Subject:
Title
Two Capital Project Funding Agreements with the City of Clearwater for renovations to the Clearwater Beach Municipal Marina and the Eddie C. Moore Complex.
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Recommended Action:
Recommended Action
Approval of the two Capital Project Funding Agreements with the City of Clearwater (City) for the replacement of the Clearwater Beach Municipal Marina (Marina) and for renovations to the Eddie C. Moore Complex (ECM Complex) that will increase the attraction of tourists, in accordance with the Tourist Development Taxes Capital Project Funding Program Guidelines.
• The agreements with the City support two Tourist Development Tax-funded capital projects:
o $7,850,000.00 for the replacement of the Marina.
o $7,750,000.00 for renovations to the ECM Complex.
• Convention and Visitors Bureau (CVB) staff negotiated the terms for a maximum return on investment for the County.
• Payment will be on a reimbursement basis at project completion.
• Tourist Development Council recommended five capital projects for funding on February 19, 2025, including renovation projects for the Marina and ECM Complex.
• Board of County Commissioners approved the five projects on March 25, 2025, for a total of up-to $26,400,000.00 in funding.
• Funding for replacement of the Marina is not budgeted in the CVB’s Fiscal Year 2026 Adopted Budget in the Tourist Development Tax Fund and may necessitate a budget amendment to realign funds set aside for Tourist Development Tax-funded capital projects, if the agreement is approved. There is lapse capital program funding available for Fiscal Year 2026 that may be sufficient for the Marina agreement.
• Funding for the renovations for the ECM Complex will be programmed in the Fiscal Year 2028 Proposed Budget.
Agreements for a combined total amount of $15,600,000.00 are effective for three years from the date of execution by the County. Completion of the Marina is estimated to be in August 2026 and the ECM Complex is estimated to be complete in January 2028. Authorize the Chairman to sign and the Clerk of the Circuit Court to attest.
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Strategic Priorities:
Prosperity and Opportunity
3.2 Provide and promote tourism opportunities
3.5 Foster business growth
Summary:
Summary
The agreements provide support for the replacement of the Marina and renovations to the ECM Complex. These projects have met the criteria defined in the Guidelines and include tourism promotion benefits negotiated by the CVB for maximum return on investment for the County.
In accordance with the Guidelines, payment will be made on a reimbursement basis at project completion. The Marina is estimated to be complete in August of 2026 and the ECM Complex in January of 2028.
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Background Information:
The Capital Project Funding Program is one of the programs administered by the CVB on behalf of the County that awards funding to eligible capital projects that have met the criteria as defined in the Guidelines.
On March 25, 2025, the Board approved a maximum of $26,400,000.00 in funding for five capital projects, including $7,850,000.00 for the replacement of the Marina, and $7,750,000.00 for renovations to the ECM Complex.
Tourism benefits include permanent signage, use of event space, collaboration on joint marketing campaigns, branding and content links, collaboration on media tours and more, as detailed in Exhibit B.
Completion of the Marina is estimated to be in August 2026 and the ECM Complex is estimated to be complete in January 2028.
Fiscal Impact:
Total costs: $15,600,000.
Funding for replacement of the Marina is not budgeted in the CVB’s Fiscal Year 2026 Adopted Budget in the Tourist Development Tax Fund and may necessitate a budget amendment if the agreement is approved. There is lapse capital program funding available for Fiscal Year 2026 that may be sufficient for the Marina agreement.
Funding for the renovations for the ECM Complex will be programmed in the Fiscal Year 2028 Proposed Budget.
Staff Member Responsible:
Brian Lowack, Director, Convention and Visitor’s Bureau
Partners:
Tourist Development Council
Attachments:
Capital Project Funding Agreements (2)
Capital Project Funding Program Guidelines