Placement: Proclamations and Special presentations
Action Requested: Discussion
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Accept the Half-Cent Sales Tax FY 21/22 1st Quarter Projects Update
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Submitted By: Heath Stocton, P.E., Director, Public Works
Strategic Plan Link: The City's Goal of high-quality infrastructure and facilities.
Executive Summary (General Business): Staff will provide the City Council with an update, including highlights, graphics, and pictures of the progress and challenges of implementation of the Half-Cent Sales Tax Priority Projects.
Presentation Information: 15-minute PowerPoint Presentation by Heath Stocton.
Staff Recommendation: Request that the Council hear and accept the quarterly update.
Background: On November 6, 2018, voters approved Ballot Question #14, the referendum to levy a Half-Cent Sales Tax for a period of 10 years. Prior to approval of the tax, City Council adopted an Ordinance on September 24, 2018 approving a List of Priority Projects to be funded by the additional tax, including a contingency/participatory budget. Staff provides quarterly updates to Council on the progress of the projects as well as any issues encountered. The City’s Sales Tax Action Team (STAT) provided this update to the Infrastructure Sales Tax Citizens Oversight Committee on October 22, 2021 to enable the fulfillment of the requirements of the City of Port St. Lucie’s Ordinance 18-50 and Resolution 18-R95.
Issues/Analysis: City Staff is currently working with procurement to issue a contract for implementation of the adaptive signal coordination system along Port St. Lucie Boulevard with $1M in proceeds from a bond issuance. This will advance the implementation of the adaptive system by approximately seven (7) years and provide a savings to the Sales Tax fund of $900,000.
Financial Information: The City of Port St. Lucie will receive an estimated $88 million during the 2019-2028 tax period. To enable the City Council to have flexibility in programming revenue flow to priority project(s) scheduling, the Finance Department has identified an Advance-Funding Alternatives Program for use as deemed appropriate by the City Council. Revenues for the first quarter of FY22 continue to come in higher than projections.
Special Consideration: Staff recommends moving forward with the construction of Phase 2 of Floresta and tentatively schedule the construction of Phase 3 after the completion of Phase 2 in approximately 2 years.
Location of Project: Citywide
Attachments: PowerPoint Presentation
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: N/A
Legal Sufficiency Review:
N/A