Capital Projects Funding Program FAQ

Question: What type of bank account documentation are applicant organizations required to provide with their TDC applications? Do you require complete statements with balances, or names of banks with whom organizations have accounts, and the account managers at those banks?

Answer: Regarding bank account documentation, as to eligible applicants that are not governmental units, the required documentation of existing bank accounts can be satisfied with a letter from applicant’s bank(s) confirming the applicant has accounts at the bank, and the name of the account manager(s). Governmental units can satisfy this financial viability requirement relating to bank accounts by providing a link to the most current CAFR. However, VSPC, on behalf of the Tourist Development Council and the County, reserves the right to request additional banking information and/or verify documentation provided by applicant as necessary to fully evaluate the financial viability of the applicant.

Question: Is it acceptable to submit a feasibility study that was done in 2015?

Answer: While the Capital Projects Funding Program Guidelines provide that feasibility studies should be completed no ealier than six (6) months from the application date, the applicant, in its discretion, may choose to submit feasibility studies completed earlier. In that event, the feasibility study will be considered as part of the application evaluation and funding decision; however, Visit St. Pete/Clearwater, on behalf of the Tourist Development Council and Pinellas County, reserves the right to request updated information as necessary to fully evaluate the application.

Question: Can I submit an application for a project that is already completed/constructed?

Answer: Capital projects eligible for funding consideration are determined by applicable Florida statutes and county ordinances, as defined in the guidelines. A determination as to whether tourist tax funding may be legally utilized to reimburse an applicant for a completed capital project will be made by the County Attorney's Office based upon the specific information in the application. Therefore, applicants in their discretion may submit applications for reimbursement for eligible capital projects, and the evaluation process will include a legal determination as to whether the applicant may be reimbursed through this program.

Question: Can an already funded pro forma take the place of a feasibility study?

Answer: It is the applicant's decision as to the substantive content of submittals under the application process. The purpose of requiring information like a feasibility study is to ensure the highest ROI for Tourist Development Tax funding the investment. Accordingly, if an applicant can establish a Tourist Development Tax ROI through any other documentation, the funding guideliens are flexible in that respect. Refer to Section VIII A of the guidelines for the type of information being sought for submittal.

Question: Will the deadline be extended past January 11, 2017?

Answer: There are no plans to extend the deadline at this time. The Jan. 11, 2017, deadline was already pushed back from an original deadline in December.