HomeMy WebLinkAbout2025 08 11 Regular 502 - Remove UCF Incubator Program Funding - Pulled and Moved to August 25, 2025 MeetingREGULAR AGENDA ITEM 502
CITY COMMISSION AGENDA | AUGUST 11, 2025 REGULAR MEETING
TITLE
Remove UCF Incubator Program Funding
SUMMARY
Commissioner Diaz requested this item to discuss eliminating the $75,000 allocation to
the UCF Business Incubator located in Winter Springs. Commissioner Diaz notes that
UCF is already publicly funded and is located in another county.
The City of Winter Springs entered into an Economic Development Agreement with the
UCF Incubator that was executed October 31, 2024 after approval by the City
Commission at their October 14, 2024 meeting. This agreement pledged $75,000 per
year for a term of three (3) years but states, "The City may also terminate this
Agreement if the City Commission elects, at its sole discretion, during the City' s annual
budget adoption proves not to budget and appropriate the annual installment
payment required under Section 4.0..."
FUNDING SOURCE
$75,000 is currently included in the FY26 Proposed Budget for the UCF Incubator
Program in General Government G/L 001-19-1900-580852 - Private Organizations
pursuant to the Economic Development Agreement.
RECOMMENDATION
Discuss Commissioner Diaz's proposal and take whatever action the Commission
deems pertinent.
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