Finance Committee

City of Jacksonville 117 W. Duval Street Jacksonville, FL 32202 Agenda - Revised Marked Tuesday, November 1, 2022 9:30 AM Council Chamber, 1st Floor, City Hall Finance Committee Aaron Bowman, Chair Randy White, Vice Chair Matt Carlucci Kevin Carrico Joyce Morgan Ju’Coby Pittman Ron Salem Legislative Assistant: Barbara Ireland Hobson Council Auditor's Office: Kim Taylor, Council Auditor Council Auditor's Office: Phillip Peterson, Asst. Council Auditor Council Research: Jeff Clements, Chief of Research Office of General Counsel: Paige Johnston, Chief Administration: Rachel Zimmer Finance Committee Agenda - Revised Marked November 1, 2022 Meeting Convened: Meeting Adjourned: Attendance: Council Auditor Kim Taylor to discuss: • Report #781B: Follow-up on Animal Care and Protective Services Audit • Report #751C: Follow-up on Fire and Rescue Department – Ambulance Billing and Inventory Audit Item/File No. Title History 1. 2022-0416 ORD Reapprop $94,875,967.35 from CIPs that have been Certified Complete DEFER by the Director of Public Works & Closed, Their Residual Balances Returned to the Source or Sources of Origin, & Placed in a Contingency Account, At request of Transferring $38,920,804.62 btwn Expense Accounts Among Various Projs the Administration within the Better Jax Plan Fund to Complete Outstanding Projs as Described in the Work Plan, & Auth Borrowing from the City’s Commercial Paper Facility &/or Issuance of Fixed-Rate Debt in the Cumulative, Not-To-Exceed Amt of $85,063,552.37 & Approp Thereof to Prov Funds for Capital Improvements; Amend 2021-504-E, the FY 2021 Budget Ord, to Replace 4th Revised Scheduled B4, the FY 2021-2022 Debt Management Fund Detail, & Revised Scheduled B4b, the FY 2021-2022 Capital Improvements Projs Funded Via Borrowing, to Auth the Borrowing &/or the Issuance of Fixed-Rate Debt for the Projs as set Forth in the Better Jax Work Plan; Amend the 2022-2026 5-Yr Capital Improvement Prog Apv’d by Ord 2021-505-E; Prov for City Oversight by the Dept of Public Works (Sawyer) (Introduced by CP at Req of Mayor) 5/24/22 CO Introduced: TEU, F 6/6/22 TEU Read 2nd & Rerefer 6/7/22 F Read 2nd & Rerefer 6/14/22 CO PH Read 2nd & Rerefer: TEU, F Public Hearing Pursuant to Chapt 166, F.S. & C.R. 3.601- 6/14/22 Page 1 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 2. 2022-0447 ORD Adopting 2021B Series Text Amend to FLUE of 2030 Comp Plan, Contact: Creating a New FLUE Policy 3.1.29 to Allow one Accessory Dwelling Unit as CM Diamond an Accessory Use on Conforming Residential Lots in the AGR, RR, LDR, MDR & RPI Future Land Use Categories (Reed) (LUZ) (PD & PC Apv) (GAB CPAC Deny) (MC Amd 2022-448) 6/14/22 CO Introduced: LUZ 6/22/22 LUZ Read 2nd & Rerefer 6/28/22 CO Read 2nd & Rerefer: LUZ 7/26/22 CO PH Addnt'l 8/9/22 8/2/22 LUZ PH Approve 5-0 8/9/22 CO PH Cont'd & Rereferred to NCSPHS, R, F, LUZ 8/24/22 CO PH Cont'd 9/27/22 9/27/22 CO PH Cont'd 10/11/22 10/11/22 CO PH Cont'd 10/25/22 10/25/22 CO PH Cont'd 11/9/22 10/31/22 NCSPHS Approve 4-2 (Ferraro & Salem) 10/31/22 R Approve 6-1 (Ferraro) LUZ PH – 8/2/22 & 9/20/22,10/4/22, 10/18/22, 11/1/22 Public Hearing Pursuant to Sec 163.3184(3), F.S. & Chapt 650, Pt 4, Ord Code - 7/26/22 & 8/9/22, 8/24/22, 9/27/22, 10/11/22, 10/25/22, 11/9/22 3. 