Approve Resolution for Impact Fee Fund Disbursement from the Hillsborough County Board of County Commissioners for the Initial Site Acquisition Phase, Due Diligence, Design and Construction Management Services for Elementary School "D" (South Hillsborough County)

To support student population growth in the South Hillsborough County area, the School Board of Hillsborough County, Florida, a body corporate, will be constructing Elementary School "D" (950 student stations).  Elementary "D" is scheduled to open for the 2018-2019 school year and is reflected in the School Board's approved 2016-2017 Five Year Capital Outlay Plan. 

By approval of the attached Resolution, the School Board is requesting to draw up to $26,456,600 for Elementary "D" from the Impact Fee Funds held by Hillsborough County for this purpose.  The first impact fund withdrawal in the amount of $1,729,030 will be for the initial aspects related to site acquisition, property due diligence, design and construction management services.  The Chief Operating Officer of the School District will be requesting incremental fund disbursements from Hillsborough County to coincide with the timing of the expenditures for Elementary "D" as the site acquisition and building construction move forward.

School Board of Hillsborough County approval of the Resolution for Impact Fee Fund Disbursement from Hillsborough County in the amount up to $26,456,600 will allow the School Board to move forward with the site purchase and construction for Elementary School "D" (South County).