IDA approves final budget amendments, lease and development agreements; multiple motions pass
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Summary
Hardee County Industrial Development Authority approved final budget amendments across several funds, adopted development incentive agreements for Bay Street and Longwood Ranch, authorized an $80,000 contribution toward county gateway signs, and approved a lease amendment for Bullifund Lanes. Several procurement and RFP actions also passed.
The Hardee County Industrial Development Authority on its November meeting approved a series of resolutions to close out fiscal-year 2025 items, adopt development agreements and authorize several procurement actions.
In procedural business the board approved the meeting agenda and the October 2025 minutes by voice vote.
Budget amendments: Staff presented and the board adopted final budget amendments affecting multiple funds, including the general fund and special revenue accounts tied to the South Fort Meade and On a Mine projects, and the Economic Development Council fund. Finance staff said the amendments recognize a land-sale revenue item ($125,084), adjust interest income and reallocate various expense lines to balance carry-forward fund estimates for fiscal year 2026. The board approved resolutions to adopt those amendments and authorized the chair or vice chair to sign the documents.
Development incentives and contracts: The board approved a deliverable-based development incentive agreement with Bay Street Waterloo Holdings LLC, a $460,000 land-acquisition reimbursement tied to specific deliverables and an 18-month completion timeline. The board separately approved a $248,500 reimbursement agreement with Higher Development LLC for the Longwood Ranch project with a 12-month deliverable timeline and similar architectural and landscaping requirements.
Procurement and contracts: The board authorized issuance of RFP 2025-03 for landscaping services (responses due Dec. 15) and named an evaluation committee (Sarah Evers, Kristen Chapman and Amy Tufts). It also approved a first amendment to the Bullifund Lanes LLC lease reinstating the original purchase option and waiving tenant responsibility for 2025 and 2026 taxes and insurance.
Gateway signs and funding: The board voted to provide an $80,000 contribution to a county-led gateway monument-sign project; staff will return next meeting with a budget amendment and a reimbursement-based agreement identifying the funding source.
Financials: The board approved the October financial report, the first report of the new fiscal year, which staff said shows room for growth compared with budget to date.
Next steps: Staff will bring a formal RFP for the 533 Carlton Street property based on board direction to pursue the sale-through-RFP option, and will return with budget amendment documents and formal agreements for the gateway signs funding and other items as required.
Votes and motions referenced in this roundup were recorded in the meeting packet and passed by voice vote unless otherwise noted.