Subject:
Title
Capital Project Funding Agreements with Tampa Bay Watch, Inc. for construction of the Tampa Bay Watch Discovery Center, and with Florida Holocaust Museum, Inc. for renovations to the Florida Holocaust Museum.
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Recommended Action:
Recommended Action
Approval of the Capital Project Funding Agreements with Tampa Bay Watch, Inc. (TB Watch) for construction of the Tampa Bay Watch Discovery Center and with Florida Holocaust Museum, Inc. (Museum) for renovations to the Florida Holocaust Museum.
• The Agreement with TB Watch is for $300,000.00 and supports construction of the Tampa Bay Watch Discovery Center at the new St. Pete Pier.
• The Agreement with the Museum is for $350,000.00 and supports renovations to the Florida Holocaust Museum including a new lobby entrance to address security concerns and ADA access, as well as a separate entrance for school groups.
• Each Agreement has been negotiated by staff to include tourism promotion benefits, which are detailed in Exhibit B.
• Payments through the Capital Project Funding Program are made on a reimbursement basis at project completion.
Authorize the Chairman to sign and the Clerk of the Circuit Court to attest.
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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
The agreements with TB Watch and the Museum provide support for eligible capital projects that have met the criteria defined in the Capital Projects Program Funding Guidelines (Guidelines). Each agreement includes tourism promotion benefits, which have been negotiated by the Convention and Visitors Bureau (CVB) to ensure a return on investment for the County. All contract reimbursements will be made at project completion, in accordance with the Guidelines.
Funding for TB Watch will be used for construction of the Discovery Center at the new St. Pete Pier. This agreement is in effect until October 30, 2020.
Funding for the Holocaust Museum will be used for renovations to the lobby entrance to address security concerns and ADA access and for construction of a new entrance for school groups. The agreement with the Museum is in effect until November 30, 2023.
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Background Information:
This is one of the programs administered by the CVB on behalf of the County. Consistent with the Guidelines approved by the Board of County Commissioners (Board) on August 7, 2018, the Board directed staff to move forward and negotiate the terms, conditions and final funding amounts of each CPFP agreement that is being presented today.
On November 12, 2019, the Board approved up to $20.6M in funding for three CPFP projects including The Salvador Dali Museum, St. Petersburg Museum of History and the Discovery Center. In order to be statutorily eligible for funding under the program, the Board made a legislative finding that the Discovery Center was a museum. Additionally, the Board approved a waiver to the Guidelines for the Discovery Center as to the room night and lease requirements and approved to fund the project for a total amount of up to $300K. Costs for the Discovery Center are estimated at $711,371.00. The City of St. Petersburg has agreed to provide $150K with the remainder coming from donations. The agreements for The Salvador Dali Museum and the St. Petersburg Museum are under negotiations and will be presented for approval at a later date.
In a separate action on February 11, 2020, outside the established Fiscal Year 2019 CPFP application period, the Board approved a waiver to the Guidelines for the Holocaust Museum as to the attendance and room night criteria and approved up to $350K in funding. The total cost of this renovation project is estimated at $1.8M. To date, the Museum has received a $500K award from the State of Florida and the City of St. Petersburg has agreed to match County funding on this project. Additional funding will come from private donations.
Fiscal Impact:
$300,000.00 Discovery Center
$350,000.00 Holocaust Museum
$650,000.00 Total Cost
Funding to support the Capital Project Funding Agreements in the total amount of $650,000.00 is provided through the Tourist Development Tax Fund. The Fiscal Year 2020 (FY20) Adopted Budget includes appropriation for the Holocaust Museum, but not the Discovery Center. Based on projected revenue and project timelines, it is anticipated that sufficient cash will be available in the Tourist Development Tax Fund to support each agreement on a reimbursement basis. However, due to projected revenue loss resulting from COVID-19, cash would not be sufficient to support full reimbursement of both projects during FY20 should the project timelines be accelerated.
Staff Member Responsible:
Steve Hayes, Director, Convention and Visitors Bureau
Partners:
Tourist Development Council
City of St. Petersburg
Attachments:
Capital Project Funding Agreements
Tampa Bay Watch Discovery Center
Florida Holocaust Museum
Capital Projects Funding Program Guidelines