Finance Committee

City of Jacksonville 117 W. Duval Street Jacksonville, FL 32202 Agenda - Revised Marked Tuesday, March 5, 2024 9:30 AM Council Chamber 1st Floor, City Hall Finance Committee Nick Howland, Chair Randy White, Vice Chair Raul Arias Kevin Carrico Reggie Gaffney, Jr. Will Lahnen Ju’Coby Pittman Legislative Assistant: Maritza Sanchez Council Auditor's Office: Kim Taylor, Council Auditor Council Auditor's Office: Phillip Peterson, Asst. Council Auditor Council Research: Jeff Clements, Chief Office of General Counsel: Mary Staffopoulos, Deputy Administration: Scott Wilson Finance Committee Agenda - Revised Marked March 5, 2024 Meeting Convened: Meeting Adjourned: Attendance: Presentation by Tim Johnson, Executive Director of the Police and Fire Pension Fund - Police and Fire Pension Fund 10/1/2023 Actuarial Valuation Langton Contract / Contractor Access Item/File No. Title History 1. 2023-0307 ORD-MC re the Jax Police & Fire Pension Board of Trustees; Amend Sec DEFER 22.12 of the Charter of the COJ; Prov for Codification Instructions (Hodges) (Co-Introduced by CP Freeman at Req of Jax Police & Fire Pension Board of At request of Trustees & CM White) (Co-Sponsor CM Pittman) PFPF Board 5/9/23 CO Introduced: R, F 5/15/23 R Read 2nd & Rerefer 5/16/23 F Read 2nd & Rerefer 5/23/23 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601- 5/23/23 2. 2023-0621 ORD Auth the Mayor, or Her Designee, & the Corp Sec to Execute & Deliver, DEFER for & on Behalf of the City, an Amendment 2 to Redev Agrmt By & Among the City, DIA, Fuqua BCDC One Riverside Project Owner, LLC (Developer), At request of Assignee of Fuqua Acquisitions II, LLC, & TBR One Riverside Owner, LLC, Developer as Partial Assignee of Developer, Amend the Redev Agrmt Dated 12/20/21 Previously Auth by Ord 2021-796-E, as Previously Amended by Amendment 1 to Redev Agrmt Dated 10/12/22, as Auth by Ord 2022-493-E, (Collectively, the “Agreement”), to Modify the Performance Schedule & Associated Terms of the Agrmt; Auth the Execution of All Docs Relating to the Above Agrmts & Transactions, & Auth Tech Changes to the Docs (Sawyer) (Req of DIA) 9/12/23 CO Introduced: NCSPHS, F 9/18/23 NCSPHS Read 2nd & Rerefer 9/19/23 F Read 2nd & Rerefer 9/26/23 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & CR 3.601 - 9/26/23 Page 1 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 3. 2024-0069 ORD Amend Sec 2 of ORD 2021-838-E Which Established a Dependent DEFER Special Dist Known as the “Baymeadows Community Improvement District” (BCID); Amend BCID Charter Sec 2 to Auth Issuance of Bonds; Deleting the At request of Limit on Annual Adjustments to Assessments; Rev the Updated Annual CM Arias Maxims for Assessments; Adding & Incorporating by Reference the Proposal Special Assessment Allocation Report; Removing the Ex Officio Requirement; Amend the Initial Election Date (Bowles) (Introduced by CM Arias) 1/23/24 CO Introduced: NCSPHS, R, F 2/5/24 NCSPHS Read 2nd & Rerefer 2/5/24 R Read 2nd & Rerefer 2/6/24 F Read 2nd & Rerefer 2/13/24 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/13/24 4. 2024-0082 ORD Approp $400,000 From Gen Fund Operating Reserves to Prov Add'l DEFER Funding for the Home Roof Initiative Described & Appvd by Ord 2023-807-E; Prov for Oversight by the Neighborhoods Dept, Housing & Community Dev At request of Div; Req 1-Cycle Emergency Passage (Staffopoulos) (Introduced by CM CM M. Carlucci Carlucci) (Co-Sponsors CMs Gaffney, Jr., Clark-Murray & Peluso) 1/23/24 CO Introduced: NCSPHS, F 2/5/24 NCSPHS Read 2nd & Rerefer 2/6/24 F Read 2nd & Rerefer 2/13/24 CO PH Read 2nd & Rerefer 2/20/24 NCSPHS Amend/Approve 6-1 (Diamond) 2/21/24 F Amend/Approve 3-3 (Howland, Arias, Carrico) (Defer) Public Hearing Pursuant to Ch 166, F.S. & CR 3.601 - 2/13/24 5. 2024-0101 ORD Amend the JTA FY 22-23 Budget; Amend Ord 2022-504-E (the COJ Contact: Budget Ord) by Amending Revised Schedule O (Estimated Operating Cleveland Ferguson Revenues) & Revised Schedule P (Operating Expenditures) to Approp Add’l Revenues to Offset Increased Operating Expenses Exceeding the Appvd JTA Budget for FY 22-23 (Staffopoulos) (Req of JTA) 2/13/24 CO Introduced: F, TEU 2/21/24 F Read 2nd & Rerefer 2/21/24 TEU Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 Page 2 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 JTA is amending their FY 2022/23 budget by appropriating $2,244,085 in additional Net Sales Tax Revenue to cover increased expenses in following divisions: • Bus: $863,263 • Connexion (CTC): $677,215 • Ferry: $703,607 6. 2024-0102 ORD Apv, & Auth the Mayor, or Her Designee, & Corp Sec to Execute & Contact: Deliver, an Amendment 5 to Economic Dev Agrmt btwn the City & A A Auto Ed Randolph Parts, Inc. to Extend the Completion of Construction Date From 9/30/23 to 9/30/24 (Dillard) (Req of Mayor) 2/13/24 CO Introduced: F 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 • Ord. 2019-652-E authorized an economic development agreement with AA Auto Parts, Inc. (“Company”) providing a $100,000 Northwest Jacksonville Business Infrastructure Grant (BIG) and Northwest Jacksonville Economic Development Fund Loan of $150,000 in connection with the installation of a metal shredder system located at the Company’s property on West Beaver Street • The Company is also required to create 5 new jobs at an average wage of no less than $26,000 within 18 months of disbursement of the BIG • The original agreement included a project completion date of July 1, 2021 • The completion date has been administratively extended twice, first to December 31, 2021 and then to June 30, 2022 • Ord. 2022-560-E further extended the completion date to December 31, 2022 • Ord. 2023-78-E further extended the completion date to September 30, 2023 • Completion date is now proposed to be extended to September 30, 2024 7. 