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Project Development Grant Agreement With Duke Energy Florida, LLC; and Professional Services Agreement With Tampa Bay Regional Planning Council for Creation of Industrial Land Use Strategy Report for Economic Development
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BRIEF OVERVIEW
The Office of Economic Development requests to engage the Tampa Bay Regional Planning Council (TBRPC) to conduct an analysis of the County’s industrial lands and strategies. The analysis will provide guidance to ensure enough industrial land is preserved to support future employment growth and successful economic development.
The attached proposal from TBRPC will provide the County with answers to three central questions; these are:
1. How much vacant or underutilized industrial land does Hernando County have?
2. How does the supply of vacant industrial land compare to the likely future demand for it?
3. What are the leading land use and planning strategies to conserve existing industrial land and to better utilize them?
To cover the $25,000 cost of the study, the Office of Economic Development seeks approval of a Project Development Grant Agreement with Duke Energy Florida, LLC for $12,500, with the remaining $12,500 to come as a grant from Hernando Progress, Inc., pursuant to the commitment attached to the Duke Energy grant agreement as Exhibit B.
FINANCIAL IMPACT
The cost of the study will be paid by two grants in the amounts of $12,500 each, funding will be budgeted in FY24 account 0011-01771-5304801 local funds.
LEGAL NOTE
The Board is authorized to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve both the Professional Services Agreement with the Tampa Bay Regional Planning Council for the creation of an Industrial Land Use Study, as well as the Project Development Grant Agreement with Duke Energy, and authorize the Chairman’s signature on the related documents.