2022-0448 ORD-MC Amend Sec 656.403 (Accessory Uses & Structures), Subpt B NCSPHS (Miscellaneous Regulations), Pt 4 (Supplementary Regulations), Chapt 656 AMEND (Zoning Code), Ord Code, to Allow Accessory Dwelling units as an Accessory Use in Residential Land Use Categories Subj to Certain Criteria; Prov for Contact: Codification Instructns (Staffopoulos) (Introduced by CMs Diamond, Boylan, CM Diamond Dennis, R. Gaffney & White) (Co-Sponsors CMs Carrico & Clark-Murray)(PD & PC Apv) (GAB CPAC Deny) (Text Amd 2022-447) 6/14/22 CO Introduced: LUZ 6/22/22 LUZ Read 2nd & Rerefer 6/28/22 CO Read 2nd & Rerefer: LUZ 7/26/22 CO PH Addnt'l 8/9/22 8/2/22 LUZ PH Amend/Approve 5-0 8/9/22 CO PH Cont'd & Rereferred to NCSPHS, R, F, LUZ 8/24/22 CO PH Cont'd 9/27/22 9/27/22 CO PH Cont'd 10/11/22 10/11/22 CO PH Cont'd 10/25/22 10/25/22 CO PH Cont'd 11/9/22 10/31/22 NCSPHS Amend/Approve 4-2 (Ferraro & Salem) 10/31/22 R Amend/Approve 6-1 (Ferraro) LUZ PH – 8/2/22 & 9/20/22, 10/4/22, 10/18/22, 11/1/22 Public Hearing Pursuant to Chapt 166.041(3)(c)(2), F.S. & C.R. 3.601- 7/26/22 & 8/9/22, 8/24/22, 9/27/22, 10/11/22, 10/25/22, 11/9/22 Page 2 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 NCSPHS AMENDMENT 1. Strike references in Ordinance Code to Detached Accessory Dwelling Units 2. Clarify that ADUs must be located on property that has either been granted or applied for a homestead exemption 3. Clarify that ADUs can be detached or attached, but must be physically separated if attached 4. 2022-0575 ORD Approp $279,973.00 in Fund Bal Derived from Investment Pool Earnings DEFER ($102,241.23 from FY 19-20 & $177,731.81 from FY 20-21) Within the Northbank CRA Trust Fund to Future Yr Debt Reduction (B.T. 22-094) At request of (Staffopoulos) (Introduced by CP at Req of Mayor) DIA 7/26/22 CO Introduced: NCSPHS, F 8/1/22 NCSPHS Read 2nd & Rerefer 8/2/22 F Read 2nd & Rerefer 8/9/22 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Chapt 166, F.S. & C.R. 3.601- 8/9/22 5. 2022-0576 ORD Approp $44,363.00 in Fund Bal Derived from FY 20-21 Investment Pool DEFER Earnings Within the Southbank CRA Trust Fund to Future Yr Debt Reduction (B.T. 22-093) (Staffopoulos) (Introduce by CP at Req of Mayor) At request of 7/26/22 CO Introduced: NCSPHS, F DIA 8/1/22 NCSPHS Read 2nd & Rerefer 8/2/22 F Read 2nd & Rerefer 8/9/22 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Chapt 166, F.S. & C.R. 3.601- 8/9/22 6. 2022-0730 ORD-MC Amending Title VI (Business Trades & Organizations), Ch 250 WITHDRAW (Miscellaneous Business Regulations), Pt 13 (Prohibition of Simulated Gambling Devices); Amending the Title of Pt 13; Revising Secs 250.1301 At request of Through Sec 250.1309; Adding a Definition for “Casino Gambling”, CM DeFoor Expanding the Area of Enforcement Unless Excluded; Adding Prohibitions; Adding Exemptions; Providing for Enforcement; Providing Amendment Restrictions; Including Severability & Codification Language (Bowles) (Introduced by CM DeFoor)(Co-Sponsor CM Carlucci) 9/27/22 CO Introduced: NCSPHS, R 10/3/22 NCSPHS Read 2nd & Rerefer 10/3/22 R Read 2nd & Rerefer 10/11/22 CO PH Read 2nd & Rerefer to NCSPHS, R, F, LUZ 10/31/22 NCSPHS Withdraw 6-0 10/31/22 R Withdraw 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/11/22 Page 3 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 7. 2022-0763 ORD Apv & Auth the Mayor, or His Designee, & Corp Sec to Execute a DEFER Discounted Payoff Agrmt (the “Agreement”), btwn the City & W.A. Knight Building Development, L.L.C., to Auth the Acceptance of $323,083.30 as At request of Payment in Full for a Loan in the Original Principal Amt of $300,000.00 made DIA Pursuant to Terms of that Certain Redev Agrmt Dated 3/21/2000, as Amended by that Certain 1st Amendmnt to Redev Agrmt Dated 8/3/2001; Providing for Loan Repayments to be Deposited Into the Downtown Economic Dev Fund (Dillard) (Introduced by CP at Request of Downtown Investment Authority) 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 8. 