2024-0103 ORD Apv, & Auth the Mayor, or Her Designee, & Corp Sec to Execute & Contact: Deliver That Certain Amendment 1 to Lease Agrmt btwn the City & the Boeing Ed Randolph Company for Extension of the Term of the Lease for Bldg 68 at Cecil Commerce Center, Consisting of 60,000 sq ft of Space, Located at 6222-1 POW-MIA Memorial Pkwy, Jax, FL 32221, for a Term of 3 Yrs, With Options to Renew for 2 Add’l 1 Yr Terms, at a Monthly Rental Rate of $15,579.69 With 3% Annual Rent Increases & a CAM Charge of $200.00 Per Month; Auth Such Other Docs & Technical Changes as May Be Required, Provided That the City’s Costs Are Not Increased; Prov for Oversight by OED (Dillard) (Req of Mayor) 2/13/24 CO Introduced: F 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 Page 3 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 • Authorizes First Amendment to the Cecil Commerce Center Lease with The Boeing Company to: - Extend the expiration of the initial term from June 29, 2024 to June 28, 2027 - Change the renewal options from two 5-year renewals to two 1-year renewals - Set a flat rate Common Area Maintenance fee of $200 per month - Eliminate tenant’s termination option 8. 2024-0104 ORD Approp $1,289,128.00 From the Opioid Settlement Fund - Miscellaneous Contact: Settlements Acct to Pay for Medical Equipment & Supplies to Respond to the Chief Powers Increase in Opioid Overdose Emergency Calls (B.T. 24-039) (Dillard) (Req of Mayor) 2/13/24 CO Introduced: NCSPHS, F 2/20/24 NCSPHS Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer 3/4/24 NCSPHS Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 9. 2024-0105 ORD Approp $209,984.02 From the Countywide Intersection Imp - Intersection AMEND Proj to the Townsend Rd Sidewalk - South Proj to Pay for Design & Engineering Costs Related to the Construction of a Sidewalk on the South Side Contact: of Townsend Rd, Amend the 24-28 5-Yr CIP Appvd by Ord 2023-505-E to Chris LeDew Reflect This Approp of Funds to the Proj; Prov for Oversight by the Traffic Engineering Div of the Dept of Public Works (B.T. 24-055) (Dillard) (Req of 2/3 vote Mayor) required by 2/13/24 CO Introduced: NCSPHS, F, TEU Council 2/20/24 NCSPHS Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/21/24 TEU Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer 3/4/24 NCSPHS Amend/Approve 5-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 AMENDMENT Attach Revised Exhibit 2 (CIP) to correct prior years funding and include future years estimated cost • Public Works has estimated a future construction cost of $2,500,000 for the Townsend Road Sidewalk – South project Page 4 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 10. 2024-0107 ORD Approp $3,500,000.00 From the General Fund - Property Taxes Acct to DEFER JU to Offset Operational Expenses for the Relocation of the JU College of Law; Auth the Mayor, or Her Designee, & the Corp Sec to Execute & Deliver an At request of Agrmt btwn the City & JU to Provide Funding for Certain Expenses Related to OED the Relocation of the JU College of Law; Waiving Sec 118.107 (Nonprofits to Receive Funding Through a Competitive Evaluated Award Process), Pt 1 (General Provisions), Ch 118 (City Grants), Ord Code, to Allow a Direct Contract With JU; Prov for Oversight by OED (B.T. 24-058) (Dillard) (Req of Mayor) (Co-Sponsors CMs Amaro & Salem) 2/13/24 CO Introduced: R, F 2/20/24 R Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 11. 2024-0109 ORD Approp a $1,750,000.00 FY 24 COPS Hiring Prog Grant From the U.S. AMEND DOJ / Office of Community Oriented Policing Services (COPS) & Approp $3,476,737.00 to Cover the Required Local Match From the City for the First Contact: Yr of the Grant & Add’l Operating Expenses to Train & Outfit 40 New Police Bill Clement Officer Positions Within JSO to Be Hired Under the Grant; Auth Said Positions; Prov for City Oversight by JSO (B.T. 24-053) (R.C. 24-057) 2/3 vote (Dillard) (Req of Sheriff) (Co-Sponsors CMs Diamond, Carlucci, Freeman & required by Gay) Council 2/13/24 CO Introduced: NCSPHS, F 2/20/24 NCSPHS Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer 3/4/24 NCSPHS Amend/Approve 6-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 AMENDMENT 1. Attach Revised Exhibit 1 (BT) to increase the General Fund - Fund Balance appropriation and reduce the Reserve for Federal Programs appropriation based on available funds 2. Clarify that $250,000 is being appropriated from the Contingency Reserve for Federal Programs and $3,226,737 is being appropriated from the General Fund - Fund Balance 3. Pg. 2, line 20, strike "Fiscal Year 2023-2024" and insert "first year" • The total federal award amount is $5,000,000 for the five-year period of 10/1/23 – 9/30/28 • Of the City's $3,476,737 appropriation, $771,800 is the City's required match with the additional funding covering salaries and benefits, training, computers, equipment and vehicles Page 5 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 12. 