6.c.
FPRA Regular Meeting Agenda
- Meeting Date:
- 07/15/2019
- Re
- Tax Credits
- Submitted For:
- Nick Mimms
SUBJECT:
Tax Credit sales proceeds distribution to the Fort Pierce Utilities Authority
SUMMARY:
The Fort Pierce Redevelopment Agency and the Fort Pierce Utilities Authority have completed the environmental cleanup of the H.D. King Plant site to meet Florida Department of Environmental Protection standards for residential occupancy. This task was collaboratively accomplished by partnering with the Treasure Coast Regional Planning Council for the acquisition of loan funding for project completion.
The attached documentation includes a typical FPRA resolution denoting the eligibility of excess funds to be distributed to the FPUA upon project completion, and a summary of tax credit expenditures with amount eligible for disbursement to FPUA.
The attached documentation includes a typical FPRA resolution denoting the eligibility of excess funds to be distributed to the FPUA upon project completion, and a summary of tax credit expenditures with amount eligible for disbursement to FPUA.
RECOMMENDATION:
Staff recommends approval.
ALTERNATIVES:
Staff will proceed as directed by the City Commission.
RESPONSIBLE STAFF:
Nicholas C. Mimms, City Manager
COORDINATED WITH:
Johnna Morris, Director of Finance
Fiscal Impact
OTHER INFORMATION:
No fiscal impact at this time.
Attachments
- Summary of Tax Credit Expenditures
- Typical FPRA King Plant Cleanup Resolution
- TCRPC Payments
- Fallbrook Wire