2022-0764 ORD Approp $7,000,000.00 from the Tree Protection & Related Expenses DEFER Trust Fund, Fund 15304, to the “630-City Tree Planting Prog,” “Remove & Replace Tree Planting Prog,” & “Level 3 Tree Planting Program,” to Provide At request of Tree Planting Administered by Public Works on Public Propty; Apv, & Req the CVP Salem Mayor, or His Designee, to Direct Public Works to Continue to Administer the Progs in Accordance with the Criteria Herein Provided; Providing a Carryover of Funds Into Subsequent FYs (Grandin) (Introduced by CM Salem) 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 9. 2022-0765 ORD-MC Amend Sec 106.110 (City Council Strategic Plan), Pt 1 (General Contact: Provisions), Ch 106 (Budget & Accounting Code), Ord Code, to Include CM Bowman Submission of Council Strategic Plan Funding Requests to the Administration in Advance of Mayor’s Final Annual Budget Proposal (Johnston) (Introduce by CM Bowman) 10/11/22 CO Introduced: F 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 • Sets a date of no later than February 15 of each year for submittal to the Administration of the Council's funding requests for each component of the City Council Strategic Plan • The strategic plan request shall be no more than 0.50% of the current year's annual operating budget (FY 22/23 operating budget is $1.54 billion = $7.7 million strategic plan request) Page 4 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 10. 2022-0767 ORD Declaring ±2.68 Acres of Real Propty Owned by the City in Council Dist Scrivener's 2 (Portion of R.E. # 161285-0030) to be Surplus to the Needs of the City; Apv & Auth the Mayor or His Designee & Corp Sec to Execute all Deeds & Closing Contact: Docs Relating Thereto & Otherwise Take all Necessary Action to Effectuate the CM Ferraro Purposes of this Ord to Sell the City Propty, Having an Appraised Value of $90,000.00 to Daniel Zeilermeir, as an Adjacent Propty Owner; Waiving Sec 122.424 (Disposition by Direct Sale), Ord Code; Providing for a Use Restriction for the Propty; Providing for Oversight of the Land Conveyance Docs by Public Works (Portion of R. E. # 161285-0030) (Dist 2-Ferraro) (Johnston) (Introduced by CM Ferraro) 10/11/22 CO Introduced: NCSPHS, R, F, TEU 10/17/22 NCSPHS Read 2nd & Rerefer 10/17/22 R Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/18/22 TEU Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Approve 6-0 10/31/22 R Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 Scrivener’s Pg. 1, line 24: strike “approximately a” and insert “an approximately” • Waives Code Sec. 122.424 (Disposition by Direct Sale) in order to convey the subject property to an adjacent property owner without receiving bids from all adjacent property owners. 11. 2022-0768 ORD Approp $575,000.00, Including $431,250.00 in Grant Funding Awarded Contact: by the U.S. Dept of Homeland Security Through Its FY 22 Port Security Grant Todd Smith Prog & a $143,750.00 City Match, to Purchase 1 37’ Aluminum, Open-Ocean & Inshore, CBRNE Capable Fire Suppression Hazmat Response Boat; Providing for Oversight by JFRD (B.T. 23-010) (Staffopoulos) (Introduced by CP at Req of Mayor) 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 • City match of $143,750 is funded from the General Fund-GSD fund balance Page 5 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 12. 2022-0769 ORD Approp $394,136.00 in Grant Funding for Yr 2 of a 5-Yr Grant from the AMEND Dept of Health & Human Svcs for the Duval County Adult Drug Court Prog; Providing for a Carryover of Funds to Subsequent FYs (B.T. 23-006) Contact: (Staffopoulos) (Introduced by CP at Req of Mayor) Teri Hamlyn 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 AMENDMENT 1. Correct name of program to Duval County Family Treatment Drug Court Enhancement 2. Attached revised Exhibit 1 (BT) to correct name of program 13. 