MEETING #10 AGENDA SCHOOL IMPACT FEE BENEFIT DISTRICT ADVISORY COMMITTEES Meeting Date: April 6, 2015 Meeting Time: 2:30 PM Meeting Location: Facilities Conference Room (804B) / ESF 1. Call to Order Steve Swanke 2. Roll Call Steve Swanke 3. Pledge of Allegiance Steve Swanke 4. General Information Dane Theodore a. Interlocal Agreement b. Benefit District Map c. Committee Member List d. District Facilities Work Program 5. Financial Information Dane Theodore a. Annual Report (6/30/2014) b. Remaining Eligible Debt c. COP Payment Schedules d. Available Impact Fees (6/30/2014) e. Master Spreadsheet 6. Recommendations Dane Theodore a. Benefit District 1 b. Benefit District 2 c. Benefit District 3 d. Benefit District 4 7. Other Business a. 2013Audit Steve Swanke / Dane Theodore b. 2014 Impact Fee Update Study Steve Swanke / Dane Theodore c. Request to Consolidate Benefit Districts Dane Theodore d. Next Meeting 8. Adjourn Page 1 of 1
School Site School Board of Brevard County Schools Financed by Certificate of Participation (COP) Construction Cost of New Student Stations Eligible Costs Funded with Other Restricted Monies Remaining Impact Fee Eligible Costs of Construction Interest on Debt for New Student Stations Incurred Through 6-30-14 Total Impact Fee Eligible Costs of New Student Stations Received to Date Eligible Costs Remaining to be Reimbursed Benefit District 1 Bayside High $2,998,018 $0 $2,998,018 $938,486 $3,936,504 Heritage High $74,030,115 $7,412,431 $66,617,684 $17,871,389 $84,489,073 Meadowlane Intermediate $23,781,467 $15,108,629 $8,672,838 $0 $8,672,838 Palm Bay High $972,197 $0 $972,197 $544,243 $1,516,440 Sunrise Elementary $15,381,321 $1,749,780 $13,631,541 $4,907,549 $18,539,090 Melbourne High $7,481,901 $0 $7,481,901 $2,342,099 $9,824,000 Total to June 30, 2013 $124,645,019 $24,270,840 $100,374,179 $26,603,766 $126,977,945 $36,688,472 $90,289,473 Benefit District 2 Cocoa Beach Jr/Sr High $1,234,506 $0 $1,234,506 $444,439 $1,678,945 Eau Gallie High $1,814,223 $0 $1,814,223 $0 $1,814,223 Johnson Middle $1,739,638 $0 $1,739,638 $626,294 $2,365,932 Satellite High $1,977,776 $0 $1,977,776 $619,114 $2,596,890 Viera High $47,226,388 $0 $47,226,388 $18,572,543 $65,798,931 West Shore Jr/Sr High $4,687,727 $0 $4,687,727 $1,467,423 $6,155,150 Total to June 30, 2013 $58,680,258 $0 $58,680,258 $21,729,813 $80,410,071 $9,374,265 $71,035,806 Benefit District 3 Merritt Island High $9,196,263 $0 $9,196,263 $2,878,755 $12,075,018 Rockledge High $5,040,658 $2,150,000 $2,890,658 $1,222,536 $4,113,194 Stevenson Elementary $3,377,126 $0 $3,377,126 $1,215,814 $4,592,940 Edgewood Jr/Sr High $4,739,529 $0 $4,739,529 $1,706,299 $6,445,828 Total to June 30, 2013 $22,353,576 $2,150,000 $20,203,576 $7,023,404 $27,226,980 $9,152,820 $18,074,160 Benefit District 4 Imperial Estates Elementary $2,534,452 $0 $2,534,452 $912,439 $3,446,891 Mims Elementary $2,471,149 $0 $2,471,149 $889,649 $3,360,798 Titusville High $10,519,771 $0 $10,519,771 $3,787,268 $14,307,039 Space Coast Jr/Sr High $8,659,430 $0 $8,659,430 $3,117,518 $11,776,948 Total to June 30, 2013 $24,184,802 $0 $24,184,802 $8,706,874 $32,891,676 $9,661,236 $23,230,440 Grand Totals $229,863,655 $26,420,840 $203,442,815 $64,063,857 $267,506,672 $64,876,793 $202,629,879 Financial Services / KJ Date provided to the Impact Fee Benefit District Advisory Committees: 04/06/15
