Approve Resolution for Impact Fee Fund Disbursement from the Hillsborough County Board of County Commissioners for the Construction and Capital Equipment Acquisition for Elementary "A" Adjacent to Lennard High School, South County Area 

Based on existing growth at Cypress Creek and Ruskin Elementary Schools and to support future growth in the area, the School Board of Hillsborough County will be constructing Elementary "A".  The school will be built on property owned by the School Board that is adjacent to Lennard High School.  Elementary "A" is scheduled to open in 2014-2015 and is reflected in the School Board's approved 2011-2012 Five Year Capital Outlay Plan.

Hillsborough County Consolidated Impact Assessment Program (the Impact Fee Program) requires that the School Board approve a resolution for disbursement of Impact Fee Funds held by Hillsborough County, for construction and acquisition of capital equipment for new school facilities.  The School Board's Impact Fee Account balance is approximately $32,000,000 and the anticipated design, construction costs and capital equipment funds necessary to complete up to 950 student stations for Elementary "A" will be $18,000,000.  By approval of this Resolution, the School Board is requesting to draw funds for these expenditures. 

Upon project close-out, the School District will perform a final accounting of the project.  Any funds remaining after all qualified expenditures are paid, will be returned to the Hillsborough County Public Schools Impact Fee Account  within thirty (30) days of School Board acceptance of the project close-out.

The School Board of Hillsborough County's approval of the Resolution to collect impact fees from the Hillsborough County Board of County Commissioners for anticipated construction costs for the completion of up to 950 student stations for Elementary "A" in Ruskin, will have no financial impact to the School Board.