CULTURAL DIVISION RECOMMENDS APPROVAL OF THE ABOVE MOTIONS.
This item supports the Board’s value of "Cultivating community culture, arts, recreation and life-long learning" and goals relating to providing diverse artistic, cultural, educational and historical amenities and programs that contribute to a vibrant, multi-cultural and economically-viable community.
MOTION A
The Tri-Party Agreement (Agreement) (Exhibit 2) provides for the County and the City of Fort Lauderdale to make cash and in-kind service contributions toward the operations of PACA's Broward Center for the Performing Arts and in-kind legal services for the overall operation of PACA.
Section 4.2.1 of the Agreement includes an operating subsidy of $950,000 to be paid quarterly in increments of $237,500 by the County to PACA as detailed in Section 5.1.1. These funds have already been included in the County's adopted Fiscal Year 2018 budget on September 26, 2017.
Section 4.2.2 of the Agreement, which governs in-kind legal services provided by the County Attorney's Office, allows for up to 500 hours of professional legal services in connection with specified matters.
The City of Fort Lauderdale’s contribution as listed in Section 4.3 of the Agreement is valued at $354,000, which includes net parking garage revenues from the Arts and Science Parking Garage in an amount not to exceed $300,000, at least $30,000 in in-kind landscape maintenance services, and reimbursements for waste removal services not to exceed $24,000, as applicable.
MOTION B
This agenda also approves PACA's total Fiscal Year 2018 budget (Exhibit 3) in the amount of $84,608,362. In accordance with the PACA’s Special Act, PACA's annual budget is subject to approval by the City and by the County after approval by PACA. PACA's Board approved its Fiscal Year 2018 budget on September 7, 2017, the City approved the budget at their commission meeting on October 3, 2017, and the Agreement was executed on October 9, 2017 by the City.
The County Attorney's Office has approved the Agreement as to form and the Risk Management Division has reviewed and approved the insurance requirements.
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