AGENDA ITEM REPORT
TITLE:
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A RESOLUTION APPOINTING TWO (2) REGULAR MEMBERS TO THE SEMINOLE COCONUT CREEK EDUCATION FOUNDATION, INC., PURSUANT TO THE COCONUT CREEK FEE TO TRUST LANDS MITIGATION AGREEMENT AND THE BYLAWS OF THE SEMINOLE COCONUT CREEK EDUCATION FOUNDATION.
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BACKGROUND:
In March 2011, the City of Coconut Creek entered into the Coconut Creek Fee to Trust Lands Mitigation Agreement (the “Mitigation Agreement”) with the Seminole Tribe of Florida. The Mitigation Agreement required certain payments from the Seminole Tribe of Florida, one eleventh of which (approximately $250,000 per year) would be paid directly to a foundation or trust fund to provide after school tutoring programs for elementary students, college test preparation courses for high school students, college academic and leadership scholarships, or other educational programs that the trust decides benefit the residents, students of Coconut Creek public schools, or children of employees of the City.
DISCUSSION:
The Seminole Coconut Creek Education Foundation, Inc. (the “Education Foundation”) has been formed to implement the educational component of the Mitigation Agreement. The board of directors of the Education Foundation consists of five (5) Directors, serving three (3) year terms, with two (2) members nominated by the City of Coconut Creek, two (2) members nominated by the Seminole Tribe of Florida, and one (1) member nominated by the first four members. Approval of this resolution will provide for the City’s two (2) appointments to the Education Foundation board for a three (3) year term.
RECOMMENDATION:
Staff recommends approval of this resolution.
FISCAL IMPACT: N/A