Subject:
Title
State of Florida Department of Commerce Defense Grant Agreement for funding professional services for the STAR Center redevelopment Public Private Partnership planning and proposal.
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Recommended Action:
Recommended Action
Approval of a $250,000.00 Defense Grant Agreement with the State of Florida Department of Commerce, for execution by the County Administrator, to provide funds for the development and execution of a Public Private Partnership Request for Proposal (RFP) for a real estate redevelopment plan for the Young Rainey STAR Center.
It is further recommended that the Board of County Commissioners delegate authority to the County Administrator to negotiate and execute all agreements and documentation associated with the funding.
• The grant is funded through this cost reimbursement agreement effective July 1, 2024 through June 30, 2025 that requires a $75,000.00 County match.
• The funding is for professional services to assist the County in the research, development, planning, and execution of an RFP for the redevelopment of the STAR Center.
• The Scope of Work includes Market Analysis and Concept Refinement, Assessment of the Transaction Structures, Project Financial Analysis, RFP creation and response review, and Negotiation of the Final Agreement,
• The County will engage with Jones Lang LaSalle Americas, Inc. (JLL) to perform the Scope of Work in the Defense Grant Agreement. Body
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Strategic Plan:
Foster Continual Economic Growth and Vitality
4.1 Proactively attract and retain businesses with targeted jobs to the county and the region
4.3 Catalyze redevelopment through planning and regulatory programs.
4.4 Invest in infrastructure to meet current and future needs.
Deliver First-Class Services to the Public and Our Customers
5.1 Maximize partner relationships and public outreach.
5.2 Be responsible stewards of the public’s resources
Summary:
Summary
The Defense Grant Agreement is between the State of Florida, Department of Commerce and the Pinellas County Government Board of County Commissioners. The grant will help fund consultant services for the development and execution of Request for Proposal for the redevelopment of the STAR Center. The $250,000.00 grant requires a $75,000.00 County match.
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Background Information:
STAR Center facilities and infrastructure originated in 1957. Redevelopment is necessary for the continued success of this industrial campus, and it will provide new facilities and infrastructure designed to retain existing and attract new targeted industry companies. The outcome of accepting the grant would be to provide financial and market research and agreement recommendations to guide the development of an RFP for a Development team to design, build, and manage the redevelopment of the STAR Center property.
The County will engage with Jones Lang LaSalle Americas, Inc. (JLL) to perform the Scope of Work in the Defense Grant Agreement. Authority for the County Administrator to sign any and all agreements and documentation with JLL is granted under Code Section 2-62 (a)(1).
Fiscal Impact:
Revenue in the amount of $250,000.00 to be paid to the County by the State of Florida Department of Commerce. The revenues and expense budgets for this cost reimbursement 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. 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).
Delegated Authority:
Authority for the County Administrator to sign this Agreement is granted under
Code Section 2-62 (a).
Staff Member Responsible:
Dr. Cynthia Johnson, Economic Development Director
Greg Concannon, Division Director, Economic Development
Partners:
State of Florida Department of Commerce
Attachments:
Defense Grant Agreement
JLL Proposal for Public-Private Partnership Advisory Services