Finance Committee

City of Jacksonville 117 W. Duval Street Jacksonville, FL 32202 Agenda - Revised Marked Wednesday, February 22, 2023 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: Mary Staffopoulos, Deputy Administration: Rachel Zimmer Finance Committee Agenda - Revised Marked February 22, 2023 Meeting Convened: Meeting Adjourned: Attendance: Council Strategic Plan Initiatives for FY 2023/24 Council Auditor Kim Taylor to discuss Report #795B: Police and Fire Pension Fund Bank Account Audit Follow-up Item/File No. Title History 1. 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 2. 2022-0797 ORD Auth the Mayor, or His Designee, to Execute: (1) An Amended & DEFER Restated Redev Agrmt btwn the COJ & Springfield Lofts, LLC; & (2) Loan Docs & Related Docs as Described in the Agrmt, to Support the Redev by At request of Developer an 2.12± Acre Site at 1341 Pearl St, 235 W 3rd St & 205 W 3rd St, OED 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 11/1/22 F Read 2nd & Rerefer 11/9/22 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 – 11/9/22 Page 1 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 3. 2022-0909 ORD-MC Amend Ch 655 (Concurrency and Mobility Management System), Pt AMEND 1 (General Provisions), Sec 655.102 (Purpose & Declaration of Public Policy), Sec 655.103 (Legislative Findings & Intent), Sec 655.105 (Definitions), Sec Contact: 655.106 (Concurrency & Mobility Management System Office (CMMSO)), Sec Bill Killingsworth/ 655.107 (Levels of Service & Performance Standards), Sec 655.108 (De Susan Grandin Minimis Development), Sec 655.109 (Exemptions; Vested Rights; Permits or Approvals Conferring Vested Rights; Common Law Vested Rights), Sec 655.111 (Concurrency Reservation Certificate Application Process & Review Procedures), Sec 655.112 (Minimum Requirements for CCAS or CRC Approval), Sec 655.114 (Appeals), Sec 655.116 (Schedule of Fees), & Sec 655.122 (Concurrency & Mobility Management System Handbook), Ord Code, to Update the Nomenclature Generated From Amdts to Pt 5, Ch 655, & Adding Definitions; Amend Ch 655 (Concurrency & Mobility Management System), Pt 2 (Jacksonville Development Agreement Regulations), Sec 655.201 (Purpose & Declaration of Public Policy), Sec 655.204 (Definitions), Sec 655.205 (General Requirements), Sec 655.208 (Schedule of Fees), & Sec 655.215 (Existing CRC & CCAS Not Subject to a Development Agreement), Ord Code, to Update the Nomenclature Generated From Amdts to Pt 5, Ch 655; Amend Ch 655 (Concurrency & Mobility Management System), Pt 3 (Fair Share Assessment Procedures), Sec 655.301 (Existing Valid Fair Share Contracts), & Sec 655.309 (Existing CRC & CCAS Not Subject to Fair Share Contract), Ord Code, to Update the Nomenclature Generated From Amdts to Pt 5 Ch 655; Repealing & Reserving Sec 655.302 (Extension of Fair Share Assessment Contracts), Pt 3 (Fair Share Assessment Procedures), Ch 655 (Concurrency & Mobility Management System), Ord Code, in its Entirety; Amend Ch 655 (Concurrency & Mobility Management System), Pt 4 (Public School Concurrency), Sec 655.401 (Purpose & Declaration of Public Policy), Sec 655.404 (Applicability & Exemptions), & Sec 655.406 (Concurrency Service Areas Defined), Ord Code, to Update the Nomenclature Generated From Amdts to Pt 5, Ch 655 & Replace the Three Poor Quality Maps Depicting the Concurrency Srvc Areas With Better Quality Color Maps; Amend Ch 655 (Concurrency & Mobility Management System), Pt 5 (Mobility Fee), Sec 655.501 (Purpose & Declaration of Public Policy), Sec 655.502 (Definitions), Sec 655.503 (Mobility Fee Requirement, Certificate, Application Process & Calculation), Sec 655.504 (Re-Evaluation of Mobility Fee Formula Factors), Sec 655.505 (Deposit of Mobility Fees; Mobility Zones & Appropriation of Mobility Fees), Sec 655.506 Page 2 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 (Duration of Mobility Fee Calculation Certificate), Sec 655.509 (Mobility Plan Working Group), & Sec 655.510 (Private Primary & Secondary Educational Schools Exemption), Ord Code, to Codify the Changes Suggested By the Mobility Plan Working Group, Based on Data & Analysis From Resource Systems Group Which Included Add’l Definitions, Reprioritization of the Mobility Projs, Recalculation of the Mobility Fee, Clarification of Trip Reduction Adjustments - the Final Report From the Working Group is Dated 12/21/2020; Repealing Sec 655.507 (Transportation Improvement Projects Constructed By a Landowner or Developer) & Sec 655.508 (Mobility Fee Contract), Pt 5, (Mobility Fee), Ch 655 (Concurrency & Mobility Management System), Ord Code, in Their Entirety; Creating a New Sec 655.507 (Mobility Fee Credit), & a New Sec 655.508 (Memorialization of Mobility Fee, Credit, & Trip Reduction) Pt 5, (Mobility Fee), Ch 655 (Concurrency & Mobility Management System), Ord Code, to Codify the Changes Suggested By the Mobility Plan Working Group, Based on Data & Analysis From Resource Systems Group Which Included Restructuring the Goals of the Mobility System to Make Safety the Primary Goal, Add’l Definitions, Revision of Mobility Projs to Concentrate on Safety & Balancing All Modes of Travel, Recalculation of the Mobility Fee, Clarification of Trip Reduction Adjustments, Recalculation of Mobility Fee Credit, & Reducing the Need for Mobility Fee Contracts; Repealing & Reserving Sec 655.511 (Credit for Trip Reduction Adjustments), Pt 5 (Mobility Fee), Ch 655 (Concurrency & Mobility Management System), Ord Code, in its Entirety; Amend Ch 111 (Special Revenue & Trust Accounts), Pt 5 (Public Works, Utilities, & Infrastructure), Sec 111.520 (Concurrency Management System Fund), & Sec 111.546 (Mobility Fee Zone Special Revenue Fund), Ord Code, to Revise the Apportionments Btwn Motorized & Non-Motorized Modes of Transportation; Prov for Codification Instructions (Grandin) (Introduced by CP at Request of Mayor) (PD & PC Apv) 12/13/22 CO Introduced: F, TEU, LUZ 1/4/23 F Read 2nd & Rerefer 1/4/23 TEU Read 2nd & Rerefer 1/4/23 LUZ Read 2nd & Rerefer 1/10/23 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & CR 3.601 – 1/10/23 AMENDMENT 1. Include amendment of Sections 655.110(b) and 655.111(c)(2) to update nomenclature 2. Correct scrivener’s • Amends Chapter 655 to codify the changes suggested by the Mobility Plan Working Group based on data and analysis provided by a consultant Page 3 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 4. 