IDA adopts three budgets and clarifies Ona Mine allocations
Summary
The IDA adopted the EDC budget and special revenue fund budgets for Ona Mine and South Fort Meade, adding real-estate portfolio management and percentage allocations for Mosaic base payments to increase transparency.
The Hardee County Industrial Development Authority adopted three budget resolutions in the meeting’s final readings: Resolution 26-22 (EDC budget), Resolution 26-23 (Ona Mine special revenue fund), and Resolution 26-24 (IDA general fund and South Fort Meade special fund). Board members said the budgets are broadly unchanged from the draft and praised improved presentation and clarity.
Staff noted the Ona Mine budget now shows percentage allocations for Mosaic base payments—5% to workforce, 20% to infrastructure and 75% to the general economic development fund—to conform with LDA requirements and increase transparency. On the South Fort Meade materials, staff added a real estate portfolio management line on the general fund to ensure property-management costs are tracked separately rather than pulled from other earmarked funds. Each resolution was adopted by motion and voice vote.
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