Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - July 30, 2013
REVISED July 30, 2013 - Regular Meeting
Agenda Item #23

Interfund Loan Resolution R-13-118


Contact and/or Presenter Information
Contact Jan Brewer, Division Budget Manager, Ext 3726

Action Requested
Adoption of Resolution R-13-118

Enabling/Regulating Authority
Florida Statute 129

Background Discussion

The Board of County Commissioners approved moving ahead with the Blackstone Park ballfields on 9/11/2012.

There are currently not sufficient funds in the park impact fee fund for the project, so the plan was to be financed through an interfund loan from the General Fund.

Based on current rate and trend of the underlying impact fees, our current projection is that the impact fees will be sufficient to pay back the loan within thirty months.

Resolution R-13-118 authorizes an interfund loan of $2,500,000 to finance the county share of the project.  $800,000 has been contributed by the City of Palmetto.  If additional contributions for the project are received, the loan amount may be reduced.

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other

Reviewing Attorney

Instructions to Board Records

Signed copies of resolution to marjorie.lofts@mymanatee.org, lori.stephens@manateeclerk.com, susan.flowers@manateeclerk.com, robin.amos@manateeclerk.com, abby.lindecamp@manateeclerk.com, sheila.ballesteros@manateeclerk.com.

Cost and Funds Source Account Number and Name
General Fund Loan to Countywide Parks Impact Fee Fund

Amount and Frequency of Recurring Costs
$2,500,000 one time loan

Attachment:  R-13-118 Blackstone Park - borrow from GF.pdf