2023-0019 ORD Declaring the Public Necessity for Acquiring Fee Simple Title Through DEFER Condemnation by Right of Eminent Domain to Certain Real Propty, a Portion of R.E. #106330-0010 located at 1460 Starratt Rd, Consisting of ± 4,554 Sq Ft, At request of the Appraised at $21,900 (the “Property”), as Required for the Starratt/Dunn Creek Administration Rd Intersection Improvement Proj; Auth the Real Estate Div of Public Works to Make Offers & Negotiate for the Purchase of the Propty; Auth Issuance of a Declaration of Taking; Auth & Direct the OGC to Institute Appropriate Condemnation Proceedings (Dist. 2 - Ferraro) (Boeckman) (Introduced by CP at Req of Mayor) 1/10/23 CO Introduced: F, TEU 1/18/23 F Read 2nd & Rerefer 1/18/23 TEU Read 2nd & Rerefer 1/24/23 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 1/24/23 Page 4 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 5. 2023-0020 ORD-MC Relating to the City of Jacksonville’s Procurement Code; Repealing DEFER & Replacing Pt 1 (General Regulations), Pt 2 (Supplies, Contractual Services & Capital Improvements), Pt 3 (Professional Services Contracts), Pt 5 At request of (Extraordinary Critical Purchasing Procedures), Pt 7 (Design-Build Contracts), CM Cumber & Pt 9 (Art in Public Places), Ch 126 (Procurement Code), Ord Code, & Pt 6 (Cultural Service Grant Program), Ch 118 (City Grants), Ord Code, in Their Entirety; Creating a New Pt 1 (General Regulations; Ethics & Transparency in Public Contracting), Pt 2 (Jacksonville Procurement Awards Committee), Pt 3 (Procurement Thresholds, Modes, Methods, & Procedures), Pt 5 (Ex-Offender Program), Pt 7 (Buy American Program), & Pt 9 (Bid Protests, Suspension, & Debarments), Ch 126 (Procurement Code), Ord Code, to Modernize & Provide Greater Efficiencies in the COJ Procurement Code; Amend Pt 4 (Nondiscrimination Policy), Ch 126 (Procurement Code), Ord Code, to Amend the Definition of Nondiscrimination Consistent with Employee Svcs Nondiscrimination Policy; Amend Pt 6 (Jacksonville Small & Emerging Business Program), Ch 126 (Procurement Code), Ord Code, to Make the Part Consistent with the Changes in this Ord; Creating a New Pt 6 (Cultural Service Grants & Art in Public Places), Subpt A (Cultural service Grant Program) & Subpt B (Art in Public Places Program), Ch 118 (City Grants), Ord Code, to Relocate the Art in Public Places Program Previously Under Pt 9, Ch 126, Ord Code, to Pt 6, Ch 118, Ord Code; Amend Sec 24.603 (Duties of Chief of Procurement), Pt 6 (Procurement Division), Ch 24 (Finance & Administration Department), Ord Code, to Add Add’l Duties Regarding Contract Admin & Oversight; Creating a New Pt 4 (Contract Administration & Oversight), Ch 21 (Executive Branch, Generally), Ord Code, to Require Contract Admin & Oversight in City Contracts: Estab a Prospective Date of 2/1/24, for Code Repeals, Amdts, & New Provisions Contained in This Ord to Become Effective; Directing the Chief of Procurement to Update the Procurement Operating Manual Consistent With This Ord Prior to 1/1/24; Prov for Oversight by the Procurement Div, Finance & Administration Dept; Prov for Codification Instructions (Hodges) (Introduced by CM Cumber) 1/10/23 CO Introduced: NCSPHS, R, F, TEU 1/17/23 NCSPHS Read 2nd & Rerefer 1/17/23 R Read 2nd & Rerefer 1/18/23 F Read 2nd & Rerefer 1/18/23 TEU Read 2nd & Rerefer 1/24/23 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 1/24/23 Page 5 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 6. 2023-0045 ORD Apv & Auth the Mayor, or His Designee, & the Corp Sec to Execute & Scrivener's Deliver the 1st Amendment to Lease Agrmt btwn COJ & S.O.C.K. Outstanding Students (S.O.S.) Academy, Inc. for Charter Middle School, to Allow for the Contact: Continued Lease of a Portion of the Mary Lena Gibbs Community Center Daryl Joseph Complex, Located at 6974 Wilson Blvd, Jax, FL 32210, by S.O.C.K. Outstanding Students (S.O.S.) Academy, Inc.; Waiving the Provisions of Sec 126.202 (Competitive Sealed Bid), Pt 2 (Supplies, Contractual Services & Capital Improvements), Ch 126 (Procurement Code), Ord Code, to Allow for the Continued Operation of a Charter Middle School at the Premises Without the Necessity of a Competitive Sealed Bid; Prov for Oversight by Parks, Rec & Community Svcs (Staffopoulos) (Introduced by CP at Req of Mayor) 1/24/23 CO Introduced: NCSPHS, R, F 2/6/23 NCSPHS Read 2nd & Rerefer 2/6/23 R Read 2nd & Rerefer 2/7/23 F Read 2nd & Rerefer 2/14/23 CO PH Read 2nd & Rerefer 2/21/23 NCSPHS Approve 7-0 2/21/23 R Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/14/23 Scrivener’s Pg. 1, line 16: correct spelling to “Academy” • Authorizes the First Amendment to the Lease Agreement between the City and S.O.C.K. Outstanding Students (SOS) Academy to: 1) revise the lease term to a term beginning June 1, 2022 through the last day of the school year, 2052 and 2) allow the Tenant to sublet the leased premises upon written approval of the City • Waives Code Sec. 126.202 (Competitive Sealed Bid) to allow S.O.C.K Outstanding Students (SOS) Academy to continue to offer a charter middle school at the leased premises without the necessity of a competitive sealed bid Page 6 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 7. 