Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Parameters Of The Community Endowment Trust Fund In Accordance With Chapter 109 Of The City Of Hollywood Code Of Ordinances Relating To The Textile Recycling Collection Bin Program; Amending The Fiscal Year 2020 Adopted Operating Budget (R-2019-283).
Body
Staff Recommends: Approval of the attached Resolution.
Explanation:
On November 15, 2017, the City Commission passed and adopted Ordinance No. O-2017-19, which approved the establishment of a textile recycling collection services program throughout the City. On November 15, 2017, the City Commission passed and adopted Resolution No. R-2017-351 which authorized the negotiation and execution of a Franchise Agreement (the “Agreement”) with FLSC, LLC (“FLSC”). Section 109.02(F) of the City of Hollywood Code of Ordinances states that a Community Endowment Trust Fund will be established by the City Commission to set forth the parameters for expending the revenue received by the program. FLSC has requested a modification of Section 4.1 of the Agreement (Franchise Fees) from $100,000.00 per year to $62,500.00 per year, due to its inability to pay the agreed upon amount. The Chief of Police hereby recommends that the City Commission amend the existing parameters as more specifically set forth in Exhibit “A” attached hereto and incorporated herein by reference. The program anticipates revenues to be received on a monthly basis in equal monthly payments of $5,208.33.
Recommended for inclusion on the agenda by:
Chris O’Brien, Chief of Police
George R. Keller, Jr., CPPT, Deputy City Manager