Okaloosa County BOCC — September 16, 2014 — reading text

3 Packet Pg. 567 Okaloosa County, Florida RFP Response Analysis Summary for: Capital Improvement Revenue Note, Series 2014 Friday, September 05, 2014 (1) (2) BBVA Compass SunTrust Scenario: 20 Year Bond Issue 25 Year Bond Issue 30 Year Bond Issue 15 Year 20 Year 10/1/2034 Final Maturity 10/1/2029 10/1/2034 10/1/2039 10/1/2044 (10 Year Put Option) Issue Detail (Series 2014) Project Amount $24,082,188 $22,237,588 $24,082,000 $24,082,000 $24,082,000 Average Annual Debt Service $2,272,325 $1,820,270 $1,815,767 $1,614,472 $1,487,388 Debt Service Reserve None $1,822,662 Surety Policy Surety Policy Surety Policy Total Net Debt Service $31,812,544 $32,762,476 $34,499,575 $38,747,325 $43,134,256 Par Amount $25,000,000 $25,000,000 $24,395,000* $23,985,000* $23,755,000* MADS (Series 2014) $2,274,193 $1,822,662 $1,818,431 $1,616,875 $1,489,750 TIC 3.390% 3.480% 3.394% 3.770% 4.000% All-Inclusive Cost 3.439% 3.519% 3.484% 3.844% 4.065% Dated Date 10/10/2014 10/10/2014 10/10/2014 10/10/2014 10/10/2014 (2) Final Maturity 10/1/2029 10/1/2034 10/1/2034 10/1/2039 10/1/2044 Make-Whole First 10 Standard 10 Year Standard 10 Year Standard 10 Year Call Feature Make-Whole Years & Par Thereafter Bond Call Feature Bond Call Feature Bond Call Feature - Preliminary / Subject to Change - All scenarios assume capitalized interest through 10/1/2015 - Estimated cost of issuance of approximately $90k for bank loan scenarios - Estimated cost of issuance of approximately $155k & $5.00/per bond underwriter discount for bond issue scenarios - Estimated Surety Policy of 3.00% for bond issue scenarios (1) - Assumes indicative rate from proposal as of 9/5/2014 (2) - Assumes full 20 year amortization and a cash funded debt service reserve - *Assumes premium bond structure 4 Packet Pg. 568  BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: September 16, 2014 TO: Honorable Chairman and Members of the Board FROM: Kay Godwin SUBJECT: GL, Aviation, Crime & WC Insurance Renewal DEPARTMENT: Human Resources BCC DISTRICT: All STATEMENT OF ISSUE: Request authority to bind coverage for the County’s General Liability, Aviation Liability, Public Officials Liability, Crime, Automobile, Excess Workers’ Compensation, and AD&D insurance and authorize staff to sign the application and related documents as required. BACKGROUND: Attached is a schedule of the recommended coverage and premiums for the County’s 2014-2015 insurance program. The total estimated premium for these policies is $489,538. The initial estimate received represented an increase of 6.13% in total premiums. Increasing the deductible for auto comp and collision resulted in a savings of approximately $15,000 annually. The proposed coverage represents an increase of approximately 2.92% in total premiums over last year. OPTIONS: Approve/Disapprove RECOMMENDATIONS: Authorize staff to bind the outlined coverage and to sign the applications and related required documents. RECOMMENDED BY: APPROVED BY: Ernie Padgett, County Administrator Packet Pg. 569  BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: September 16, 2014 TO: Honorable Chairman and Members of the Board FROM: Elliot Kampert SUBJECT: Public Transit Corridor Grant - Joint Participation Agreement FY15 - FDOT DEPARTMENT: Growth Management BCC DISTRICT: ALL STATEMENT OF ISSUE: The Department of Growth Management requests that the Board authorize the Chairman to sign the Joint Participation Agreement (JPA) FY 2015 for Urban Corridor Grant Funding, to approve Task Order No. 58 for reimbursement of operating cost to Okaloosa County Transit (OCT) and to sign the Authorizing Resolution. BACKGROUND: The Florida Department of Transportation has awarded Okaloosa County $200,000 in the attached JPA. Funds will be used to reimburse Okaloosa County Transit (OCT) for public transit operating expenses to serve the Destin area. No local match is required. However, the balance of the funds needed to operate the three routes ($172,079) is provided by a combination of FTA 5307 funds which are in turn matched by County funds. Farebox revenues are used to offset the operating cost of the route and are shown as agency participation. RECOMMENDATION: The Department of Growth Management requests that the Board authorize the Chairman to sign