2023-0046 ORD Auth the Mayor to Apply to the FL Inland Navigation Dist (FIND) for Contact: 2023 Grants to Undertake Specified Waterways-Related Projs; Auth the Mayor, Daryl Joseph or His Designee, & the Corp Sec to Execute & Deliver All Grant Agrmts btwn the City & FIND, as well as All Docs Related to Such Grants; Acknowledging Willingness to Meet Funding Requirements; Prov for City Oversight by Parks, Rec & Community Svcs (Staffopoulos) (Introduced by CP at Req of Mayor) (JWC Apv) 1/24/23 CO Introduced: NCSPHS, F, JWC 2/6/23 NCSPHS Read 2nd & Rerefer 2/7/23 F Read 2nd & Rerefer 2/14/23 CO PH Read 2nd & Rerefer 2/21/23 NCSPHS Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/14/23 • Authorizes application to the Florida Inland Navigation District (FIND) for the following 2023 grants: - Oak Harbor Boat Ramp Bulkhead - Construction (CD 13): $800,000 - St. Johns Marina Boardwalk - Construction (CD 5): $600,000 - Sisters Creek Dock Extension & Bathhouse - Design (CD 2): $350,000 - Downtown Dredging - Design (CD 5 & 7): $250,000 • Identifies the following alternative projects, in priority order, as replacement recommendations if any of the projects are removed from the list above: - Mandarin Park Boat Ramp Expansion – Design (CD 6): $200,000 - Joe Carlucci Boat Ramp Fishing Pier – Design (CD 2): $125,000 - Trout River Fishing Bridge North Pier – Design (CD 8): $175,000 - Wayne B. Stevens Boat Ramp Dock Improvements – Design/Build (CD 14): $75,000 8. 2023-0047 ORD Apv & Auth the Mayor, or His Designee, & the Corp Sec to Execute & Scrivener’s Deliver that Certain Agrmt btwn COJ & Jacksonville Offshore Sports Fishing Club Inc. for Use of the William “Bill” Gulliford, Jr. Community Center, Contact: Located at David Wayne Pack Park, 4875 Ocean St, Jax, FL 32233 for a 3 Yr Daryl Joseph/ Term; Prov for Oversight by Parks, Rec & Community Svcs (Staffopoulos) Keith Meyerl (Introduced by CP at Req of Mayor) (Co-Sponsors CMs Clark-Murray & Diamond) (JWC Apv) 1/24/23 CO Introduced: NCSPHS, F, JWC 2/6/23 NCSPHS Read 2nd & Rerefer 2/7/23 F Read 2nd & Rerefer 2/14/23 CO PH Read 2nd & Rerefer 2/21/23 NCSPHS Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/14/23 Page 7 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 Scrivener’s 1. Pg. 1, line 26, strike “Sport” and insert “Sports” 2. Pg. 2, line 3, after “Opportunity” insert “to” • Initial lease term is for 3 years at a rate of $1 per year, with two additional 3 year renewal options 9. 2023-0049 ORD Apv & Auth the Mayor, or His Designee, & the Corp Sec to Execute & AMEND Deliver, for & on Behalf of the City, that Certain License Agrmt btwn the City & Lutheran Services Florida, Inc. for Head Start Prog at Moncrief Senior Contact: Center for Comprehensive Childhood Dev for Use of the Moncrief Senior Daryl Joseph Center Located at 5713 Teeler Ave, Jax, FL 32208 for a Term Beginning 11/2/22 & Continuing Through 7/30/23 for the Operation of an Early Childhood Dev Center (Duval County Head Start Prog Svcs); Prov Further Auth; Prov for Oversight by Parks, Rec & Community Svcs (Staffopoulos) (Introduced by CP at Req of Mayor) (Co-Sponsor CM Clark-Murray) 1/24/23 CO Introduced: NCSPHS, F 2/6/23 NCSPHS Read 2nd & Rerefer 2/7/23 F Read 2nd & Rerefer 2/14/23 CO PH Read 2nd & Rerefer 2/21/23 NCSPHS Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/14/23 Page 8 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 AMENDMENT 1. Correct license term to begin on the effective date of the agreement and end July 30, 2033, with one 5-year extension option 2. Strike language regarding additional contribution by the Licensee 3. Correct scrivener’s errors 4. Place revised license agreement on file to: a. Correct license term to begin on the effective date of the agreement b. Correct federal funding grant amount to $208,000 c. Include Council Auditor’s Office within audit rights language d. Correct scrivener’s errors • Authorizes a license agreement with Lutheran Services Florida (Licensee) for operation of the Head Start program at the Moncrief Senior Center located at 5713 Teeler Avenue for an initial term beginning on the effective date of the agreement and ending July 30, 2033 with one additional 5-year renewal option • Licensee has been awarded federal funding of $208,000 for the renovation of the Moncrief Senior Center • The City will contribute $80,000 toward the renovations, specifically ADA upgrades to the building, and this will be funded from the Countywide Parks & Recreation Projects CIP project • Licensee will be responsible for ongoing maintenance of the licensed premises, day to day operational costs, and telephone, computer, or other communication facilities • The City will be responsible for capital maintenance and repair and utilities 10. 2023-0050 ORD Approp Grant Funds in the Amt of $85,000.00 from the National Contact: Highway Traffic Safety Administration, thru the FDOT, to Estab the JSO Bill Clement Impaired Driving Enforcement Proj; Prov for Oversight By the JSO Patrol Support Div (B.T. 23-035) (Staffopoulos) (Introduced by CP at Req of Sheriff) (Co-Sponsor CM Clark-Murray) 1/24/23 CO Introduced: NCSPHS, F, TEU 2/6/23 NCSPHS Read 2nd & Rerefer 2/7/23 F Read 2nd & Rerefer 2/7/23 TEU Read 2nd & Rerefer 2/14/23 CO PH Read 2nd & Rerefer 2/21/23 NCSPHS Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/14/23 • Funds will be used for overtime salaries and benefits for law enforcement officers, running lights for unmarked vehicles, and maintaining a message board Page 9 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 11. 