SCHOOL BOARD OF BREVARD COUNTY Certificates of Participation FY 14-15 Debt Payment Schedule COP January 2015 July 2015 Total Payment 1992A 0 0 0 1996A 0 0 0 2002A 0 0 0 2004A 0 0 0 2004B 132,523 6,842,523 6,975,046 2006A* 1,023,502 1,571,875 2,595,377 2007A 838,100 868,100 1,706,200 2007B 1,631,331 1,302,206 2,933,537 2007C 2,523,525 3,520,563 6,044,088 2008A 1,414,000 1,414,000 2,828,000 2013A 2,122,981 2,122,981 4,245,962 2013B 477,062 2,662,062 3,139,124 2014 584,753 1,525,444 2,110,197 2015B 0 183,105 183,105 2015C 0 1,803,216 1,803,216 Totals 10,747,777 23,816,075 34,563,852 Certificates of Participation FY 15-16 Debt Payment Schedule COP January 2016 July 2016 Total Payment 1992A 0 0 0 1996A 0 0 0 2002A 0 0 0 2004A 0 0 0 2004B 0 0 0 2006A* 0 0 0 2007A 837,500 3,577,500 4,415,000 2007B 1,302,206 1,302,207 2,604,413 2007C 175,375 3,595,375 3,770,750 2008A 1,414,000 1,414,000 2,828,000 2013A 2,122,981 2,122,981 4,245,962 2013B 466,093 10,041,093 10,507,186 2014 1,525,444 1,525,444 3,050,888 2015B 302,375 302,375 604,750 2015C 2,139,600 2,139,600 4,279,200 Totals 10,285,574 26,020,575 36,306,149 Financial Services / clk 3/24/2015
SCHOOL IMPACT FEE ANALYSIS Total - All Districts Cumulative Collections through 6/30/14 Brevard County $ 21,778,589.05 Cape Canaveral $ 481,988.85 Cocoa $ 1,229,089.60 Cocoa Beach $ 250,974.50 Grant/Valkaria $ 489,756.00 Indialantic $ 28,958.60 Indian Harbour Beach $ 275,233.65 Malabar $ 402,880.25 Melbourne $ 9,525,727.65 Melbourne Beach $ 26,672.40 Melbourne Village $ 17,781.60 Palm Bay $ 25,039,112.45 Palm Shores $ 160,034.40 Rockledge $ 4,802,428.00 Satellite Beach $ 696,784.80 Titusville $ 6,368,225.42 West Melbourne $ 7,526,569.70 Interest Earned $ 1,836,794.89 Retained for Administration $ (1,758,356.33) Total Revenues $ 79,179,245.48 Disbursements to School Board $ 64,876,793.36 Prior Year Refunds $ 284,759.61 Disbursements to Odyssey Charter School $ 1,492,682.39 $ - Disbursements to the Viera Company $ 7,819,000.00 $ - Total Expenditures $ 74,473,235.36 Available for Appropriation $ 4,706,010.12 Brevard County / SS 12/18/2014
Brevard County Public Schools School Impact Fee Status as of June 30, 2014 Request for Available Funds and Transfers - April 6, 2015 DESCRIPTION COLLECTED BY COUNTY REQUESTS AMOUNT USE REC'D COMMENTS BENEFIT DISTRICT 1 Brevard County $ 2,292,486.77 Grant/Valkaria $ 489,756.00 Indialantic $ 28,958.60 Malabar $ 402,880.25 Melbourne $ 3,881,594.80 Melbourne Beach $ 26,672.40 Melbourne Village $ 17,781.60 Palm Bay $ 25,039,112.45 West Melbourne $ 7,526,569.70 Interest Earned $ 1,023,317.74 Retained for Administration $ (804,571.13) Total Revenues $ 39,924,559.18 Disbursements to School Board $ 36,688,472.50 Prior Year Refunds $ 151,651.65 Disbursements to Odyssey Charter School $ 1,492,682.39 Total Expenditures $ 38,332,806.54 Available for Appropriation $ 1,591,752.64 Balance Remaining $0.00 $ - Site Acquisition 3/31/2006 Moved $2,000,000 to Elementary School "T" on 5/12/06 $ 3,010,253.04 Elementary School "T" 3/31/2006 Partial funding $ 2,000,000.00 Elementary School "T" 5/12/2006 Moved $2,000,000 from Site Acquisition on 5/12/06 $ 4,921,287.00 Elementary School "T" 6/22/2006 Additional partial funding $ 1,000,000.00 Bayside HS 3/29/2007 Funding for 10 classrooms and 2 music labs. $ 3,600,000.00 High School "CCC" 3/29/2007 Site acquisition for new High School CCC $ 1,643,317.00 High School "CCC" 3/29/2007 Partial funding for new High School CCC $ 4,390,705.67 High School "CCC" 8/21/2007 Additional partial funding for new High School CCC $ 1,500,000.00 Palm Bay HS Moved $1,500,000 from Bayside HS on 5/12/06 11/28/2007 (funding for 7 classrooms) $ 2,718,311.29 High School "CCC" 