2022-0770 ORD Approp $394,136.00 in Grant Funding for Yr 4 of a 5-Yr Grant from the AMEND Dept of Health & Human Svcs for the Duval County Adult Drug Court Prog; Providing for Carryover of Funds to Subsequent FYs (B.T. 23-007) Contact: (Staffopoulos) (Introduced by CP at Req of Mayor) Teri Hamlyn 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 AMENDMENT 1. Correct name of program to Duval County Family Treatment Drug Court Enhancement 2. Attached revised Exhibit 1 (BT) to correct name of program 14. 2022-0771 ORD Approp $385,769.99, Including an ARP Act Grant in the Amt of AMEND $332,229.55 Awarded by the U.S. Dept of Health & Human Services & Distributed by Northeast Florida Area Agency on Aging, Inc., D/B/A Contact: ElderSource, & a $53,540.44 City Match from General Fund Operating Fund Daryl Joseph Balance, for the Jacksonville Senior Services Prog; Providing for Oversight & Reporting by the Senior Svcs Div of Parks, Rec & Community Svcs Dept (B.T. 22-102) (Staffopoulos) (Introduced by CP at Req of Mayor) 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 Page 6 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 AMENDMENT 1. Increase City match to $83,057.39 (or 25%) to meet terms of agreement 2. Attach Revised Exhibit 1 (BT) to reflect increased City match ($29,516.95 increase) 3. Revise On File with updated Agreement to include revised budget (First Amendment) 4. Correct Scrivener’s • Funding will be used to provide supportive services, nutrition services, crisis assistance, and preventive health services to family caregivers giving preference to individuals age 60 and older • City match is funded from the General Fund-GSD fund balance 15. 2022-0772 ORD Approp $268,355.00 ($203,846.00 in Grant Funds from AmeriCorps AMEND Seniors, F/K/A the Corporation for National & Community Service, & a $64,509.00 Match from the City from General Fund Operating Fund Balance) Contact: for the Duval County Senior Companion Prog; Auth Position & PT Hrs; Daryl Joseph Providing for City Oversight by the Senior Svcs Div of Parks, Rec & Community Svcs Dept (B.T 22-111) (R.C. 22-169) (Staffopoulos) (Introduced by CP at Req of Mayor) 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 AMENDMENT Attach revised Exhibit 1 (BT) to reflect correct appropriation amount • City match of $64,509 is funded from the General Fund-GSD fund balance 16. 2022-0774 ORD Approp $857,148.42 from the McCoys Creek Leland St Bridge Removal Contact: Proj to the McCoys Creek Channel Improvements/Restoration Proj to Pay for Robin Smith Construction Engineering & Inspection Svcs for the Proj; Amend the 2023-2027 5-Yr CIP Appvd Ord 2022-505-E to Reflect This Approp of Funds 2/3 vote to the Proj (B.T. 22-117) (Staffopoulos) (Introduced by CP at Req of Mayor) required by 10/11/22 CO Introduced: NCSPHS, F, TEU Council 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/18/22 TEU Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 Page 7 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 17. 2022-0775 ORD Approp $101,783.96 of Revenue Received as Part of the Metropolitan AMEND Parking Solutions, LLC (“MPS”) Settlement to the Downtown Northbank CRA Trust Fund Misc Settlements Operating Acct to be Used for Operational Contact: Expenses for the Courthouse, Adams St & Sports Complex Parking Garages, Lori Boyer De-Approp a Total of $1,023,289.55 of Debt Mgmt Judgements, Claims & Settlements Expenses Budget Originally Approp by Ord 2022-137-E, Reducing Revenue Received for the Downtown Northbank CRA Long Term Debt Issued – Debt Mgmt Fund Proceeds Acct by $5,023,289.55 & Reducing Revenue Received for the Downtown Northbank CRA Trust Fund Misc Settlements Acct by $121,089.73 to Reflect Actual MPS Settlement Funds Received & Approp of Revenue to the