2024-0110 ORD Amend the JEA FY 22-23 Budget; Amend Ord 2022-504-E (the COJ Contact: Budget Ord) by Amend Schedule C (JEA Consolidated Operating Budget) & Laure Whitmer / Revised Schedule D (JEA Consolidated Capital Budget) to Approp Surplus Kurt Wilson Funds From FY 21-22 & Excess Revenues in the Electric System Operating Budget to Make Contributions to the Non-Fuel Purchased Power Rate Stabilization Fund, to Approp the Remaining Balance Within the Environmental - Rate Stabilization Fund to Increase the Transfer to Operating Capital Outlay in the Water System Operating Budget, to Approp the Add’l Transfer From Operating Capital Outlay & Add’l Other Proceeds in the Water System Capital Budget, & to Approp Excess Revenues in the Dist Energy System Operating Budget to Operating Capital Outlay (Staffopoulos) (Req of JEA) 2/13/24 CO Introduced: F, TEU 2/21/24 F Read 2nd & Rerefer 2/21/24 TEU Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 JEA is amending their FY 2022/23 budget for the following: • Electric System Operating Budget: Appropriating a net amount of $60,040,239 by using surplus funds from FY 2021/22 ($40,294,302) and appropriating additional revenue ($19,745,937) which will all go towards future Plant Vogtle payments. • Water System Operating Budget: Appropriating $26,643,922 from the Environmental - Rate Stabilization fund, which was an unbudgeted transfer that occurred during the fiscal year to go towards Operating Capital Outlay. • Water System Capital Budget: Appropriating $93,806,485 which includes the $26,643,922 transfer from the operating budget and an appropriation of $37,162,563 in additional Other Proceeds. • District Energy System Operating Budget: Appropriating a net amount $9,062 in additional revenue to go towards Operating Capital Outlay. Page 6 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 13. 2024-0112 ORD-MC Concerning the Funding of Initiatives Through Certain Economic Contact: Dev Agrmt Incentives; Creating a New Sec 106.445 (Vote Required to Fund CM J. Carlucci Initiatives Through Certain Economic Development Agreement Incentives), Subpt E (Miscellaneous Provisions), Pt 4 (Fiscal Management), Ch 106 (Budget & Accounting Code), Ord Code, to Provide That Funding of Add’l Initiatives Through Certain Economic Dev Incentive Agrmts Shall Require a Vote of 14 Members of the Council to Apv & Prov That a Waiver of This Requirement Shall Also Require a Vote of 14 Members of the Council; Prov for Codification Instructions (Staffopoulos) (Introduced by CM J. Carlucci) 2/13/24 CO Introduced: R, F 2/20/24 R Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 • There are two programs that have been established using an annual funding mechanism that is calculated based on the amount of City economic development agreement incentives approved during a calendar year located outside of an established Community Redevelopment Area: the Jacksonville Upward Mobility Program (1%) and the Homelessness Initiatives Special Revenue Fund (4%) • This legislation creates a new Code Sec. 106.445 (Vote Required to Fund Initiatives Through Certain Economic Development Agreement Incentives) to: - Limit the funding of City initiatives to be calculated in this manner to a total of 5% (to provide for the two previously approved programs noted above) - Require an affirmative vote of 14 Council Members to approve any additional requests to set aside funds in this manner (note: an affirmative vote of a majority of Council Members present, which can equal 8 to 10 Council Members depending on attendance, is normally required to approve a non-appropriation ordinance unless otherwise required by the Code/Council Rules) - Require an affirmative vote of 14 Council Members to waive this provision 14. 2024-0114 ORD Apv the Settlement of Jason Weathington v. JSO, Case No.: 20-020-D, Scrivener's Pending Before the City’s Civil Service Board; Auth the Mayor & Corp Sec to Execute the Settlement Agrmt; Auth the General Counsel, or His Designee, to Contact: Take Further Action to Conclude the Matter (Granat) (Req of Sheriff) Sean Granat 2/13/24 CO Introduced: R, F 2/20/24 R Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer 3/4/24 R Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 Page 7 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 Scrivener’s Pg. 1, line 10: correct spelling • The City’s estimated financial impact of the proposed settlement is approximately $224,000 15. 