3/27/2008 Additional partial funding for new High School CCC $ 1,581,538.00 High School "CCC" 10/6/2008 Additional partial funding for new High School CCC $ - Debt Service 2/1/2010 Transferred $1,000,000 from Bayside HS for Debt Service $ 266,090.49 Debt Service 2/1/2010 Debt Service $ 2,835,508.00 Debt Service 2/1/2010 Debt Service $ 1,414,000.00 Debt Service 2/1/2010 Debt Service $ 1,826,423.56 Debt Service 7/26/2011 Debt Service $ - Debt Service 7/26/2011 Transferred $11,155.23 from Palm Bay HS for Debt Service $ 3,981,038.45 Debt Service 10/24/2013 Debt Service $ 1,314,107.13 Debt Service 10/24/2013 Transfer of remaining funds in Heritage HS for Debt Service $ 313,497.52 Debt Service Transfer of remaining funds in Meadowlane Intermediate ES 10/24/2013 (Elementary School "T") for Debt Service $ 885,742.52 Debt Service Debt Service $ 706,010.12 South Area ES Partial Funding for new elementary school $ 293,794.45 Debt Service Interest for Debt Service $ 1,258,701.58 Debt Service Transfer of ADDITIONAL remaining funds in Meadowlane Intermediate ES (Elementary School "T") for Debt Service Facilities Services / DGT April 6, 2015 Page 1 of 5
Brevard County Public Schools School Impact Fee Status as of June 30, 2014 Request for Available Funds and Transfers - April 6, 2015 DESCRIPTION COLLECTED BY COUNTY REQUESTS AMOUNT USE REC'D COMMENTS BENEFIT DISTRICT 2 Brevard County $ 7,316,874.04 Cape Canaveral $ 481,988.85 Cocoa Beach $ 250,974.50 Indian Harbour Beach $ 275,233.65 Melbourne $ 5,644,132.85 Palm Shores $ 160,034.40 Satellite Beach $ 696,784.80 Interest Earned $ 238,232.13 Retained for Administration $ (498,602.41) Total Revenues $ 14,565,652.81 Disbursements to School Board $ 9,374,264.79 Prior Year Refunds $ 17,781.60 Disbursements to the Viera Company $ 3,615,683.90 Total Expenditures $ 13,007,730.29 Available for Appropriation $ 1,557,922.52 Balance Remaining $0.00 $ 1,350,000.00 Johnson MS 3/31/2006 Funding for 8-classroom addition $ 1,404,846.00 Satellite HS 6/22/2006 Partial funding of 4 Science Labs $ 169,954.00 Satellite HS 3/29/2007 Balance of $1,574,800 funding for 4 Science Labs $ 636,954.00 Cocoa Beach HS 3/29/2007 Partial funding for 1 Art Lab and 2 Drama Labs $ 163,046.00 Cocoa Beach HS 8/21/2007 Balance of $800,000 funding for 1 Art Lab and 2 Drama Labs $ 721,890.00 West Shore Jr/Sr HS 3/27/2008 Funding for 2 science labs and 2 classrooms $ 827,657.85 Eau Gallie HS 3/27/2008 Partial funding for Music Addition $ 249,193.30 Eau Gallie HS 10/6/2008 Additional partial funding for Music Addition $ - 2006A COP 10/27/2009 Transferred $496,941 from Johnson MS for Debt Service $ 856,306.58 2007C COP 2/1/2010 Debt Service $ 622,199.22 Suntree ES 7/26/2011 Funding for 10-Classroom Addition $ - Suntree ES 7/26/2011 Transferred $22,232.20 from Johnson MS for 10-Classroom Addition $ - Suntree ES Transferred $686,321.91 from Cocoa Beach Jr/Sr HS for 10-7/26/2011 Classroom Addition $ - Suntree ES 7/26/2011 Transferred $3,250.04 from West Shore Jr/Sr HS for 10-Classroom $ 2,372,217.84 Debt Service 10/24/2013 Debt Service $ 1,044,378.58 Debt Service 10/24/2013 Transfer from Suntree ES for Debt Service $ 289,624.79 Central Area ES 10/24/2013 Transfer from Suntree ES to Central Area ES $ (9,778.79) Central Area ES Correction to previous ($22,232.20) transfer from Johnson MS to 10/24/2013 Suntree ES $ 315,890.78 Central Area ES 10/24/2013 Transfer of remaining funds in Eau Gallie HS to Central Area ES $ 1,557,922.52 Debt Service Debt Service $ 64,628.11 Debt Service Interest for Debt Service Facilities Services / DGT April 6, 2015 Page 2 of 5