Courthouse, Adams St & Sports Complex Garages, & Increasing Revenue Received for the Downtown Northbank CRA Trust Fund Misc Settlements Acct by $3,878,910.37, & Reducing Long Term Debt Issued Revenue & Loans Expense Within the Debt Mgmt Fund by $4,817,599.46; Amend the Rev Schedule B4 to Ord 2022-504-E (B.T. 22-121) (Staffopoulos) (Introduced by CP at Req of Mayor) 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 AMENDMENT 1. Correct amounts and accounts within bill title, explanation of appropriation, and purpose section to reflect revised BT 2. Revise fiscal year of appropriation to 2021-2022 3. Attach revised Exhibit 1 (BT) to correct amounts and account information 4. Attach revised Exhibit 2 (Second Revised Budget Ordinance Schedule B4) to correct the borrowing amount for the MPS Settlement • Revises the revenues and expenditures previously appropriated within the Northbank CRA by Ord. 2022-137-E for the MPS Settlement to reflect actual amounts • The City actually received $4,680,694.33 in settlement revenue from MPS, which was $3,980,694.33 more than originally budgeted • The amount required to pay off the existing bond debt was $1,023,289.55 less than originally budgeted • The net impact of the budget adjustments is 1) a decrease in City borrowing of $5,023,289.55, 2) a decrease in leasehold improvements expenses of $121,089.73, and 3) an increase of $101,784.06 in operating expenses for the Courthouse, Adams Street, and Sports Complex Garages Page 8 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 18. 2022-0776 ORD Approp $8,624,320 from the General Fund – GSD – JXSF Citywide – AMEND Other General Fund Governmental Srvcs to Downtown Economic Dev Fund to Fund the Downtown Preservation & Revitalization Prog Loans to JWB Real Contact: Estate Capital, LLC, as Previously Auth by Ord 2021-332-E (B.T. 23-009) Steve Kelley (Sawyer) (Introduced by CP at Req of Mayor) 10/11/22 CO Introduced: NCSPHS, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Amend/Approve 4-0-1 (Salem) Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 AMENDMENT 1. Clarify funding source is General Fund-GSD fund balance 2. Include reversion of funds language • Appropriates $8,624,320 from General Fund- GSD Fund Balance for Downtown Preservation and Revitalization Loans authorized by Ord. 2021-332-E for the redevelopment of the former Baptist Convention and Federal Reserve buildings 19. 2022-0777 ORD Declaring 4.75± Acres of Real Propty Owned by the City, in Council Dist AMEND 5 (R.E. #147279-0000) to be Surplus to the Needs of the City; Apv & Auth the Mayor or His Designee & Corp Sec to Execute a Purchase & Sale Agrmt btwn Contact: City & Larsen Oaks, LLC & to Execute All Deeds & Closing Docs Relating CM Cumber Thereto & Otherwise Take All Necessary Action to Effectuate the Purposes of This Ord to Convey the City Propty for a Purchase Price of $675,000.00 Less the Remediation Credit of $652,862.89 ($22,237.11) to Larsen Oaks, LLC, an Adjacent Propty Owner, Who Will Perform Required Remediation on its Propty for the Remediation Credit; Waiving Sec 122.424 (Disposition by Direct Sale), Ord Code; Providing Proviso Regarding Compliance with FDEP Requirements; Providing for Oversight of the Land Conveyance Docs by Public Works (Johnston) (Introduced by CM Cumber) 10/11/22 CO Introduced: NCSPHS, R, F, TEU 10/17/22 NCSPHS Read 2nd & Rerefer 10/17/22 R Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/18/22 TEU Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Amend/Approve 5-0 10/31/22 R Amend/Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 Page 9 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 AMENDMENT 1. Reflect that adjacent property is owned by an affiliate of Larsen Oaks LLC (Buyer) 2. Correct Scrivener’s errors • City Property located in District 5 consisting of a remediated portion of the former Southside Incinerator site is proposed to be disposed of in exchange for 1) $22,137.11 and 2) performance of required remediation activity on adjacent property with an estimated cost of $652,862.89 • Waives Section 122.424 (Disposition by Direct Sale) in order to convey the subject property to an adjacent property owner without receiving bids from all adjacent property owners 20. 