Approve Resolution for Impact Fee Fund Disbursement from the Hillsborough County Board of County Commissioners for the Construction and Capital Equipment Acquisition for Dr. Jack R. Lamb Elementary School, 78th Street, Tampa, South of Progress Village Middle Magnet

Based on existing growth at Ippolito and Frost Elementary Schools and to support future growth in the area, the School Board of Hillsborough County will be constructing Dr. Jack R. Lamb Elementary School.  The school will be built on property owned by the School Board that is just south of Progress Village Middle Magnet.  Dr. Jack R. Lamb Elementary School is scheduled to open in 2015-2016 and is reflected in the School Board's approved 2013-2014 Five Year Capital Outlay Plan.

Hillsborough County's 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 $44,000,000 and the anticipated design, construction costs and capital equipment funds necessary to complete up to 940 student stations for Dr. Jack R. Lamb Elementary will be $18,187,560.  The balance is budgeted for completing other planned schools in our approved Five Year Capital Work Plan.  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 the School Board acceptance of the project close out.

The School Board of Hillsborough County will receive funds in the amount of $18,187,560 by approving the Resolution to collect impact fees from the Hillsborough County Board of County Commissioners for anticipated costs for the construction of Dr. Jack R. Lamb Elementary School.