2024-0117 ORD Declaring 330 24th Street W., Jax, FL 32206 (R.E. #087475-0000), btwn AMEND Perry Street & Pearl Street N, in Council Dist 10, to Be Surplus to the Needs of the City; Auth Conveyance of the Subject Parcel to the Jacksonville Contact: Brotherhood of Firefighters, Inc., a FL Not for Profit Corp, at No Cost; Auth CVP White / the Mayor & the Corp Sec to Execute a Quitclaim Deed & Other Conveyance CM Pittman Docs; Waiving Sec 122.423 (Disposition for Affordable Housing), Pt 4 (Real Property), Ch 122 (Public Property), Ord Code Waiving Sec 122.424 (Disposition for Direct Sale), Pt 4 (Real Property), Ch 122 (Public Property), Ord Code, & Waiving Sec 122.425 (Disposition by Auction or Sealed Bid), Pt 4 (Real Property), Ch 122 (Public Property), Ord Code, the Foregoing Waivers to Allow Donation of Property to the Jacksonville Brotherhood of Firefighters, Inc.; Prov for (1) Property Conveyed “as is,” (2) Req Submission of an Annual Affidavit, & (3) a Right of Reentry for Failure to Use the Subject Parcel for Emergency Housing; Prov for City Oversight by the Dept of Public Works, Real Estate Div (Wilson) (Introduced by CMs White & Pittman) (Co-Sponsors CMs Lahnen & Miller) 2/13/24 CO Introduced: R, F, TEU 2/20/24 R Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/21/24 TEU Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer 3/4/24 R Amend/Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 AMENDMENT Remove unnecessary waiver of Section 122.423 (Disposition for affordable housing) • Waives Sections 122.424 (Disposition by direct sale) and 122.425 (Disposition by auction or sealed bid) to allow the Property to be conveyed to the Jacksonville Brotherhood of Firefighters, Inc. at no cost • In accordance with Section 122.423, property reverted to the City after being donated for affordable housing and is now deemed unsuitable for that purpose Page 8 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 16. 2024-0118 ORD Approp $2,027,000 From General Fund - GSD Fund Balance to the AMEND Jacksonville Historical Society, Inc. (JHS) to Be Used for Renovations to the Florida Casket Company Bldg, Located at 314 Palmetto St, Jax, FL 32202 in Contact: Order to Estab a Jacksonville History Center; Prov for a Carryover of Funds CM M. Carlucci Until 3/31/26; Auth the Mayor, or Her Designee, & the Corp Sec to Execute a 2nd Amendment to the FY 22-23 City Grant Agrmt btwn the City & the JHS to 2/3 vote Extend the Term of the Agrmt to 3/31/26, & to Increase the Maximum required by Indebtedness by an Additional $2,027,000 for a New Total Maximum Council Indebtedness Not-to-Exceed $2,577,000; Prov for Oversight by the Grants & Contract Compliance Div of the Finance & Admin Dept (Lopera) (Introduced by CMs Carlucci, Amaro, J. Carlucci, & Miller) (Co-Sponsor CM Peluso) 2/13/24 CO Introduced: NCSPHS, F 2/20/24 NCSPHS Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer 3/4/24 NCSPHS Amend/Approve 4-2 (Gay, Diamond) Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 Page 9 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 AMENDMENT 1. Clarify in legislation and attach Revised Exhibit 2 (Second Amendment to City Grant Agreement) to identify: - The new total maximum indebtedness under the agreement shall be the lesser of (i) $2,527,000 or (ii) 75 percent of the Project Budget less $50,000 in previously disbursed funds - Include Phase II Estimated Scope of Work 2. Correct Scrivener’s • City initially funded $50,000 towards the project, which has been paid and spent by the Jacksonville Historical Society • City then contributed an additional amount equal to the lesser of $500,000 or 29.1% of the project budget. City dollars have not been paid yet from the $500,000 appropriation. • The first amendment to the Agreement extended the contract termination date from 9/30/23 to 3/31/24 • In this legislation, City agrees to pay 75% of the renovation cost of the Florida Casket Company Building, up to a maximum of $2,577,000 (inclusive of the $50,000 previously paid) • Total project cost is budgeted at $3,441,000 for Phases I and II. Phase III (furnishings) or any additional phases are not yet funded. COMMENT Payments can be made for services performed or on a reimbursement basis each month for work done on a facility that is not owned or controlled by the City. A possibility exists where City dollars could be spent on a project that is not completed. However, there is a clawback provision that requires the Jacksonville Historical Society to pay back the City's funding if it is not operated as a Jacksonville Historical Center. Page 10 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 17. 2024-0120 ORD-MC re City & JEA Employees Entering Into Certain Military Svc; DEFER Amend Sec 116.501 (Military Leaves of Absence), Pt 5 (Military Leave), Ch 116 (Employees & Employee Benefits), Ord Code, to Extend the Amt of Time At request of City & JEA Employees May Remain on Active Pay Roll From 30 to 90 Days CM Diamond Upon Commencement of Certain Military Svc; Prov for Add’l Paid Leave for Certain City & JEA Employees Whose Spouses Are Ordered Into Certain Military Svc; Amend CR 2.202 (Attendance; Voting), Ch 2 (Committees), Council Rules, to Provide for Standing Excused Absences for Members Called Into Military Service; Amend CR 4.501 (Absence From Meetings), Ch 4 (Procedures), Council Rules, to Provide for Standing Excused Absences for Members Called Into Military Svc; Requiring Collective Bargaining; Prov for Codification Instructions; Prov for Severability (Granat) (Introduced by CM Diamond) (Co-Sponsors CMs Howland, Miller & Lahnen) 2/13/24 CO Introduced: R, F 2/20/24 R Read 2nd & Rerefer 2/21/24 F Read 2nd & Rerefer 2/27/24 CO PH Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 2/27/24 18. 