Brevard County Public Schools School Impact Fee Status as of June 30, 2014 Request for Available Funds and Transfers - April 6, 2015 DESCRIPTION COLLECTED BY COUNTY REQUESTS AMOUNT USE REC'D COMMENTS BENEFIT DISTRICT 3 Brevard County $ 8,383,070.87 Cocoa $ 1,229,089.60 Rockledge $ 4,802,428.00 Interest Earned $ 323,095.03 Retained for Administration $ (279,915.07) Total Revenues $ 14,457,768.43 Disbursements to School Board $ 9,152,820.16 Prior Year Refunds $ 33,531.00 Disbursements to the Viera Company $ 4,203,316.10 Total Expenditures $ 13,389,667.26 Available for Appropriation $ 1,068,101.17 Balance Remaining $0.00 $ 891,778.73 Stevenson ES 3/31/2006 Partial funding of 10-classroom addition $ 858,221.00 Stevenson ES 6/22/2006 Balance of $1,750,000 funding for 10-classroom addition $ 556,916.00 Elementary School "U" 6/22/2006 Partial funding for new elementary school $ 1,099,839.00 Merritt Island HS 3/29/2007 Partial funding for new classroom / science lab building $ 948,348.44 Merritt Island HS 8/21/2007 Additional partial funding for new classroom / science lab building. $ 869,091.35 Elementary School "U" 3/27/2008 Additional partial funding for new elementary school $ 85,856.93 Elementary School "U" 10/6/2008 Additional partial funding for new elementary school $ - 2007C COP 10/27/2009 Transferred $2,048,187 from Merritt Island HS for Debt Service $ - 2007C COP 10/27/2009 Transferred $1,511,864 from Elementary School "U" for Debt Service $ 1,632,670.87 2006A COP 2/1/2010 Debt Service $ 763,049.21 Williams ES 7/26/2011 Funding for 10-Classroom Addition $ - Williams ES Transferred $479,679.37 from Stevenson ES for 10-Classroom 7/26/2011 Addition $ - Williams ES Transferred $9,251.22 from Merritt Island HS for 10-Classroom 7/26/2011 Addition $ 1,447,048.63 Debt Service 10/24/2013 Debt Service $ 1,034,850.50 Debt Service 10/24/2013 Transfer from Williams ES for Debt Service $ 217,129.30 Debt Service 10/24/2013 Transfer from Williams ES for Debt Service Correction to previous ($9,251.22) transfer from Merritt Island HS to $ (11,409.10) Debt Service 10/24/2013 Williams ES $ 1,068,101.17 Debt Service Debt Service $ 69,029.44 Debt Service Interest for Debt Service Facilities Services / DGT April 6, 2015 Page 3 of 5
Brevard County Public Schools School Impact Fee Status as of June 30, 2014 Request for Available Funds and Transfers - April 6, 2015 DESCRIPTION COLLECTED BY COUNTY REQUESTS AMOUNT USE REC'D COMMENTS BENEFIT DISTRICT 4 Brevard County $ 3,786,157.37 Titusville $ 6,368,225.42 Interest Earned $ 252,149.99 Retained for Administration $ (175,267.71) Total Revenues $ 10,231,265.07 Disbursements to School Board $ 9,661,235.91 Prior Year Refunds $ 81,795.36 Total Expenditures $ 9,743,031.27 Available for Appropriation $ 488,233.80 Balance Remaining $0.00 $ 1,387,454.31 Imperial Estates ES 3/31/2006 Partial funding of 10-classroom addition $ 362,546.00 Imperial Estates ES 6/22/2006 Balance of $1,750,000 funding of 10-classroom addition $ 1,294,986.00 Mims ES 6/22/2006 Partial funding of 10-classroom addition $ 455,014.00 Mims ES 3/29/2007 Balance of $1,750,000 funding for 10-classroom addition $ 1,000,129.00 Middle School EE 3/29/2007 Partial funding for new middle school $ 923,356.50 Middle School EE 8/21/2007 Additional partial funding for new middle school $ 1,098,115.56 Middle School EE 3/27/2008 Additional partial funding for new middle school $ 743,458.17 Middle School EE Additional partial funding