2023-0051 ORD Approp Grant Funds in the Amt of $90,000.00 from the National Contact: Highway Traffic Safety Administration, thru the FDOT, to Estab the JSO Bill Clement Speeding & Aggressive Driving Proj; Prov for Oversight by the JSO, Patrol Support Div (B.T. 23-036) (Staffopoulos) (Introduced by CP at Req of Sheriff) 1/24/23 CO Introduced: NCSPHS, F, TEU 2/6/23 NCSPHS Read 2nd & Rerefer 2/7/23 F Read 2nd & Rerefer 2/7/23 TEU Read 2nd & Rerefer 2/14/23 CO PH Read 2nd & Rerefer 2/21/23 NCSPHS Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/14/23 • Funds will be used for overtime salaries and benefits for law enforcement officers, and to procure radar and laser equipment 12. 2023-0052 ORD Approp $90,000.00 from the Admin & Finance Dept, Office of the Contact: Director - Other Professional Svcs Acct to Carr, Riggs & Ingram, LLC for Kim Taylor Add’l Audit Svcs; Apv & Auth Execution of an Addendum to the Initial Engagement Letter Set Forth in Ord 2020-229-E for the 9/30/21 Yr End Audit (Staffopoulos) (Introduced by the Finance Committee (Council Members Bowman, White, Carlucci, Carrico, Morgan, Pittman & Salem) 1/24/23 CO Introduced: F 2/7/23 F Read 2nd & Rerefer 2/14/23 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/14/23 13. 2023-0054 ORD Auth the Mayor & Corp Secretary to Execute a 4th Amendment to the Contact: Contract With JU to Renew the Contract for a 4th Add’l Yr for the Continuing Eric Hinton/ Manatee Protection Studies for FY 22-23, Subj to Appropriation by City Susan Grandin Council; Prov for Oversight by the Planning & Dev Dept (Grandin) (Introduced by CM Howland) (Co-Sponsors CMs Clark-Murray & Morgan) (JWC Apv) 1/24/23 CO Introduced: NCSPHS, F, JWC 2/6/23 NCSPHS Read 2nd & Rerefer 2/7/23 F Read 2nd & Rerefer 2/14/23 CO PH Read 2nd & Rerefer 2/21/23 NCSPHS Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/14/23 • The fiscal year 2022/23 budget includes funding of $90,000 for continued manatee protection studies Page 10 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 14. 2023-0077 RESO Approp $500,000 from the NW OED Fund - Transfer From Fund AMEND Balance for the Purpose of Providing a $500,000 Large Scale Economic Dev Fund (LSEDF) Grant to KAPPA Alpha PSI Jacksonville Foundation Inc., in Contact: Connection With the Infrastructure Costs & Bldg Improvements to be Made by Kirk Wendland the Company at the Proj Parcel; Purpose of Appropriation; Apv & Auth the Mayor, or His Designee, & the Corp Sec to Execute & Deliver, For & On See Auditor summary Behalf of the City, the Economic Dev Agreemt Btwn Company & the City; on pg. 21 Auth a LSEDF Grant to the Company in the Amt of $500,000; Designation of Authorized Official & Contract Monitor; Auth Appvl of Tech Amends by the Executive Dir of the OED; Prov for City Oversight by the OED; Prov a Deadline for the Company to Execute the Agreemt; Affirming the Proj’s Compliance with the NWJEDF Guidelines Apvd & Adopted by Ord 2016-779-E, as Amended; Waiver of That Portion of the Public Investment Policy Adopt by Ord 2022-372-E, As Amended, to Auth a LSEDF Grant, Which Requires a Minimum of 50 New Jobs; Req Two Reading Passage Pursuant to Council Rule 3.305 (B.T. 23-038) (Dillard) (Introduced by CP at Req of Mayor) (Co-Sponsors CMs Priestly Jackson & Newby) 2/14/23 CO Introduced: R, F 2/21/23 R Amend/Approve 6-0 AMENDMENT 1. Revise funding source to Miscellaneous Sales and Charges within the Northwest Jacksonville Economic Development Fund 2. Attach revised Exhibit 2 (BT) to revise funding source from fund balance transfer to appropriation of miscellaneous sales and charges revenue 3. Place revised economic development agreement on file to 1) clarify that the facility must be open to the public and providing healthcare services as a condition to disbursement of the grant and 2) correct scrivener’s errors • Waives the Public Investment Policy to authorize a Large Scale Economic Development Fund (LSEDF) grant for a project that does not include a job creation requirement (a minimum of 50 new jobs are required under the PIP) 15. 2023-0078 ORD Apv, & Auth the Mayor & Corp Sec to Execute & Deliver, an 2nd Amendment 4 to Economic Dev Agrmt btwn the City & A A Auto Parts, Inc. to Extend the Completion of Construction Date from 12/31/22 to 9/30/23 (Dillard) (Introduced by CP at Req of Mayor) 2/14/23 CO Introduced: F Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 Page 11 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 16. 2023-0079 ORD Approp $1,250,000 ($1,100,000 from the Traffic Signalization - 2nd Countywide Proj & $150,000 from the Countywide Intersection IMP - Intersection Proj) to the Traffic Signal (New) New Berlin Rd & Cedar Point Rd Proj; Amend the 2023-2027 5-Yr CIP Appvd by Ord 2022-505-E to Reflect this Appropriation of Funds from the Traffic Signalization - Countywide & Countywide Intersection IMP - Intersection Projs to the Traffic Signal (New) New Berlin Rd & Cedar Point Rd Proj (B. T. 23-040) (Staffopoulos) (Introduced by CP at Req of Mayor) 2/14/23 CO Introduced: NCSPHS, F, TEU 2/21/23 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 17. 