2024-0156 RESO Apv & Auth the Execution of an Economic Dev Agrmt btwn the City & AMEND Proj Bobcat (“Company”), to Support the Creation of Company’s Operations at a New Facility to be Located in Jax; Auth a 5-Yr REV Grant Not to Exceed Contact: $1,500,000; Apv & Auth the Execution of Docs by the Mayor, or Her Desig, & Ed Randolph Corp Sec; Auth Appvl of Tech Amends by the Executive Dir of OED; Prov for Oversight by OED; Prov a Deadline for the Company to Execute the Agrmt; See Auditor Affirming the Proj’s Compliance with the Public Investment Policy Adopted by Summary on Ord 2022-726-E, as Amended; Req 2-Reading Passage Pursuant to C.R. 3.305 Pg. 21 (Sawyer) (Req of Mayor) 2/27/24 CO Introduced: F AMENDMENT: Attach Revised Exhibit 1 (Summary) to correct project completion dates and ROI 19. 2024-0160 ORD Approp $100,000 from the Council President’s Desig Contingency to 2nd Council Staff Svcs - Other Professional Svcs Acct for the Future Hiring or Retention of Legislative Counsel to the City Council Pursuant to Sec 7.01 of the City Charter & Ch 14 (Office of Legislative Counsel), Ord Code; Prov for Carryover to 9/30/25; Prov for Oversight by the City Council Staff Svcs (Staffopoulos) (Introduced by CM Salem) (Co-Sponsor CM Howland) 2/27/24 CO Introduced: R, F 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 11 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 20. 2024-0161 ORD Approp $122,500 from the Council President’s Desig Contingency to 2nd Various Accts within the Jax Public Library (JPL) for Relocation, Storage, Digitization & Preservation of City of Jax/Duval County Historical Records; Prov for Reverter of Funds; Apv, & Auth the Mayor, or Her Desig, & the Corp Sec to Execute & Deliver a MOU by & btwn the City & JPL Outlining the Terms, Conditions & Responsibilities of the Parties with Respect to Relocation, Storage, Digitization & Preservation of City of Jax/Duval County Historical Records; Prov for Oversight of the MOU by the City Council Staff Svcs & Oversight of Completion of the Work by JPL (Staffopoulos) (Introduced by CM Salem) 2/27/24 CO Introduced: R, F 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 12 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 21. 2024-0162 ORD Approp $1,500,000, Including $500,000 to We Care Jax, Inc. & EMERGENCY $1,000,000 to 6 Charitable Healthcare Clinics, from a Desig Contingency Acct to the Subsidies & Contributions to Private Orgs Acct for the Provision of AMEND Healthcare Services to Uninsured Residents of Duval County through the JaxCareConnect Prog; Prov for Carryover to FY 24-25; Invoking the Contact: Exemption in Sec 126.107(g) (Exemptions), Pt 1 (General Regulations), Ch CM Boylan 126 (Procurement Code), Ord Code, to Allow for a Direct Contract With We Care Jax, Inc. To Prov Comprehensive Fiscal Agent Svcs for the Prog; Apv, & 2/3 vote Auth the Mayor, or Her Desig, & Corp Sec to Execute & Deliver, for & on required by Behalf of the City, an Agrmt btwn the City & We Care Jax, Inc. For the Council Provision of Fiscal Agent Svcs for the Prog; Waiving Sec 118.107 (Nonprofits to Receive Funding Through a Competitive Evaluated Award Process), Pt 1 (General Provisions), Ch 118 (City Grants), Ord Code, to Allow for a Direct Contract With We Care Jax, Inc.; Invoking the Exemption in Sec 126.107(g) (Exemptions), Pt 1 (General Regulations), Ch 126 (Procurement Code), Ord Code, to Allow for Direct Contracts With Agape Community Health Center, Inc., (Agape), Westjax Outreach, Inc. (d/b/a Community Health Outreach) (Westjax), Muslim American Social Services, Inc. (MASS), Mission House, Inc. (Mission House), I.M. Sulzbacher Center for the Homelessness, Inc. (Sulzbacher), & Volunteers in Medicine Jacksonville, Inc. (VIM), for the Provision of Healthcare Svcs for the Prog; Apv, & Auth the Mayor, or Her Desig, & Corp Sec to Execute & Deliver, for and on Behalf of the City, Agrmts btwn the City Agape, Westjax, MASS, Mission House, Sulzbacher, & VIM for the Prog; Waiving Sec 118.107 (Nonprofits to Receive Funding Through a Competitive Evaluated Award Process), Pt 1 (General Provisions), Ch 118 (City Grants), Ord Code, to Allow for Direct Contracts With Agape, Westjax, MASS, Mission House, Sulzbacher, and VIM for the Prog; Prov for Oversight by the Grants & Contracts Compliance Div of the Finance & Admin Dept; Req 1-Cycle Emergency Passage (Staffopoulos) (Introduced by CM Boylan) 2/27/24 CO Introduced: NCSPHS, R, F 3/4/24 NCSPHS Emergency/Amend/Approve 6-0 3/4/24 R Emergency/Amend/Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 13 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 AMENDMENT 1. Include waiver of Code Sec. 118.805 to provide that receipt of City funding for the JaxCareConnect program will not impact eligibility to apply for funding under other City grant programs 2. Place revised term sheets on file to correct scrivener’s errors and program budgets • Appropriates funding from a designated contingency account to the following organizations for the JaxCareConnect program: - We Care Jacksonville - $500,000 (fiscal agent) - Agape Community Health Center - $166,666.67 (interpretive language services) - WestJax Outreach d/b/a Community Health Outreach - $166,666.67 (partner clinic) - Muslim American Social Services (MASS) - $166,666.67 (partner clinic) - Mission House - $166,666.66 (partner clinic) - I.M. Sulzbacher Center for the Homeless - $166,666.66 (partner clinic) - Volunteers in Medicine - $166,666.67 (partner clinic) • Authorizes a carryover of funding through FY 24/25 to allow funding to be spent during the contract term of 3/1/24 – 2/28/25 • Waives Code Sec. 118.107 (Nonprofits to receive funding through a competitive evaluated award process) in order to allow for direct contracts with We Care Jacksonville, Agape Community Health Center, WestJax Outreach, Muslim American Social Services, Mission House, I.M. Sulzbacher Center for the Homeless, and Volunteers in Medicine • A one cycle emergency has been requested in order to meet the immediate need to provide improved access to healthcare for the uninsured and under-resourced and allow City funds to be distributed more quickly 22. 