for new middle school 10/6/2008 Requested on 6/26/08 $ - Debt Service 10/27/2009 Transferred $32,662 from Imperial Estates ES for Debt Service $ - Debt Service 10/27/2009 Transferred $140,619 from Mims ES for Debt Service $ - Debt Service 10/27/2009 Transferred $3,765,059 from Middle School "EE" for Debt Service $ 1,428,978.86 Debt Service 2/1/2010 Debt Service $ 467,102.34 Debt Service 7/26/2011 Debt Service $ 500,095.17 Debt Service 10/24/2013 Debt Service $ 21,187.96 Debt Service 10/24/2013 Transfer of remaining funds in Mims ES for Debt Service $ 488,233.80 Debt Service Debt Service $ 82,314.21 Debt Service Interest for Debt Service Facilities Services / DGT April 6, 2015 Page 4 of 5
Brevard County Public Schools School Impact Fee Status as of June 30, 2014 Request for Available Funds and Transfers - April 6, 2015 DESCRIPTION COLLECTED BY COUNTY REQUESTS AMOUNT USE REC'D COMMENTS Impact Fee Program Data Total collections to date $ 79,100,806.92 Total interest to date $ 1,836,794.89 Total administration costs to date $ (1,758,356.33) Total credits to date $ (9,596,442.00) Total received to date $ (64,876,793.36) Total available $ 4,706,010.12 Total requested $ 4,706,010.12 Balance remaining as of 6/30/14 $ - Request Data New impact fees this request $ 4,706,010.12 Interest this request $ 509,766.21 Transfers this request $ 1,258,701.58 Total this request $ 6,474,477.91 New impact fees to debt service $ 4,000,000.00 Interest to debt Service $ 509,766.21 Transfers to debt Service $ 1,258,701.58 Total to debt service $ 5,768,467.79 New impact fees to South Area ES $ 706,010.12 Facilities Services / DGT April 6, 2015 Page 5 of 5
BREVARD COUNTY SCHOOL DISTRICT 2014-2015 Work Plan Item Name 2014-2015 Budget 2015-2016 Projected 2016-2017 Projected 2017-2018 Projected 2018-2019 Projected Five Year Total CO & DS Revenue $400,610 $400,610 $400,610 $400,610 $400,610 $2,003,050 PECO New Construction Revenue $0 $0 $0 $0 $0 $0 Other/Additional Revenue $26,046,179 $19,926,000 $13,031,000 $7,157,000 $3,787,000 $69,947,179 Total Additional Revenue $26,446,789 $20,326,610 $13,431,610 $7,557,610 $4,187,610 $71,950,229 Total Available Revenue $19,446,805 $11,654,170 $6,530,170 $3,161,770 $3,376,330 $44,169,245 Project Schedules Capacity Project Schedules A schedule of capital outlay projects necessary to ensure the availability of satisfactory classrooms for the projected student enrollment in K-12 programs. Project Description Location 2014-2015 2015-2016 2016-2017 2017-2018 2018-2019 Total Funded New Central Area Elementary School Location not specified Planned Cost: $0 $0 $0 $620,495 $19,500,000 $20,120,495 No Student Stations: 0 0 0 0 895 895 Total Classrooms: 0 0 0 0 47 47 Gross Sq Ft: 0 0 0 0 111,000 111,000 New South Area Elementary School Location not specified Planned Cost: $0 $0 $0 $620,495 $19,500,000 $20,120,495 No Student Stations: 0 0 0 0 895 895 Total Classrooms: 0 0 0 0 47 47 Gross Sq Ft: 0 0 0 0 111,000 111,000 Planned Cost: $0 $0 $0 $1,240,990 $39,000,000 $40,240,990 Student Stations: 0 0 0 0 1,790 1,790 Total Classrooms: 0 0 0 0 94 94 Gross Sq Ft: 0 0 0 0 222,000 222,000 Other Project Schedules Major renovations, remodeling, and additions of capital outlay projects that do not add capacity to schools. Page 8 of 25 9/25/2014 8:00:35 AM
