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Winter Haven approves contribution agreement to support Southeastern University expansion downtown
Summary
The commission approved a contribution agreement to provide Southeastern University up to $50,000 per year for three years (maximum $150,000) if annual performance metrics are met; Commissioner Dancer declared a conflict and did not vote.
The City Commission of Winter Haven City on Sept. 22 approved a contribution agreement with Southeastern University to support the university's planned expansion into the upper floor of the Exchange Building at 250 Magnolia Avenue SW.
Under the agreement, the city will pay Southeastern University up to $50,000 per year for up to three years if the university meets annually defined performance metrics. City staff said year-one funding will come from increased interest income identified by the finance team; payments for years two and three would be budgeted in the appropriate future fiscal years. The maximum potential contribution is $150,000 over three years.
Staff said the agreement identifies specific annual performance metrics Southeastern must achieve to receive each year's payment. The commission voted to approve the contribution agreement after a brief presentation; no members of the public spoke on the item at the hearing.
Before the vote, Commissioner Dancer announced a conflict of interest, signed the required form and did not participate in the vote. The motion to approve passed by voice vote with no other objections recorded in the transcript.
Staff recommended the agreement and asked the mayor and other city officials to execute the document and directed the city manager or designee to take steps necessary to ensure compliance with the agreement's terms.