2024-0163 ORD re the Moncrief Area Business Improvement Prog; Expanding the EMERGENCY Moncrief Area Business Improvement Prog - Phase 1 Geographic Area Estab in Ord 2021-282-E & Amended by Ord 2022-264-E; Renaming the Expanded AMEND Geographic Area as the “Myrtle-Moncrief-Avenue B Business Corridor” & Renaming the Prog as the “Myrtle-Moncrief-Avenue B Business Corridor Contact: Improvement Prog”; Auth the Carryover of Previously Approp Funds for the CM Pittman Prog in the Total Amt of $1,171,000 Until Expended or Through 9/30/27, Whichever Occurs 1st; Prov for Oversight by OED; Req 1 Cycle Emergency Passage (Staffopoulos) (Introduced by CM Pittman) (Co-Sponsor CM Carlucci) 2/27/24 CO Introduced: NCSPHS, R, F 3/4/24 NCSPHS Emergency/Amend/Approve 6-0 3/4/24 R Emergency/Amend/Approve 7-0 Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 14 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 AMENDMENT 1. Correct the expansion area to Moncrief Road from Voorhies Road to Avenue B 2. Attach revised Exhibit 2 (Program Guidelines) to provide for evaluation by the applicable District Council Member (District 10 or District 7) • Changes the name of the Moncrief Area Business Improvement Program to the “Myrtle-Moncrief-Avenue B Business Corridor Improvement Program” • Expands the Program area to include the commercial properties located along Moncrief Road from Voorhies Road to Avenue B • Revises the Program guidelines to 1) clarify grants will be provided on a reimbursement basis for eligible expenses as outlined in the contract and 2) exclude businesses who are in violation of the City of Jacksonville Ordinance Code or are noncompliant with federal, state, or local laws. • Authorizes the carryover of previously appropriated funding through 9/30/27 • A one cycle emergency has been requested in order to avoid potential loss of third party financial assistance 23. 2024-0164 ORD Adopting the City Council’s 1-Yr Strategic Plan; Setting the City 2nd Council’s Top Budget Priorities for the 24-25 FY; Encouraging the Mayor to Incorporate the Council Priorities Into the 24-25 Budget; Waiving the Provisions of Sec 106.110 (City Council Strategic Plan), Pt 1 (General Provisions), Ch 106 (Budget & Accounting Code), Ord Code, Requiring Submittal of the Strategic Plan With Corresponding Funding Requests to City Admin No Later Than 2/15 (Staffopoulos) (Introduced by the Finance Committee (CMs Howland, White, Arias, Carrico, Gaffney, Jr., Lahnen & Pittman)) 2/27/24 CO Introduced: R, F 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 24. 2024-0165 ORD Apv an Amendment to the Façade Renovation Grant Prog Appvd as Part 2nd of the Public Investment Policy of the OED to Provide That Grant Matching Dollars Will Not Be Required When a City-Appvd JSEB is Retained by an Eligible Business & Completes the Façade Renovation Work & to Increase the Total Amount of City Funding That May Be Provided in Level 1 & Level 2 Areas (Staffopoulos) (Introduced by CM J. Carlucci) 2/27/24 CO Introduced: R, F 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 15 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 25. 2024-0166 ORD Approp: (1) $300,000 from the Council President’s Designated 2nd Contingency, & (2) $200,000 from the Resiliency Infrastructure Improvements Proj Into the Planning & Development Resiliency Office - Other Professional Svcs Acct, for a Total of $500,000, in Order to Procure the Svcs of a Planning Consultant to Create an Urban Forestry Mgmt Plan (UFMP) for the City; Purpose of Approp; Amend the 24-28 5-Yr CIP Appvd by Ord 2023-505-E to Reflect This Approp of Funds; Prov for Carryover of Funds to FY 24-25; Prov for Oversight by the Planning & Development Dept (Grandin) (Introduced by CM Salem) 2/27/24 CO Introduced: NCSPHS, R, F 3/4/24 NCSPHS Read 2nd & Rerefer 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 26. 2024-0167 ORD Approp $800,000.00 from the Dept of Health for Maintenance & 2nd Renovations to the FL Dept of Health Central Health Plaza Bldg Located at 515 W 6th St; Amend the 24-28 5-Yr CIP Appvd by Ord 2023-505-E to Reflect this Approp of Funds to the Proj; Prov for Oversight by the Dept of Public Works, Public Bldgs Div (B.T. 24-069) (Wilson) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, F 3/4/24 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 27. 