the attached JPA for FY 2015 Urban Corridor Funding, approve Task Order No. 58 And to sign the Authorizing Resolution and all future grant documents during the term of the grant. RECOMMENDED BY: APPROVED BY: Ernie Padgett, County Administrator Packet Pg. 570 Packet Pg. 571 Packet Pg. 572 Packet Pg. 573 Packet Pg. 574 Packet Pg. 575 Packet Pg. 576 Packet Pg. 577 Packet Pg. 578 Packet Pg. 579 Packet Pg. 580 Packet Pg. 581 Packet Pg. 582 Packet Pg. 583 Packet Pg. 584 Packet Pg. 585 Packet Pg. 586 Packet Pg. 587 Packet Pg. 588 Packet Pg. 589  AUTHORIZING RESOLUTION NO. 14- WHEREAS, the Florida Department of Transportation, hereinafter referred to as the DEPARTMENT has prepared a Joint Participation Agreement to provide Urban Corridor operating assistance to the Okaloosa County Board of County Commissioners, hereinafter referred to as the Agency, and WHEREAS, the DEPARTMENT has been authorized under Chapter 341.051(1)(a), Florida Statues, to enter into the Joint Participation Agreement and agrees to a maximum participation , including contingencies in the project amount of $200,000, and WHEREAS, the AGENCY has the authority to enter into the Joint Participation Agreement and to undertake the project. The AGENCY further agrees to the conditions upon which assistance will be provided and the understanding as to the manner in which the project will be undertaken, as outlined in the Joint Participation Agreement. Now Therefore, the AGENCY authorizes the Chairman to execute the Joint Participation Agreement th DULY PASSED AND ADOPTED in regular session this 16 day of September 2014. BOARD OF COUNTY COMMISSIONERS OKALOOSA COUNTY, FLORIDA ____________________________________ Charles K. Windes Jr., Chairman ATTEST CLERK OF CIRCUIT COURT Gary J. Stanford By: ____________________________ Deputy Clerk Packet Pg. 590 Packet Pg. 591 Packet Pg. 592 Packet Pg. 593  BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: September 16, 2014 TO: Honorable Chairman and Members of the Board FROM: Elliot Kampert SUBJECT: NSP CDC Amendment 7 DEPARTMENT: Growth Management BCC DISTRICT: ALL STATEMENT OF ISSUE: The Growth Management Department requests that the Board approve the attached Amendment No. 7 to the County’s contract (C10-1798-GM) with the Okaloosa Community Development Corporation pertaining to the Neighborhood Stabilization Program. This amendment will extend the expiration date to September 30, 2015, matching the County’s contract (10DB-4X-01-56-01-F 18) with the State of Florida Department of Economic Opportunity (DEO). It also will incorporate Modifications No. 10 to the County’s contract with the State of Florida DEO. BACKGROUND: Through the Neighborhood Stabilization Program, the Florida Department of Economic Opportunity (then Department of Community Affairs) allocated to Okaloosa County a total of $3,258,435. The Agreement between Okaloosa County BCC and Florida Department of Economic Opportunity (FDEO) was executed on November 24, 2009. Through the request for proposals process, the County selected the Okaloosa Community Development Corporation to act as its developer to utilize the NSP funds. The Okaloosa County BCC and Okaloosa CDC entered into a contract (C10-1798-GM) on April 20, 2010 to enable the CDC to begin utilizing these funds. On November 20, 2012, the FDEO awarded Okaloosa County an additional allocation of $301,917.73 of NSP program funds. The amendment will allow the CDC, as Okaloosa County's developer, to use these funds for activities as specified in the NSP workplan. No County funds are required for the implementation of this program. RECOMMENDATION: The Growth Management Department requests that the Board approve and authorize the Chairman to sign Amendment No. 7 to the NSP Agreement Contract Number C10-1798-GM, between Okaloosa County BCC and Okaloosa County Community Development Corporation. RECOMMENDED BY: Packet Pg. 594 APPROVED BY: Ernie Padgett, County Administrator Packet Pg. 595 Packet Pg. 596 Packet Pg. 597 Packet Pg. 598 Packet Pg. 599 Packet Pg. 600 Packet Pg. 601  BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: September 16, 2014 TO: Honorable Chairman and Members of the Board FROM: Elliot Kampert SUBJECT: Approval of Designation of Signature Authority and Attorney Access for TEAM Access DEPARTMENT: Growth Management