2023-0083 ORD Approp $900,000 from the Lasalle St Outfall - DM Other Construction EMERGENCY Costs Acct to the Lasalle St Outfall - DM Land Acct to Prov Funding for Acquisition by the City of a 0.12± Acre Parcel Located at 936 Lasalle St, Jax, AMEND FL (R.E. # 080493-0000) in Council District 5, to be Used for Construction of the Lasalle St Pump Station; Apv & Auth the Mayor, or His Designee, & the Contact: Corp Sec to Execute & Deliver that Certain Purchase & Sale Agrmt btwn the Steve Long/ City & Arben Daragjati, & all Closing & Other Docs Relating Thereto, & to Robin Smith Otherwise Take all Necessary Action to Effectuate the Purposes of the Agrmt to Purchase the Subj Propty at the Negotiated Purchase Price of $900,000; Prov 2/3 vote for Oversight of Acquisition of the Propty by the Real Estate Div of Public required by Works & Thereafter by Public Works; Req 1 Cycle Emergency Passage (B.T. Council 23-044) (Staffopoulos) (Introduced by CP at Req of Mayor) 2/14/23 CO Introduced: NCSPHS, F, TEU 2/21/23 NCSPHS Emergency/Amend/Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 AMENDMENT 1. Attach revised Exhibit 3 (Purchase Agreement) to include referenced exhibits 2. Amend bill title to reflect CIP amendment • The City’s appraised value for the subject property is $480,000, but the seller will not accept less than $900,000 • Nature of the emergency is that the seller has requested that closing on the property occur as soon as possible Page 12 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 18. 2023-0084 ORD Approp $300,000 in Grant Funding from the DOJ, Office of Justice 2nd Programs, to Kids Hope Alliance (KHA) for Implementation of Proj Rise (Responding & Intervening Through Strength & Empowerment), a Prog Aimed at Increasing the Resiliency of Children & Youth Exposed to Violence, for the 1st Yr of a 3 Yr Grant Term Beginning 10/1/22 - 9/30/25; Amend the 2nd Revised Schedule M to Ord 2022-511-E; Invoking the Exemption in Sec 126.107 (g), Ord Code, with Respect to Svcs to be Prov by Managed Access to Child Health, Inc.; Apv, & Auth the Mayor, or His Designee, & the Corp Sec, &/or the CEO of KHA, to Execute & Deliver a Contract with Managed Access to Child Health, Inc. for the Provision of Professional Svcs for Proj Rise; Waiving the Requirements of Sec 77.111 (a) (Provider Contracts), Ch 77 (KHA), Ord Code, to Exempt the Svcs to be Provided by Managed Access to Child Health, Inc. from Competitive Procurement; Prov for Oversight by KHA (B.T. 23-041) (Staffopoulos) (Introduced by CP at Req of Mayor) 2/14/23 CO Introduced: NCSPHS, R, F 2/21/23 NCSPHS Read 2nd & Rerefer 2/21/23 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 19. 2023-0085 ORD Apv & Auth the CEO of the DIA to Execute & Deliver on Behalf of the 2nd City that Certain Dev Agrmt btwn the DIA & the Jax Historical Naval Ship Association, Inc. (JHNSA), for the Relocation of the Retired Naval Vessel USS Orleck (DD-886) (USS Orleck) in Downtown Jax as a Floating Museum, to Pier 1 at the Former Jax Shipyard Site on Jacksonville’s Northbank, Said Agrmt Being for a Certain Term & Contingent Upon Certain Conditions Precedent Being Met by JHNSA Prior to the City’s Entering Into (1) a 10 Yr License Agrmt with JHNSA, with 2 5-Yr License Renewal Options, Subj to the Mutual Agrmt of the Parties, for JHNSA to Construct, Operate & Maintain the Ship Museum, & (2) a License Agrmt for an up to 2 Yr Term Unless Extended by the CEO of the DIA as Prov Therein, for JHNSA to Install Improvements to Support Temporary Access to the Ship Museum; Auth the DIA to Execute Tech Amendments to the Dev Agrmt & License Agrmts in Accord with the Terms of the Dev Agrmt & License Agrmts Without Further Council Appvl; Prov a Deadline for JHNSA to Execute the Dev Agrmt & License Agrmts; Prov for Oversight by the DIA (Dillard) (Introduced by CP at Req of DIA) 2/14/23 CO Introduced: NCSPHS, F, JWC 2/21/23 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 Page 13 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 20. 2023-0086 ORD Apv, & Auth the Mayor, or His Designee, & the Corp Sec to Execute & EMERGENCY Deliver, For & On Behalf of the City, that Certain Lease & Use Agrmt btwn the City & Lutheran Services Florida, Inc. for Construction & Operation of a Scrivener's Therapeutic Early Learning Center in Victory Park, Located at 3781 University Club Blvd, Jax, FL 32277 for a Term Beginning on the Effective Date of the Contact: Agrmt & Continuing Through 9/30/53; Prov Further Auth; Prov for Oversight Daryl Joseph by Parks, Rec & Community Svcs; Req 1 Cycle Emergency Passage (Staffopoulos) (Introduced by CP at Req of Mayor) 2/14/23 CO Introduced: NCSPHS, F 2/21/23 NCSPHS Emergency/Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 Scrivener’s Pg. 2, line 29: correct spelling to “obligations” • Authorizes a lease and use agreement with Lutheran Services Florida (Lessee) for construction and operation of a therapeutic early learning center for Head Start programming to be located in Victory Park at 3781 University Club Blvd. for an initial term beginning on the effective date of the agreement and ending September 30, 2053 with one additional 5-year extension option at a rate of $1 per year • The total project costs are estimated at $3,856,151.20 • The City appropriated CDBG funding of $749,250.06 toward the project through Ord. 2022-362-E and the remainder will be funded by federal and state grants • Lessee shall commence construction of the Victory Park Early Learning Center on or before January 1, 2024 and complete construction within 15 months of commencement • Lessee will be responsible for construction of the facility, providing furniture, fixtures, and equipment, all ongoing programming expenses, regular facility cleaning, and all security system and communication charges • The City will be responsible for major maintenance and repair of the Center, water and electric utilities costs, mowing and landscaping of the grounds, and landscaping the exterior of the building • The nature of the emergency is that the Lessee is required to receive a commitment from the City by March 1, 2023 in order to retain the federal grant funding for the project Page 14 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 21. 