Subject:
Title
Application received from Dr. Carter G. Woodson African American Museum, Inc. d/b/a The Woodson African American Museum of Florida for consideration in accordance with the Capital Projects Funding Program Guidelines for Category D Projects.
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Recommended Action:
Recommended Action
Approval for the application from Dr. Carter G. Woodson African American Museum, Inc. d/b/a The Woodson African American Museum of Florida (Woodson Museum) to be evaluated in the Fiscal Year 2024 Capital Projects Funding Program (CPFP) funding cycle, in accordance with CPFP Guidelines for Category D Projects.
• The Woodson Museum submitted a CPFP application requesting $10 million to relocate and build a new two-story, 41,262 gross square foot facility. The total project cost is estimated to be $38,346,800.00.
• In accordance with CPFP Guidelines, projects that cannot satisfy all eligibility requirements shall first be presented to the Board of County Commissioners for approval to allow the applicant to participate in the funding cycle application process.
• The Woodson Museum appears to meet statutory requirements for funding; however, it does not meet the 25,000 annual room night threshold set forth in the Guidelines for requests exceeding $5 million.
• Over the next ten years, this project is estimated to bring the following economic impact to the County over and above the base operations:
o 74,800 in incremental room nights
o $79,001,000.00 in economic impact
o $1,042,800.00 in new Tourist Development Taxes
• CPFP Guidelines require the Woodson Museum to provide 1:1 matching funds, which consists of a $10 million contribution from the Hines Interests Limited Partnership.
• This action, by itself, has no fiscal impact.
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Strategic Plan:
Foster Continual Economic Growth and Vitality
4.6 Support a vibrant community with recreation, arts, and culture to attract residents and visitors
Summary:
Summary
The Woodson Museum is seeking $10 million in CPFP funding to support the relocation and development of its new museum in the Historic Gas Plant District as part of the district’s larger plans to construct a new stadium, affordable housing, hotels, offices, shops and restaurants. The total project cost is $38,346,800 and involves expanding the current 4,000 square feet to approximately 36,000 square feet (sf) of interior space that will accommodate two permanent collection galleries, a traveling exhibit gallery, and spaces for educational programs and community events. With development of its new museum, the Woodson Museum will be positioned as the premier museum for African American art, history, and culture in Florida and the Southeast. The funding request represents approximately 26% of the total project cost.
If the Board approves a waiver of the Guidelines as to the annual room night requirements, the Woodson Museum’s CPFP application will be evaluated along with the other applications received during the FY24 CPFP funding cycle and brought forward with a funding recommendation from the Tourist Development Council.
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Background Information:
The Woodson Museum is relocating their current facility and building a new 41,262 gross sf facility within the Historic Gas Plant District as part of the district’s larger plans to redevelop the area with a new stadium, affordable housing, hotels, offices, shops and restaurants. The total cost of this project is $38,346,800. The Woodson Museum is requesting $10 million, or approximately 26% in Tourist Development Tax funding through the CPFP to offset project costs.
In accordance with CPFP Guidelines, projects requesting above $5 million must meet a 25,000 annual room night threshold to be eligible for funding. If the Board approves a waiver of the Guidelines as to this criteria, the application from the Woodson Museum will be evaluated along with other CPFP applications received. Following the evaluation process, staff will present funding recommendations to the TDC for discussion. The Board will have the opportunity to consider the TDC’s funding recommendations and final negotiated CPFP agreements at future meetings.
Over the next ten years, the Woodson Museum is projected to bring the following economic impact tot the County over and above current base operations:
o 74,800 incremental room nights
o $79,001,000 in economic impact
o $1,042,800 in new Tourist Development Taxes
In addition to the economic impact above, the Woodson Museum has proposed marketing deliverables which if approved, will be reviewed and negotiated by staff for the highest return on investment.
CPFP Guidelines require Category D applicants such as the Woodson Museum to provide 1:1 matching funds. In its application, the Woodson Museum met this criteria with a $10 million contribution from the Hines Interests Limited Partnership.
Fiscal Impact:
This action in itself has no fiscal impact.
Funding to support Capital Project Funding Program is provided through the Tourist Development Tax Fund.
Staff Member Responsible:
Brian Lowack, Director, Convention and Visitors Bureau
Partners:
Tourist Development Council
Attachments:
Capital Projects Funding Program
Application
Guidelines