Item Coversheet
CITY OF ORLANDO
AGENDA ITEM


Items Types: Business and Financial Services

For Meeting of: 12/8/2014

District:ALL On file (City Clerk):Yes


Subject:Orlando/Winter Park Interlocal Agreement - Performing Arts Center Funding
Summary:

The Interlocal provides that the City of Winter Park will pay to the City of Orlando, as part of the funding committed for construction of the performing arts center, the sum of $1,000,000 payable annually over a ten (10) year period, with each annual payment of $100,000 to be paid no later than 180 days after the first day of the fiscal year for which the payment is owed. 

The City of Orlando agrees to use the City of Winter Park’s contributions for construction and debt service for the performing arts center.  

Fiscal and Efficiency Data:N/A.  There is no financial obligation for the City of Orlando under this Interlocal.  The City of Winter Park will pay to the City of Orlando $100,000 per year for ten (10) years.
Recommended Action:Approve the Interlocal Agreement and authorize its execution by the Mayor or Mayor Pro Tem and the City Clerk or Deputy City Clerk. 
Contact:Christopher P. McCullion

ATTACHMENTS:
File NameDescriptionType
Interlocal_Agrt_Orlando_Winter_Park_DPAC_Funding_11-11-14.docInterlocal Agreement - Performing Arts Center FundingBackup Material
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