2024-0168 ORD Transferring $802,300.54 in Federal Grant Funds from Permanent & 2nd Probationary Salaries & Associated Fringe Benefits to Contractual Svcs to Expand the City’s Existing Contract with Family Foundations of Northeast Florida, Inc. to Provide Intervention & Prevention Svcs to High Risk Participants; Auth Positions; Invoking the Exemption in Sec 126.107 (e) (Exemptions), Pt 1 (General Regulations), Ch 126 (Procurement Code), Ord Code; Apv & Auth the Mayor, or her Designee, & the Corp Sec to Execute & Deliver on Behalf of the City an Agrmt btwn the City & Family Foundations of Northeast Florida, Inc.; Prov Oversight by the Grants & Contracts Compliance Div of the Finance & Administration Dept; Prov for Carryover of Funds to FY 24-25 (B.T. 24-048) (R.C. 24-075) (Wilson) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, R, F 3/4/24 NCSPHS Read 2nd & Rerefer 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 16 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 28. 2024-0169 ORD Approp $1,425,000.00 in Grant Funding from the U.S. DHS/ FEMA, 2nd Funded Through the FL Div of Emergency Mgmt, With No Local Match, to the Urban Area Security Initiative Grant, & to Fund 3 New Positions Within JFRD, Emergency Preparedness Prog; Auth Said Positions; Apv & Auth the Mayor, or Her Designee, & the Corp Sec to Execute & Deliver Agrmt No. R0928, Federal Award ID No. EMW-2023-SS-00058-S01, btwn DHS/FEMA & the City; Prov for City Oversight by JFRD, Emergency Preparedness Div (B.T. 24-062) (R.C. 24-074) (Wilson) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, R, F 3/4/24 NCSPHS Read 2nd & Rerefer 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 29. 2024-0170 ORD Approp $10,000,000.00 From Proj Contingency to Engineering & Design 2nd for Costs Associated With Major Renovations at the Municipal Stadium, & to Correct Various Acct Strings & Update Proj Information; Amend the 24-28 5-Yr CIP Appvd by Ord 2023-505-E to Reflect This Approp of Funds to the Proj (B.T. 24-063) (Wilson) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, R, F 3/4/24 NCSPHS Read 2nd & Rerefer 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 30. 2024-0171 ORD Approp $75,497.00 from the Mosquito Control State Fund 00112 Fund 2nd Bal to Be Used for Mosquito Control Div Operational Expenses, Including the Purchase of Equipment & Supplies, During FY 23-24 (B.T. 24-066) (Dillard) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, F 3/4/24 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 17 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 31. 2024-0172 ORD Apv & Auth the Parks, Rec & Community Svcs Dept Dir to Accept a 2nd Donation From the Placemaking & Equity Fund, Inc. For the Enhancement of Lift Ev’ry Voice & Sing Park in the Amount of $868,506.00, in Accordance With Sec 111.105(b), Ord Code, Which Donation Requires at Least $125,000.00 to Be Dedicated to the Construction of a Mist Fountain, $228,000.00 for Stage Construction & the Remainder to Be Expended on General Enhancement of the Lift Ev’ry Voice & Sing Park; Approp $868,506.00 From PROD Office of the Dir - Parks & Rec Contributions From Private Source to the CIP Proj Entitled “Parks QOL - Lift Eve’ry Voice & Sing Park” for Enhancements to the Park; Amend the 24-28 5-Yr CIP Appvd by Ord 2023-505-E to Reflect This Approp of Funds to the Proj (B.T. 24-059) (Wilson) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, F 3/4/24 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 32. 2024-0173 ORD Approp $2,162,000 From the Drainage System Rehabilitation & the 2nd Underdrain Replacements Projs to: (1) the Silver St Drainage Improvement Proj; (2) the Cain Ln & Able St Drainage Proj; (3) the Crest Dr Drainage Proj; (4) the Old Kings Rd Drainage Proj; (5) the Sunbeam Rd Drainage Proj; (6) the Saddle Rd Underdrain Repair Proj; & (7) the Reedy Branch Underdrain Repair Proj; Amend the 24-28 5-Yr CIP Appvd by Ord 2023-505-E to Reflect This Approp of Funds to the Proj (B.T. 24-061) (Wilson) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, F, TEU 3/4/24 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 33. 2024-0174 ORD Approp $1,435,385.00 in Grant Funding From the FL DOT Through the 2nd National Park Service to Pay for Construction of the Timuquan Trail - Segment C Along Fort Caroline Rd in Council Dist 1; Apv & Auth the Mayor, or Her Designee, & the Corp Sec, to Execute & Deliver a Local Agency Prog Agrmt, Financial Proj Nos. 441861-2-58-01 & 441861-2-68-02, btwn the State of FL DOT & the City; Amend the 24-28 5-Yr CIP Appvd by Ord 2023-505-E to Reflect This Approp of Funds to the Proj; Prov for Oversight by the Dept of Public Works, Engineering & Construction Mgmt Div (B.T. 24-064) (Wilson) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, F, TEU 3/4/24 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 18 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 34. 