Subject:
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Recommendation from the Tourist Development Council to fund five Fiscal Year 2024 Capital Projects Funding Program applications.
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Recommended Action:
Recommended Action
Approval of the Tourist Development Council’s (TDC) recommendation to fund five projects for a total of up to $24,785,000.00 through the Fiscal Year 2024 (FY) Capital Projects Funding Program (CPFP).
It is further recommended that staff be authorized to negotiate the terms and final funding amounts for increased return on investment.
• Convention and Visitors Bureau staff evaluated, scored, and recommended the following up to funding amounts to the TDC for five CPFP applications received during the FY24 application cycle:
o Eddie C. Moore Complex for up to $7,750,000.00.
o Clearwater Beach Municipal Marina for up to $7,350,000.00.
o Palladium Theater for up to $2,500,000.00.
o Clearwater Marine Aquarium for up to $6,050,000.00.
o Arts Center & Chihuly Collection for up to $1,135,000.00.
• Application received from the Dunedin History Museum, Inc. for repair and improvement to the clock tower was not scored as the project did not appear to meet the statutory requirements in order to be considered for funding.
• Application received from The Florida Orchestra Inc. for the construction and extension of the Mahaffey Theater was not scored since the property is leased from the City of St. Petersburg, and the application did not include a letter from the City in support of the project.
• Application received from the Dr. Carter G. Woodson African American Museum Inc. was withdrawn.
• Payments will be made on a reimbursement basis at the completion of each project unless authorized differently by the Board of County Commissioners (Board).
• Next step: Individual funding agreements will be brought to the Board for approval at future Board meetings.
• The approval of this agenda item does not create a fiscal obligation for the County. Individual agreements with each project applicant will need to be approved by the Board before funding is committed.
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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
Deliver First-Class Services to the Public and our Customers
5.2 Be responsible stewards of the public’s resources
Summary:
Summary
With Board approval, the CVB will proceed to negotiate funding and deliverables with approved projects to ensure a return on investment for the County. CPFP agreements will be brought to the Board for consideration at future meetings. Payments will be made on a reimbursement basis at the completion of each project unless authorized differently in the agreement by the Board.
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Background Information:
On September 27, 2023, the Board approved revisions to the CPFP Guidelines which, among other things, provided for staff review and submittal of funding recommendations to the TDC. The CVB opened the FY24 CPFP application cycle on February 21, 2024, with an advertised closing date of May 31, 2024. Eight applications were received for review with requests totaling $66,995,100.
On September 5, 2024, the Board granted conceptual approval for the application received from the Arts Center Association, Inc. dba Morean Arts Center to be reviewed and scored in accordance with the Guidelines for projects requesting over $10 million.
The applications received from the Dunedin History Museum, Inc. (Museum) and the Florida Orchestra Inc. (Orchestra) were deemed ineligible for funding. The Museum’s project involves repairing the clock tower which does not meet the statutory requirement for eligibility as a CPFP project. The Orchestra’s project involves construction and extension of the Mahaffey Theater which is leased from the City of St. Petersburg. Because the Orchestra’s application did not include a letter from the City in support of the project, it was also deemed ineligible for funding consideration.
The Woodson’s application was submitted for the Board’s consideration as to the CPFP Guideline threshold requirements for projects seeking more than $5 million but was subsequently withdrawn by the Woodson prior to the Board’s meeting on February 25, 2025.
On February 19, 2025, during a regular TDC meeting, staff presented funding recommendations for five eligible projects. Council Members Trisha Rodriguez and Mayor Rector were not in attendance. The TDC proceeded to vote on each project individually. Council Member Phil Henderson abstained from voting on the Clearwater Beach Municipal Marina due to a conflict of interest. Following discussion, the TDC approved staff’s recommendations for a maximum total funding of up-to $24,785,000 for the following eligible projects (in order of highest to lowest project score):
1. Eddie C. Moore Complex for up-to $7,750,000
2. Clearwater Beach Municipal Marina for up-to $7,350,000
3. Palladium Theater for up-to $2,500,000
4. Clearwater Marine Aquarium for up-to $6,050,000
5. Arts Center & Chihuly Collection for up-to $1,135,000
The CVB will bring the negotiated agreements to the Board for consideration at future meetings. Payments will be made on a reimbursement basis at the completion of each project unless authorized otherwise in the agreement.
Fiscal Impact:
$ 7,750,000 Eddie C. Moore Complex
$ 7,350,000 Clearwater Beach Municipal Marina
$ 2,500,000 Palladium Theater
$ 6,050,000 Clearwater Marine Aquarium
$ 1,135,000 Arts Center & Chihuly Collection
$24,785,000 Total Maximum (up-to) Funding
Funding to support the Capital Projects Funding Program is provided through the Tourist Development Tax. The source of funding is the Tourist Development Tax Fund.
Staff Member Responsible:
Brian Lowack, Director, Convention & Visitors Bureau
Partners:
Tourist Development Council
Attachments:
Capital Projects Funding Program TDC Presentation
Evaluation of Current Capital Projects - Final Report dated December 2024
CPFP Guidelines