SCHOOL IMPACT FEE ADVISORY COMMITTEE MEETING #10 APRIL 6, 2015 BENEFIT DISTRICT 1 RECOMMENDATION 1 AMOUNT VOTE Use a portion of the available new funds to pay debt service $885,742.52 Grant-Valkaria / No Representative N/A Indialantic / Christopher Chinault Malabar / Philip Crews Melbourne / Cindy Dittmer Palm Bay / William Capote Absent West Melbourne / Christy Fischer RECOMMENDATION 2 AMOUNT VOTE Use a portion of the available new funds for partial funding of a new South Area $706,010.12 Elementary School Grant-Valkaria / No Representative N/A Indialantic / Christopher Chinault Malabar / Philip Crews Melbourne / Cindy Dittmer Palm Bay / William Capote Absent West Melbourne / Christy Fischer Page 1 of 2
RECOMMENDATION 3 AMOUNT VOTE Use interest to pay debt service $293,794.45 Grant-Valkaria / No Representative N/A Indialantic / Christopher Chinault Malabar / Philip Crews Melbourne / Cindy Dittmer Palm Bay / William Capote Absent West Melbourne / Christy Fischer RECOMMENDATION 4 AMOUNT VOTE Transfer the ADDITIONAL remaining funds in Meadowlane Intermediate ES (Elementary School "T") to pay debt $1,258,701.58 service Grant-Valkaria / No Representative N/A Indialantic / Christopher Chinault Malabar / Philip Crews Melbourne / Cindy Dittmer Palm Bay / William Capote Absent West Melbourne / Christy Fischer The use of funds recommended above is in compliance with Paragraph 2.4 of the Interlocal Agreement between Brevard County, Florida and the District School Board of Brevard County, Florida for Funding of New or Expanded Public Education Facilities with Educational Facilities Impact Fees. Page 2 of 2
SCHOOL IMPACT FEE ADVISORY COMMITTEE MEETING #10 APRIL 6, 2015 BENEFIT DISTRICT 2 RECOMMENDATION 1 AMOUNT VOTE Use the available new funds to pay debt service $1,557,922.52 Cape Canaveral / Buzz Petsos Cocoa Beach / Aphi Fancon Indian Harbour Beach / Mark Ryan Melbourne / Cindy Dittmer Palm Shores / No Representative N/A Satellite Beach / Courtney Barker RECOMMENDATION 2 AMOUNT VOTE Use interest to pay debt service 64,628.11 Cape Canaveral / Buzz Petsos Cocoa Beach / Aphi Fancon Indian Harbour Beach / Mark Ryan Melbourne / Cindy Dittmer Palm Shores / No Representative N/A Satellite Beach / Courtney Barker The use of funds recommended above is in compliance with Paragraph 2.4 of the Interlocal Agreement between Brevard County, Florida and the District School Board of Brevard County, Florida for Funding of New or Expanded Public Education Facilities with Educational Facilities Impact Fees. Page 1 of 1
SCHOOL IMPACT FEE ADVISORY COMMITTEE MEETING #10 APRIL 6, 2015 BENEFIT DISTRICT 3 RECOMMENDATION 1 AMOUNT VOTE Use the available new funds to pay debt service $1,068,101.17 Cocoa / Steve Belden Rockledge / David Henderson RECOMMENDATION 2 AMOUNT VOTE Use interest to pay debt service 69,029.44 Cocoa / Steve Belden Rockledge / David Henderson The use of funds recommended above is in compliance with Paragraph 2.4 of the Interlocal Agreement between Brevard County, Florida and the District School Board of Brevard County, Florida for Funding of New or Expanded Public Education Facilities with Educational Facilities Impact Fees. Page 1 of 1
SCHOOL IMPACT FEE ADVISORY COMMITTEE MEETING #10 APRIL 6, 2015 BENEFIT DISTRICT 4 RECOMMENDATION 1 AMOUNT VOTE Use the available new funds to pay debt service $488,233.80 Titusville / Peggy Busacca RECOMMENDATION 2 AMOUNT VOTE Use interest to pay debt service $82,314.21 Titusville / Peggy Busacca The use of funds recommended above is in compliance with Paragraph 2.4 of the Interlocal Agreement between Brevard County, Florida and the District School Board of Brevard County, Florida for Funding of New or Expanded Public Education Facilities with Educational Facilities Impact Fees. Page 1 of 1