2024-0175 ORD-MC re the Mayor’s Reorg of the Executive Branch Pursuant to Ch 21 2nd (Executive Branch, Generally), Pt 2 (Executive Reorganization), Ord Code; Recitals; Creating a New Ch 23 (Central Services Department), Ord Code; Repealing in Their Entirety Pt 6 (Procurement Division), Pt 7 (Information Technologies Division), Pt 8 (Fleet Management Division), & Pt 9 (Grants & Contract Compliance Division), Ch 24 (Finance & Administration Department), Ord Code; Renaming & Amend Ch 24 (Finance & Administration Department), Ord Code; Amend Sec 26.201 (Economic Development) & Sec 26.202 (Office of International Trade), Pt 2 (Functions & Activities), Ch 26 (Economic Development), Ord Code; Creating a New Sec 26.204 (Jacksonville Film & Television Office) & 26.205 (Office of Equal Business Opportunity - Business Compliance), Pt 2 (Functions & Activities), Ch 26 (Economic Development), Ord Code; Creating a New Ch 27 (Sports & Entertainment Department), Ord Code; Repealing in Its Entirety Pt 2 (Sports & Entertainment Division), Ch 28 (Parks, Recreation & Community Services), Ord Code; Amend Sec 28.103 (Powers; Functions & Duties of Director); Pt 1 (General), Ch 28 (Parks, Recreation & Community Services), Ord Code; Creating a New Sec 31.102 (Deputy Fire Chief) & 31.103 (Administrative Services Chief), Pt 1 (Office of Director), Ch 31 (Fire & Rescue Department), Ord Code; Repealing in Their Entirety Pt 6 (Animal Care & Protective Services Division) & Pt 7 (Office of City Link/630-City), Ch 34 (Neighborhoods Department), Ord Code; Creating a New Ch 35 (Technology Solutions Department), Ord Code; Amend Sec 123.203 (Definitions), Pt 2 (Motion Photography Production Permits), Ch 123 (Public Fees), Ord Code; Amend Sec 126.604 (Definitions), Subpt A (General Provisions), Pt 6 (Jacksonville Small & Emerging Business Program), Ch 126 (Procurement Code), Ord Code; Approp $91,261.00 to Effectuate This Reorg; Purpose; Prov for Purpose; Auth Positions, Resulting From This Reorg; Apv the Updated 1Cloud Center List; Prov for an Org Chart; Prov for Transition; Prov That the Authority, Privileges, Rights, Duties, Obligations or Relationships of the City’s Constitutional Officers or Independent Agencies Will Not Be Diminished or Enhanced by This Ord; Auth the Council Auditor’s & General Counsel’s Office to Make Tech Amends; Prov for Severability; Prov for Codification Instruction (B.T. 24-071) (R.C. 24-085) (Hodges) (Req of Mayor) 2/27/24 CO Introduced: R, F 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 19 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 35. 2024-0176 ORD Approp $11,954.00 in Grant Funding from the FL DOT to Pay for 2nd Oversight of the Design of 5th St Over Six Mile Creek Bridge No. 724039, in Council Dist 9; Apv & Auth the Mayor, or Her Designee, & the Corp Sec, to Execute & Deliver a Local Agency Prog Agrmt, Financial Proj No. 437414-1-38-02, btwn the State of FL DOT & the City; Amend the 24-28 5-Yr CIP Appvd by Ord 2023-505-E to Reflect This Approp of Funds to the Proj; Prov for Oversight by the Dept of Public Works, Engineering & Construction Mgmt Div (B.T. 24-068) (Wilson) (Req of Mayor) 2/27/24 CO Introduced: NCSPHS, F, TEU 3/4/24 NCSPHS Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 36. 2024-0177 ORD Apv, & Auth the Mayor, or Her Designee, & the Corp Sec to Execute & 2nd Deliver, for & on Behalf of the City, a Roadway Jurisdiction Transfer (RJT) Agrmt btwn the City & FDOT Transferring From the State Highway System to the City a Portion of the R/W Known as University Blvd (Roadway ID 72110000) Including the Responsibility for the Operation, Maintenance, & Repair of the Roadway & Prov for Recording of R/W Maps in the Public Land Records by the City; Prov for City Oversight by the Engineering & Construction Mgmt Div of the Dept of Public Works (Dillard) (Req of Mayor) 2/27/24 CO Introduced: F, TEU Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 37. 2024-0178 ORD Declaring That Certain Parcel of Real Property (R.E. # 022605-0000) 2nd Located at 0 Bergmann Rd, in Council Dist 10, to Be Surplus to the Needs of the City; Prov for the Direct Sale of the Surplus Property & Requiring Grantee to Sign Site Access Agrmt; Waiving the Provisions of 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 for the Direct Sale of the Parcel to Alberta Williams at the Negotiated Sales Price of $4,493; Prov Auth to the Mayor & Corp Sec to Execute a Quit-Claim Deed (Wilson) (Introduced by CM Pittman) 2/27/24 CO Introduced: R, F, TEU 3/4/24 R Read 2nd & Rerefer Public Hearing Pursuant to Ch 166, F.S. & C.R. 3.601 - 3/12/24 Page 20 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 Council Auditor’s Office – Bill 2024-156: Project Bobcat Developer Name – Project Bobcat Project Location – 40 +/- acre lot, TBD Incentive Provided – • $1,500,000 5-year 50% REV Grant Performance Schedule – • Completion of improvements no later than 12/31/2026 • Completion of jobs no later than 12/31/28 Number of Jobs to be Created – 85 (no wage requirement) Number of Jobs to be Retained – n/a Capital Investment – $60,000,000 (new construction) 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 REV Grant • If by 12/31/26, the Developer fails to invest the amounts listed below, the City funding will be reduced by the corresponding amount: - Fails to invest at least $60,000,000 – REV grant reduced proportionately - Fails to invest at least $45,000,000 – REV grant is terminated and any amounts paid to the Developer will be repaid to the City • If the Developer fails to create 85 new jobs, and maintain them for the length of the REV grant, the REV grant payment in that year is reduced proportionately • If the Developer fails to create 68 new jobs, and maintain them for the length of the REV grant, the REV grant shall terminated OED has calculated an ROI of 4.10 for this project Page 21 of 22 Finance Committee Agenda - Revised Marked March 5, 2024 NOTE: The next regular meeting will be held Tuesday, March 19, 2024. *****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 22 of 22