2022-0784 ORD Making Certain Findings, & Auth the Mayor, or His Designee, to AMEND Execute: (1) an Economic Dev Agrmt btwn COJ & the Vestcor Companies, Inc.; & (2) Loan Docs & Related Docs as Described in the Agrmt, to Support Contact: the Dev by Company an 12± Acre Site at 8300 Merrill Rd in the City of Jax Kirk Wendland (“Project”); Auth a Dev Loan in the Amt of $5,000,000 with a Term of 17 Yrs in Connection with the Proj, to be Approp by Subsequent Legislation; Desig the OED as Contract Monitor for the Agrmt & Related Agrmts; Providing for City Oversight of the Proj by OED; Auth the Execution of All Docs Relating to the Above Agrmts & Transactions, & Auth Tech Changes to the Docs; Providing a Deadline for the Company to Execute the Agrmt After They are Delivered to the Company; Waiver of that Portion of the Public Investment Policy Adopted by Ord 2022-372-E, as Amended, to Auth a Dev loan That is Not Currently Auth by the Public Investment Policy (Sawyer) (Introduced by CP at Req of Mayor) 10/11/22 CO Introduced: NCSPHS, R, F 10/17/22 NCSPHS Read 2nd & Rerefer 10/17/22 R Read 2nd & Rerefer 10/18/22 F Read 2nd & Rerefer 10/25/22 CO PH Read 2nd & Rerefer 10/31/22 NCSPHS Amend/Approve 4-1 (Salem) 10/31/22 R Amend/Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 10/25/22 Page 10 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 AMENDMENT 1. Correct scrivener’s errors 2. Place revised Economic Development Agreement on file to: a. Include definition of General Partner b. Include definition of cash on cash return calculation and developer equity c. Clarify default language for failing to submit required reports d. Correct force majeure language e. Correct scrivener’s errors • Authorizes a $5 million Development Loan to The Vestcor Companies Inc. for construction of a 240-unit apartment community located at 8300 Merrill Road • The Development Loan will have a 17-year term with 1% interest per year with interest-only payments through maturity and a balloon principal payment at the end of the term • The loan can be repaid in full or in part at any time with no penalty • If the project no longer qualifies as affordable housing during the term of the loan, the loan will become due and payable to the City • The Developer is required to provide audits of the project annually and if the General Partner’s cash on cash return exceeds 10% in any year, the excess will be paid to the City and used to reduce the principal balance of the loan • OED has estimated an ROI of 2.25 based on a 17-year term • Waives the Public Investment Policy to authorize a Development Loan, which is not an authorized incentive under the policy NOTE: Bill 2022-713 is a rezoning of the subject property upon which this development is proposed. The bill is scheduled to be heard in LUZ on 11/1/22. 21. 2022-0794 ORD Approp $1,000,000.00 from Fund Bal from the Gen Fund/Gen Svcs Dist 2nd to City Council Staff Svcs - Other Costs - Legislative Professional Svcs Within the City Council’s Budget for the Possible Future Procurement of Special Legislative Counsel for the City Council on the Issues of Redistricting Litigation & Legislative Redistricting Process; Providing for a Carryover of Funds into FY 23-24 (Johnston) (Introduced by CM Priestly Jackson) 10/25/22 CO Introduced: R, F 10/31/22 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 11/9/22 Page 11 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 22. 