Brian Bedrick, Site Manager for the University of Central Florida (UCF) Business Incubation Program in Eustis, will present an update on

In plain words

An interlocal agreementA contract between two governments, such as the county and a city, to share a service, a cost or a responsibility. Florida Statutes 163.01 between Lake County and the City of Eustis to continue funding the UCF Business Incubator Program located in downtown Eustis.

What changes The County commits to ongoing financial support for the business incubator program for three additional fiscal years.

Who and the money The fiscal impact over the next three years is not to exceed $382,500, or $127,500 per fiscal year for FY 2027, FY 2028, and FY 2029 (expenditure).

Stated reason (staff, quoted): "The Agreement being considered today would provide continued County support of the UCF Business Incubator through an Interlocal Agreement with the City for FY 2027, FY 2028, and FY 2029 at $127,500 per fiscal year (expenditure)."

Where Eustis

Why (staff, quoted) "The Agreement being considered today would provide continued County support of the UCF Business Incubator through an Interlocal Agreement with the City for FY 2027, FY 2028, and FY 2029 at $127,500 per fiscal year (expenditure)."

Backup in the packet: Eustis Business Incubator Agreement-Executed (2) (p. 710), Eustis Business Incubator Agreement-Executed_2023 (p. 710), Eustis Signed BIP Agreement (p. 710)

Written from the Board Action and the staff cover sheet, checked by script: every number appears in the record. Staff memo