2023-0087 ORD Apv & Auth the Mayor or His Designee & Corp Sec to Execute & 2nd Deliver a Purchase & Sale Agrmt Btwn the City & RP Sports Investments, Inc. & All Closing Docs Relating Thereto, & Otherwise Take All Necessary Action to Effectuate the Purposes of the Agrmt, For the Purchase By Developer of Certain Real Propty in Council Dist-7 Bounded by A. Philip Randolph Blvd & Georgia St. & btwn Albert St & Grant St in Jax, FL, Comprising of an ±5.83 Acre Parcel of Unimproved Real Propty, to Develop into an Office Bldg With a Min of 25,000 Sq Ft, A Soccer Stadium With a Min Seating Capacity of 2,500 Seats, & a Surface Paring Lot With a Min of 100 Parking Spaces; Prov For Oversight By the Real Estate Div of Public Works in Coordination With the OED (Sawyer) (Introduced by CP at Req of Mayor) 2/14/23 CO Introduced: NCSPHS, F, TEU 2/21/23 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/28/23 22. 2023-0088 ORD Apv & Auth the CEO of the DIA, or Her Designee, to Execute a Redev EMERGENCY Agrmt Btwn the DIA & Lofts at Cathedral, Ltd., to Support the Renovation & Rehabilitation by Developer of a Historic Bldg at 325 E. Bay St; Auth 3 NCSPHS Downtown Preservation & Revitalization Prog (DPRP) Loans, in an Aggregate AMEND Amt Not to Exceed $2,398,400.00, to the Developer in Connection with the Proj, to Be Approp by Subsequent Legislation; Waiving the DPRP Guidelines Contact: to Auth a 16-Yr Loan term For the DPRP Deferred Principal Loan; Amend the Steve Kelley Home Investment Partnership (HOME) & State Housing Investment Partnership (SHIP) Loan Modification Terms Appvd by the City Council See Auditor summary Pursuant to Ord 2017-849-E, As Amended by Ord 2019-855-E, & Auth the on pg. 22 Execution of Subordination Agrmts Relating Thereto; Desig the DIA As Contract Monitor For the Agrmts; Prov For Oversight of the Proj by the DIA; Auth the Execution of All Docs Relating to the Above Agrmt & Transactions, & Auth Technical Changes to the Docs; Req 1 Cycle Emergency Passage (Sawyer) (Introduced by CP Freeman) 2/14/23 CO Introduced: NCSPHS, R, F 2/21/23 NCSPHS Emergency/Amend/Approve 6-1 (Cumber) 2/21/23 R Emergency/Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/28/23 Page 15 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 NCSPHS AMENDMENT 1. Revise DPRP amounts to $926,185 for the HPRR Forgivable Loan, $800,635 for the CCR Forgivable Loan, and $671,580 for the Deferred Principal Loan 2. Correct project address to 325. E. Duval Street and include address for new construction improvements 3. Correct repayment date for Deferred Principal Loan to 16 years from payment 4. Attach revised Exhibit 1 to include DIA Res. 2022-12-03 5. Correct exhibit reference to amended HOME and SHIP Loan Modification Terms and attach as a new Exhibit 2 6. Correct scrivener’s error 7. Place revised Redevelopment Agreement on file to: a. Revise DPRP amounts to $926,185 for the HPRR Forgivable Loan, $800,635 for the CCR Forgivable Loan, and $671,580 for the Deferred Principal Loan b. Include deadline to execute agreement within 30 days of bill effective date c. Fill in DPRP funding category minimums in chart d. Clarify that semi-annual interest payments will be due on the AHS Loan e. Revise language to reflect AHS Loan repayments will be deposited in the Northbank CRA Fund f. Revise Exhibit A (Project Parcel description) to include address for New Construction Improvements g. Revise Exhibit C (Loan Disbursement Form) to include payment request for AHS Loan h. Correct scrivener’s errors • Waives the Downtown Preservation and Revitalization Program (DPRP) Guidelines to authorize a term of 16 years instead of 10 years for the Deferred Principal Loan • The nature of the emergency is that executed City agreements are needed prior to the Developer’s construction financing closing, which must be completed prior to the Florida Housing Finance Corporation deadline of March 10, 2023 NOTE: Based on the proposed DPRP funding structure, this project does not meet the minimum ROI of 0.50 required by the DPRP Guidelines. The change in the funding structure included in the amendment above will cause the project to generate an ROI of 0.50. Page 16 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 23. 2023-0089 ORD Apv & Auth the Mayor or His Designee & Corp Sec to Execute a Redev 2nd Agrmt, Purchase & Sale Agrmt & Related Docs as Referenced Therein (Collectively, the “Agreements”) Btwn the City & A.R. Polar Jacksonville, LLC, & to Execute All Deeds & Closing Docs Relating Thereto, & Otherwise Take All Necessary Action to Effectuate the Purposes of the Agrmts, For the Purchase by the City of an ±1.6 Acre Parcel of Company-Owned Real Propty (Company Parcel), at its Appraised Value on the Northbank of the St. Johns River (a Portion of R.E. # 130574-0000), Upon Which the City Intends to Construct a Marine Fire Station & Fire Vessel Mooring Facility, in Exchange For 2 Options for the Company to Acquire Up to 4.75 Acres of City-Owned Real Propty, Currently Used as a Retention Pond (a Portion of R.E. # 130574-0150, the “City Parcel”); the 1st Option is to Acquire 58, 750 Sq Ft of the City Parcel, Equal to the Fair Market Value of the Company Parcel, in Exchange for the City’s Purchase of the Company Parcel; the 2nd Option is to Purchase Up to the Balance of the City Parcel at a Purchase Price of $38 Per Sq Ft, Subj to Certain Increases as Set Forth in the Redev Agrmt; The Options to Purchase Are For a Term of 5 Yrs From the Effective date of the Redev Agrmt, & If the Developer Does Not Close Pursuant to the 1st Option, the City Shall Pay a Purchase Price For the Company Parcel in the Amt of $3,055,000; Auth the Execution of All Docs Relating to the Above Agrmt & Transactions, & Auth Technical Changes to the Docs; Prov For Oversight of the Execution of the Agrmts by the DIA (Sawyer) (Introduced by CP at Req of DIA) 2/14/23 CO Introduced: NCSPHS, F, JWC 2/21/23 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/28/23 24. 