2022-0797 ORD Auth the Mayor, or His Designee, to Execute: (1) An Amended & 2nd Restated Redev Agrmt btwn the COJ & Springfield Lofts, LLC; & (2) Loan Docs & Related Docs as Described in the Agrmt, to Support the Redev by Developer an 2.12± Acre Site at 1341 Pearl St, 235 W 3rd St & 205 W 3rd St, in the COJ; Auth a Redev Completion Grant in the Amt of $1,500,000 to the Developer Upon Substantial Completion of the Proj, to be Approp by Subsequent Legislation; Auth a Dev Loan in the Amt of $1,500,000 With a Term of 20 Yrs in Connection With the Proj, to be Approp by Subsequent Legislation; Desig the OED as Contract Monitor for the Agrmt & Related Agrmts; Providing for City Oversight of the Proj by Public Works & the OED; Auth the Execution of All Docs Relating to the Above Agmts & Transactions; & Auth Tech Changes to the Docs; Waiver of That Portion of the Public Investment Policy Adopted by Ord 2022-372-E, As Amended, to Auth a Redev Completion Grant & a Dev Loan That are Not Currently Auth by the Public Investment Policy (Sawyer) (Introduced by CP at Req of Mayor) 10/25/22 CO Introduced: R, F 10/31/22 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 11/9/22 23. 2022-0815 RESO Upon an Acknowledgement of Due Auth & the Making of Findings, 2nd Apv the Issuance By the JHFA of Its Homeowner Mortgage Rev Bonds, in 1 or More Series, in an Aggregate Face Amt Not to Exceed $100,000,000 for the Purpose of Purchasing Mortgage Loans Originated by Participating Local Lending Institutions to Finance the Purchase or Rehab of New or Existing Owner-Occupied Residences Situated in Duval County, FL or Purchasing Securities Guaranteed by the Federal Gov’t or Agencies Thereof or For the Purpose of Refunding Outstanding Bonds of the JHFA Previously Issued for Such Purpose; Requesting the Introduction of a Reso of the Council of the COJ, FL Apv the Issuance of the Bonds; Auth the Submission of a Request for a Private Activity Bond Volume Cap Allocation; Determining Credit Not Being Pledged (Hodges) (Introduced by CP at Req of JHFA) 10/25/22 CO Introduced: NCSPHS, F 10/31/22 NCSPHS Read 2nd & Rerefer Page 12 of 13 Finance Committee Agenda - Revised Marked November 1, 2022 24. 2022-0816 RESO Upon an Acknowledgement of Due Auth & the Making of Findings, 2nd Apv the Issuance by the JHFA of Its Multifamily Housing Rev Bonds (Sulzbacher Enterprise Village), Series 2023, in an Aggregate Principal Amt Not to Exceed $16,000,000 for the Purpose of Financing All or a Portion of the Costs Related to the Acquisition & Construction of a Multifamily Residential Housing Facility for Persons or Families of Low, Middle or Moderate Income, to be Located at Walgreen Rd, 2,800 Ft N of the Intersection of Golfair Blvd & Walgreen Rd, Jax, Duval County, FL, & to be Commonly Known as “Sulzbacher Enterprise Village”; Determining Credit Not Being Pledged (Hodges) (Introduced by CP at Req of JHFA) 10/25/22 CO Introduced: NCSPHS, F 10/31/22 NCSPHS Read 2nd & Rerefer NOTE: The next regular meeting will be held Tuesday, November 15, 2022. *****Note: Items may be added at the discretion of the Chair.***** Pursuant to the American with Disabilities Act, accommodations for persons with disabilities are available upon request. Please allow 1-2 business days notification to process; last minute requests will be accepted; but may not be possible to fulfill. Please contact Disabled Services Division at: V 904-255-5466, TTY-904-255-5476, or email your request to KaraT@coj.net. Page 13 of 13