At the May 2, 2017, Board of County Commissioners meeting, the board took the following action:
CAFR – received a very positive Palm Beach County Comprehensive Annual Financial Report (CAFR) from the Clerk & Comptroller’s Office. Record tourism and a recovered real estate market helped the county realize a record $1.82 billion in total revenue in 2016. For the first time, property tax revenue exceeded $1 billion. Palm Beach County is one of only 47 counties out of more than 3,000 in the nation to have a AAA bond rating from all three rating agencies.
Infrastructure surtax – approved a contract with Leo A. Daly Company in the approximate amount of $1.15 million for architectural/engineering design services associated with the Palm Beach County Sheriff’s Office headquarters renewal/replacement/renovation project. Funding is from the infrastructure sales surtax.
Pratt & Whitney – approved on preliminary reading and to advertise for public hearing on May 16 two economic incentive agreements with Pratt & Whitney: 1) an ad valorem tax exemption of up to $700,000 over a seven-year period and a cash incentive of $300,000 over a four-year period for Pratt & Whitney’s new Florida Engine Delivery Center in North County. The company is required to make a $63 million capital investment, create 230 new jobs over a 10-year period at an annual average wage of $81,000, and maintain those jobs for five years.
2) an ad valorem tax exemption of up to $650,000 over a six-year period for Pratt & Whitney’s radial Auxiliary Power Unit, relocated from San Diego. This agreement requires the company to make a minimum $25 million capital investment, create 110 new jobs over a three-year period at an annual average wage of approximately $85,000, and maintain them for five years.
Boca Lago – approved a property maintenance agreement with Boca Lago Country Club, Inc. conveying the county’s interest in 21 small preserve/conservation areas. The golf course is being reconfigured for residential development. The P/C areas have no significant environmental value, and Environmental Resources Management (ERM) has declined to assume maintenance responsibility. As a condition of the replat, the country club and the developer, Pulte Homes are responsible for maintaining the P/C areas; two will be combined into one and a conservation easement placed on it.
Royal Palm Place – adopted a resolution approving the issuance of up to $17 million in Housing Finance Authority
revenue bonds for Royal Palm Place, a 125-unit multifamily rental housing development in West Palm Beach for low- and moderate-income individuals and families. No county funds, nor its taxing power, faith or credit are involved.
Children’s Home Society – adopted a resolution ratifying conversion of interest rate modes in connection with Series 2008 variable rate demand revenue bonds for the Children’s Home Society of Florida project. The Children’s Home Society wishes to change the interest rate through a private placement with Fifth Third Bank as purchaser. No county funds, nor its taxing power, faith or credit are involved.
Jupiter Christian School – adopted a resolution amending certain terms of a Series 2011 industrial development revenue bond for the Jupiter Christian School project. The school and the owner of the bond, SunTrust Bank have requested an interest rate reduction. No county funds, nor its taxing power, faith or credit are involved.
Library – approved the use of the Acreage, Wellington, Jupiter, Greenacres, Lantana Road, Belle Glade and Main county branch libraries as sites for the Palm Beach County School District’s summer food service. There are no staffing or financial obligations for the Library District.
Interns – approved an agreement with CareerSource Palm Beach County, Inc. to provide interns, age 17-24, as they graduate from CareerSource’s structured work readiness program, to work alongside employees with the Youth Services Department. Interns may also be placed in other county departments to assist with filing, answering phones and other clerical duties. There is no cost to the county.
Emergency services – discussed possibly placing a referendum for a half-cent sales tax to fund fire rescue and other emergency services on the 2018 ballot.
Courthouse – agreed to name the main Palm Beach County Courthouse after retired Judge Daniel T.K. Hurley.