2023-0091 ORD Prov For Determination of Satisfactory Performance by Carr, Riggs & 2nd Ingram, LLC in Conducting Annual Audits for the City & Certain Other Funded Progs for the FYs Ending Sept 30, 2020 & 2021; Approp $7,800.00 From the Finance & Admin Dept, Office of the Dir - Other Professional Svcs Acct to Provide Add’l Funding to Engage Carr, Riggs & Ingram, LLC for the Provision of Independent Audit Svcs for 1 Add’l 1-Yr Period; Apv, & Auth Execution by the Council President, or His Designee, of An Independent Auditor Agrmt Btwn the City & Carr, Riggs & Ingram, LLC, Outlining the Terms & Conditions to Engage Said Firm to Prov an Annual Audit of the City & Certain Other Funded Progs For 1 Add’l 1-Yr Period Under the Single Audit Approach (Staffopoulos) (Introduced by the Finance Committee (CMs Bowman, White, Carlucci, Carrico, Morgan, Pittman & Salem)) 2/14/23 CO Introduced: F Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/28/23 Page 17 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 25. 2023-0092 ORD Apv & Auth the Mayor & Corp Sec to Execute & Deliver, For & On 2nd Behalf of the City, the Funding Agrmt for Deep Bottom Creek Dredging Proj btwn the Deep Bottom Creek Dependent Special Dist & the City; Approp $15,000 From General Fund - GSD Fund Bal to Be Used Toward the Preliminary Site Work for Dredging Deep Bottom Creek, Prov For Oversight By Public Works (Bowles) (Introduced by CM Boylan) 2/14/23 CO Introduced: F, TEU Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/28/23 26. 2023-0093 ORD Declaring 9 Properties to be Surplus to the Needs of the City - 1247 Dyal 2nd St, Jax, FL 32206 (R.E. # 114081-0000), 1410 Florida Ave, Jax, FL 32206 (R.E. # 114619-0010), 1322 Harrison St, Jax, FL 32206 (R.E. # 114444-0000), 1305 Bridier St, Jax, FL 32206 (R.E. # 115302-0000), 0 13th St E Jax, FL 32206 (R.E. # 113702-0000), 719 5th St E, Jax, FL 32206 (R..E. # 114832-0020), 1130 12th St E, Jax, FL 32206 (R.E. # 114906-0000), 1442 FL Ave, Jax, FL (R.E. # 114614-0000), 1152 3rd St E, Jax, FL, 32206 (R.E. #114330-0000) (Collectively, the “Property”); Auth Conveyance of the Propty to Historic Eastside Community Development Corp, Inc., a Florida Not For Profit Corp, at No Cost, to be Used For the Provision of Affordable Housing; Auth the Mayor & the Corp Sec to Execute a Donation Agrmt, Quitclaim Deed & Other Conveyance Docs; Waiving Sec 122.424 (Disposition by Direct Sale), Pt 4 (Real Property), Ch 122 (Public Property), Ord Code, & Sec 122.425 (Disposition by Auction or Sealed Bid), Pt 4 (Real Property), Ch 122 (Public Property), Ord Code, to Allow the Propty to be Conveyed to Historic Eastside Community Development Corporation, Inc., at No Cost; Including a Covenant in the Deed Conveying the Propty Requiring the Propty to be Used For Affordable Housing Within 2 Yrs of the Conveyance, as Evidenced by Certificates of Occupancy, & Granting Reversionary Rights in the Propty to the City if Not So Used; Prov For City Oversight by the Dept of Public Works, Real Estate Div Over the Transfer of the Propty to the Grantees; Prov For City Oversight by the Dept of Neighborhoods Housing & Community Dev Div Thereafter (Dist. 7-Gaffney, Jr.) (Wilson) (Introduced by CM Gaffney, Jr.) 2/14/23 CO Introduced: NCSPHS, R, F, TEU 2/21/23 NCSPHS Read 2nd & Rerefer 2/21/23 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 2/28/23 Page 18 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 27. 2023-0113 ORD Apv & Auth the Mayor, or His Designee, & Corp Sec to Execute & 2nd Deliver to Karpeles Manuscript Library Incorporated, a California Not For Profit Corp, a Corrective Quitclaim Deed for the Purpose of Terminating the City’s Existing Right of Reverter In & To an Unimproved Parcel of Real Propty Located on 1st St W btwn Boulevard St & Laura St N (R.E. # 070825-0000) (Wilson) (Introduce by CM Gaffney, Jr.) 2/14/23 CO Introduced: NCSPHS, F, TEU 2/21/23 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 28. 2023-0114 ORD Auth the Borrowing & Approp from the City’s Commercial Paper Facility 2nd &/or the Issuance of Fixed-Rate Debt in the Up To, Max Amt of $20,000,000, to Provide a Grant to the University of Florida Board of Trustees to Support the Creation of a Fintech Graduate Education Center Within Duval; Amend 2022-504-E, the FY 22-23 Budget Ord, to Replace the 4th Revised Schedule B4 in Order to Auth the Borrowing &/or the Issuance of Debt for the “University of Florida Health & Financial Tech Graduate Education Center” Proj; Auth the City to Enter Into an Agrmt with the University of Florida Board of Trustees in Accord with the Term Sheet Attached Hereto to Provide the Grant as Further Detailed Therein; Req that Finance & Admin Administer the Agrmt Auth Herein (B.T. 23-056) (Sawyer) (Co-Introduced by CP Freeman at Req of Mayor) 2/14/23 CO Introduced: NCSPHS, F 2/21/23 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 29. 