Subject:
Title
Amendment to realign Reserves-Future Years-Tourist Development-Beach Nourishment with Post Idalia Emergency Shore Stabilization to fund stabilization design and construction.
label
Recommended Action:
Recommended Action
Adopt the attached resolution realigning Reserves-Future Years-Tourist Development-Beach Nourishment with Capital Improvement Program (CIP) project Post Idalia Emergency Shore Stabilization, 006241A, in Fiscal Year (FY) 2024 for the purpose of funding the design and construction of the emergency project. Section 129.06(2)(C), F.S., provides for the reserve for future construction and improvements may be appropriated by resolution of the board for the purposes for which the reserve was made. The board at any time within a fiscal year may amend a budget for that year and may within the first 60 days of a fiscal year amend the budget for the prior fiscal year for this purpose.
• This resolution will realign $16,000,000 from Tourist Development Reserves within the Capital Projects Fund 3001 to CIP project Post Idalia Emergency Shore Stabilization, 006241A. This resolution will increase the total project allocation from the FY24 Adopted Budget amount of $21,000,000 to $37,000,000 to match the new project estimate.
• Tourist Development Reserves inside the Capital Projects fund had been set aside in the FY24 Adopted Budget for general beach renourishment. The Post Idalia Emergency Shore Stabilization project was one possible project for these reserves.
• There is no change in the overall total of the Capital Projects Fund 3001.
• CIP project Post Idalia Emergency Shore Stabilization, 006241A, was not a traditionally planned project. It consists of emergency control measures to protect shorelines that were most impacted by Hurricane Idalia. The project estimates have changed as the project has progressed.
• Public Works is working with the Florida Department of Environmental Protection to finalize a grant agreement for $15,000,000. This agreement is on this same December 12, 2023 Agenda (23-1861A). Approval of that agreement will reduce the amount of County funds used on this project. Regardless of the source of funds, the total project amount is recommended to increase from the FY24 Adopted Budget amount of $21,000,000 to $37,000,000 to match the new project estimate. Any County funds unspent at the end of the project will return to Capital Tourist Development Reserves.
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:
Summary
This attached resolution realigns reserve for future construction and improvements with the budget of a capital project for which the reserve was made, in FY24. Post Idalia Emergency Shore Stabilization, project 006241A, is not a traditionally planned project but was approved as an emergency project by the Pinellas County Board of County Commissioners during the Second Public Hearing for the FY24 Budget, September 19, 2023. A total amount of $21,000,000 was budgeted for FY24. The project was permitted to begin in FY23 due to budget availability in the Physical Environment budgetary control.
Body
Background Information:
The emergency project was approved on September 19, 2023 and included $9,000,000 of budget availability in FY23 funding and added $21,000,000 in FY24. The latest project estimate is $35,850,000.Pinellas County beaches were heavily eroded by Hurricane Idalia. The Post Idalia Emergency Shore Stabilization Project, CIP project 006241A, was established to design and construct emergency control measures that would protect shorelines that were most impacted by the hurricane. Emergency measures include temporary sand-filled erosion control structures and reconstructing dunes.
The emergency project was approved on September 19, 2023 along with a budget of $21,000,000 in FY24. This project was permitted to begin in FY23 due to budget availability in the Physical Environment budgetary control. The current project estimate is $37,000,000.
Fiscal Impact:
The FY24 Budget for Reserves-Future Years-Tourist Development-Beach Nourishment within the Capital Projects Fund 3001 is $26,430,000 and funded by the Tourist Development Tax.
The FY24 Budget for Post Idalia Emergency Shore Stabilization, 006241A, is $21,000,000, funded by the Tourist Development Tax.
Through this resolution $16,000,000 will be moved from Reserves-Future Years-Tourist Development-Beach Nourishment to project 006241A, resulting in an Amended FY24 Budget of $10,430,000 for the reserve account and an Amended FY24 Budget of $37,000,000 for Post Idalia Emergency Shore Stabilization, project 006241A. The latest project estimate is $35,850,000. There is no change in the overall total of the Capital Projects Fund 3001. The current project estimate is $37,000,000, which includes $4,524,000 that was spent in FY23.
Public Works is working with the Florida Department of Environmental Protection to finalize a grant agreement.
Staff Member Responsible:
Kristen Pittman, Budget and Financial Management Analyst, Office of Management and Budget
Chris Rose, Director, Office of Management and Budget
Partners:
Kelli Hammer Levy, Director, Public Works
Attachments:
Resolution
Resolution Back-up