of the STAR Center via P3 services.
• P3 advisory services will provide support to the County in defining its priorities, conceptualizing development of the project, conducting market analysis, facilitating transaction structuring and financial feasibility analysis.
• The outcome of this contract allows JLL to assist the County in the preparation, negotiation, and finalizing contractual agreements for this project.
• This contract utilizes pricing from State of Florida Contract No. DMS-22/23-007B for Real Estate Services.
• Funding for this agreement is not included in the current year budget. A future budget amendment will likely be proposed to recognize grant funds in the amount of $250,000.00. The grant match of $75,000 is included in the FY25 Adopted Budget in the Star Center Fund.
Contract No. 25-0388-SD with a total contract amount not to exceed $250,000.00 through April 8, 2029.
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Strategic Plan:
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the public’s resources
Summary:
This agreement provides for strategic and financial advisory services that will contribute to the redevelopment of the STAR Center via P3 services. The projected outcome will allow the County to find a development firm for the project and negotiate contractual agreements.
Background/Explanation:
Public-Private Partnership (“P3”) advisory services will provide support to the County in defining its priorities, conceptualizing development of the project, conducting market analysis, facilitating transaction structuring and financial feasibility analysis.
Fiscal Impact:
Contract total expenditure not to exceed $250,000.00.
The revenues and expense budgets for this agreement were not anticipated or included in the current year budget of the Economic Development Department in the STAR Center Fund and will require a future budget amendment. However, the revenue in the amount of $250,000.00 to be paid to the County by the State of Florida Department of Commerce with cost sharing funds of $75,000 was provided to the Board in February, item 25-0109A, and subsequently approved.
Matching funds of $75,000.00 will be provided through the STAR Center budget utilizing staff salary ($19,000.00) and the reallocation of the operational budget ($56,000.00). The unanticipated revenue and matching funds will be recognized in a budget amendment to be brought to the Board in May.
Delegated Authority:
Authority for the County Administrator to approve and execute this agreement is granted under Code Section 2-62(a)(1).
Staff Member Responsible:
Cynthia Johnson, Director, Economic Development
Merry Celeste, Purchasing Director, Administrative Services
Joe Lauro, Director, Administrative Services
Partners:
N/A
Attachments:
Agreement