2023-0115 ORD Approp Federal Grant Funds in the Amt of $311,823.40 from the CDC, EMERGENCY Through the FL Dept of Health, to JFRD, for the Coordinated Opioid Response (CORE) Prog, a Community-Based Intervention Prog that Will Implement a AMEND Network of Providers for the Care, Treatment, & Recovery of Individuals Suffering from Substance Use Disorder; Prov for Oversight by JFRD; Req 1 Contact: Cycle Emergency Passage (B.T. 23-057) (Staffopoulos) (Introduced by CP at Keith Powers Req of Mayor) 2/14/23 CO Introduced: NCSPHS, F 2/21/23 NCSPHS Emergency/Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/28/23 Page 19 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 AMENDMENT 1. Attach Grant Letter and Scope of Work as new Exhibit in accordance with Ordinance Code Section 117.107(2) 2. Attach revised Exhibit 1 (BT) to include signatures from MBRC as required by Ordinance Code 106.301 • The grant funds will be used to pay for JFRD’s obligations to the CORE program, including salaries and benefits, 3 fleet vehicles, and computer hardware, software and equipment • Nature of the emergency is that grant funding for the CORE program expires on June 30, 2023, and the dollars are needed to fund JFRD’s obligations for the program Page 20 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 Council Auditor’s Office – Bill 2023-77: Kappa Alpha Psi Jacksonville Foundation, Inc Company Name – Kappa Alpha Psi Jacksonville Foundation, Inc Project Location – 3717 Moncrief Rd. W. Incentives Provided – • $500,000 Large Scale Economic Development Fund (LSEDF) grant from the Northwest Jacksonville Economic Development Fund (NWJEDF) Performance Schedule – • Completion of construction no later than 3/31/2025 Number of Jobs to be Created – N/A Number of Jobs to be Retained – N/A Capital Investment – $8,300,000 Records Retention/Audit Clause – Yes Clawback Language – • In the event reporting requirements are not met in the time period specified in the agreement, the City will be entitled to withhold disbursement of the LSEDF grant • If by 3/31/25, the Company fails to invest at least $7,500,000 of private funding, the LSEDF grant will be terminated and any amounts paid to the Company will be repaid to the City • If the Company sells the project parcel during the first five years after disbursement of the LSEDF grant, the Company must repay the LSEDF grant on a sliding scale • If the Company or any lessee or assignee uses the Project Parcel for any ineligible activities during the term of the agreement, the Company shall repay the full amount of the LSEDF grant OED has not prepared an ROI calculation for this project as it will not generate ad valorem taxes. Waives the Public Investment Policy to authorize a LSEDF grant for a project that does not include a job creation requirement (a minimum of 50 new jobs are required under the PIP). Page 21 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 Council Auditor’s Office - Bill 2023-88: Lofts at Cathedral Project Summary • Historic Improvements to be located at 325 E. Duval Street (former YWCA/Community Connections Building) will create approximately 28 units of housing • New Construction Improvements to be located at 327 E. Duval Street will create approximately 92 units of housing • Of the 120 total units, 84 units will be affordable with rent limits at 80% or less of AMI (area median income) • Estimated total development costs of $39,000,000 • Of the $39 million, the Historic Improvements component has total development costs of $7,235,489 and a total construction budget of $5,449,720 Proposed City Funding • Total DPRP Loans of $2,398,400 (Historic Improvements): - CCR Forgivable Loan - $1,029,100 - HPRR Forgivable Loan - $889,600 - Deferred Principal Loan - $479,700 (Note: waiving the DPRP Guidelines to provide a 16-year payback instead of 10-year payback term) Previously Approved City Funding • DIA Affordable Housing Support (AHS) Loan - $625,000 loan with a 20-year term, 1% interest payable semi-annually, and principal due at maturity; funded from the Downtown Northbank CRA • Jacksonville Housing Finance Authority Gap Loan - $2,500,000 loan with a 20-year term, 1% interest payable semi-annually, and principal due at maturity HOME and SHIP Loan Subordination • There is a SHIP (State Housing Initiatives Partnership) Loan of $134,279.91 and HOME (HOME Investment Partnerships Program) Loan of $235,200 currently outstanding on the 325 E. Duval Street property • The terms of the HOME and SHIP Loans as previously approved by Ord. 2019-855-E are being revised to modify the City’s lien position to be subordinate to any conventional lender and any governmental lender as approved by the City (i.e. will be in last position after senior financing, JHFA Loan, AHS Loan, and DPRP funding) Project Timeline • Commence construction of the Improvements within 6 months of effective date • Complete construction of the Improvements within 24 months of commencement Clawbacks • Withholding of DPRP and AHS Loans if reporting requirements are not met or taxes are not paid • Funding is subject to repayment if the property is sold within 5 years of disbursement (HPRR and CCR Loans), 16 years of disbursement (Deferred Principal Loan), and 20 years of disbursement (AHS Loan) ROI • DIA has calculated ROIs of 0.50 (Historic Improvements) and 7.64 (New Construction Improvements) over a 20-year period, based on a proposed adjustment to the DPRP funding structure that DIA will be recommending. The ROI calculation does not include the $2,500,000 loan from the Jacksonville Housing Finance Authority. Page 22 of 23 Finance Committee Agenda - Revised Marked February 22, 2023 NOTE: The next regular meeting will be held Tuesday, March 7, 2023. *****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 23 of 23