Broward County Commission Regular Meeting
Director's Name: George Tablack
Department: Finance and Administrative Services Division: Administration
Information
Requested Action
title
MOTION TO AUTHORIZE County Administrator to negotiate and execute an Agreement for the Broward Bridge Scholarship Program with Broward College (“Agreement”), substantially consistent in material terms and conditions with the term sheet attached as Exhibit 1, subject to review by the Office of the County Attorney as to legal sufficiency.
body
Why Action is Necessary
The delegation of authority to finalize negotiations and execute the agreement with Broward College requires Board of County Commissioner’s approval.
What Action Accomplishes
Authorizes the County Administrator to negotiate and execute an Agreement for the Broward Bridge Scholarship Program with Broward College to provide funding in the amount of $500,000 per year for two academic years to fill the gap between eligible student tuition and fees and non-loan based student financial aid, for post-secondary attainment at Broward College.
Is this Action Goal Related
No
Previous Action Taken
None.
Summary Explanation/Background
As part of the Fiscal Year 2020 Adopted Operating Budget, the Board appropriated $1,000,000 to Broward College to fund the Broward Bridge Scholarship Program (the “Program”). The purpose of the Program is to fund the gap between financial aid and the cost of tuition to eligible students and is intended to follow the student provided they maintain eligibility. In sum, the Program is available as “last dollar” funds to close a financial gap for eligible students. The County’s funding for the Program is $500,000 per year for two academic years beginning in 2021, for a total of $1,000,000.
Staff from Broward College, in collaboration with County Administration, have detailed the program requirements, which have been substantially documented in the attached term sheet dated September 18, 2020 (Exhibit 1). The County Attorney’s Office is in the process of drafting the Agreement. This item seeks authority for the County Administrator to complete negotiations and execute the Agreement. This authority is necessary so that the parties can finalize the agreement by mid-October, which would provide Broward College the requisite time to market and implement the Program for the Spring 2021 term.
Source of Additional Information
Monica Cepero, Deputy County Administrator, (954) 357-7354
Fiscal Impact
Fiscal Impact/Cost Summary
There is no additional fiscal impact. The $1,000,000 was appropriated in the Fiscal Year 2020 Adopted Operating Budget.