SUBJECT
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Approve Polk County School Board’s request for release of Educational System Impact Fees. (No fiscal impact)
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DESCRIPTION
Under Polk County Impact Fee Ordinance 19-056, the Polk County School Board must submit a request to the Board of County Commissioners through the County Manager to request the release of Educational System Impact Fees collected on its behalf. Specifically, the School Board is requesting the release of $174,215,003.27 for the construction of:
(1) Elbert Elementary School - $12,000,000
Modernization at Elbert Elementary School (Winter Haven) that will create additional capacity for 268 student stations at a cost of $50,000,000 with $12,000,000 being attributed to added capacity for the school. The remaining $38,000,000 is being funded through the half-cent sales tax;
(2) Alta Vista Elementary School - $9,000,000
Modernization at Alta Vista Elementary School (Haines City) that will create additional capacity for 282 student stations at a cost of $54,000,000 with $9,000,000 being attributed to added capacity for the school. The remaining $45,000,000 is being funded through the half-cent sales tax;
(3) Wahneta Elementary School - $6,000,000
Modernization at Wahneta Elementary School (Winter Haven) that will create additional capacity for 125 student stations at a cost of $38,000,000 with $6,000,000 being attributed to added capacity for the school; The remaining $32,000,000 is being funded through the half-cent sales tax;
(4) New Northeast High School - $115,368,878.27
Polk County Public Schools seeks to construct a new 2,500 student high school in northeast Polk County in proximity to the Poinciana area. The initial budget has been set at $166,000,000 minus the property acquisition costs. Polk County Public Schools is initially seeking $115,368,878.27 to fund this high school and will be requesting the release of future Educational System Impact fees to fund the remaining balance. On June 15, 2021, the Board approved the release of $6,375,000 of Educational System Impact Fees for property acquisition for this newly proposed high school. To date, a site has not been acquired; and,
(5) Debt Service Pyaments - $31,846,125
Pursuant to Polk County Impact Fee Ordinance 19-056, repayment of monies transferred or borrowed from any budgetary fund of the County or the School Board which were used to fund growth-necessitated capital improvements to the Educational Plants or Ancillary Plants as defined in the ordinance, is a permissible use of Educational System Impact Fees. The debt service incurred with which Polk County Public Schools is seeking to use these Educational System Impact Fees as part of repayment, were in incurred in the form of bonds taken out by Polk County Public Schools for modernization projects that added overall student station capacity in the School District.
Pursuant to Section 6.04, Use of Educational System Impact Fees, the Office of Planning and Development has reviewed the request and finds it is a necessary growth-related capital project; it is an eligible expense under Section 6.04; and there are sufficient funds in the Educational System Impact Fee account at this time to fund the construction of the aforementioned improvements. The available balance of Educational System Impact Fees as of May 14, 2024, was $186,379,681.79. Educational System Impact Fees were last released by the Board to Polk County Public Schools on March 1, 2022 ($49,818,821), and prior to that on June 15, 2021 ($41,375,000).
The funds will be distributed over a nine-month period from May 2024 to January 2025 in accordance with the following:
• $70,000,000 - May 2024
• $7,000,000 - June 2024
• $7,000,000 - July 2024
• $7,000,000 - August 2024
• $7,000,000 - September 2024
• $7,000,000 - October 2024
• $7,000,000 - November 2024
• $7,000,000 - December 2024
• $55,215,003.27 - January 2025
RECOMMENDATION
Request Board approve the release of $174,215,003.27 of Educational System Impact Fee revenue as outlined in the distribution schedule above for the modernization and construction of additional capacity at: (1) Elbert Elementary ($12,000,000); (2) Alta Vista Elementary (9,000,000); (3) Wahneta Elementary ($6,000,000); (4) Construction of a new high school in northeast Polk County ($115,368,878.27); and, (5) Repayment of debt service bonds for modernization projects that added overall student station capacity in the School District.
FISCAL IMPACT
Funds are being held in an account reserved for collected Polk County School Board Educational System Impact Fee Revenue.
CONTACT INFORMATION
John M. Bohde, AICP
Director, Office of Planning & Development
(863) 534-6454
johnbohde@polk-county.net <mailto:johnbohde@polk-county.net>