City Manager's Annual Report Annual Report 2018 | A Year In Review | Page 47

ACCOUNTABILITY
CIP UPDATES
In FY 2018-19 and FY 2019-20, the ten-year Capital Improvement Plan was developed based
on the City‘s Strategic Plan. The City is prudently planning projects without increasing the
current debt load. Projects planned over the ten-year period are projected to cost $309.7
million and include:
RIVERWALK
PROJECT SIDEWALK
PROJECTS CULVERTS & PIPE
REPLACEMENT SW PORT ST.
LUCIE BLVD. STREET
RESURFACING PARKS & BMX
SKATE PARK MCCARTY
RANCH WASTEWATER
PLANT UPGRADES OTHER
PROJECTS
$9.4M $10M $5.5M $6M $30M $43.7M $8.7M $35M $44.2M
Crosstown Parkway Bridge will be completed in November 2019 with no planned additional debt required.
MILLAGE RATE
Millage rate is the rate of tax per $1,000 of
taxable property value.
The City’s Operating Millage rate is
$5.0807 per thousand for both FY 18/19
and FY 19/20.
The voter-approved debt service millage
for Crosstown Parkway will remain at
$1.2193. The overall total millage is 6.3000.
PSL MILLAGE HISTORY
1 MIL
2 MIL
3 MIL
4 MIL
5 MIL
6 MIL
FY 14/15 5.6289
FY 15/16 6.6289
FY 16/17 6.5000
FY 17/18 6.4000
FY 18/19 6.3000
City Markets
Florida Center for
Bio-Sciences
Through an international marketing firm, the City of Port
St. Lucie continues to aggressively market for sale the
Florida Center for Bio-Sciences building, which was
formerly occupied by the Vaccine and Gene Therapy
Institute. The objective remains to find a buyer who
will help this state-of-the-art facility fulfill its purpose
as a research institute, jobs creator and anchor for
the Tradition Center for Innovation in the City’s jobs
corridor. The City’s goal is to unburden itself of the
operating costs of maintaining the building, but also to
find an owner that will support the local economy. In
2018, City officials were excited to learn that the world-
renowned Cleveland Clinic is set to join the community
and the continuing success of Tradition. Martin Health
System and Cleveland Clinic signed a definitive
agreement in 2018 resulting in Martin Health, owner
of Tradition Medical Center, becoming a full member
of the Cleveland Clinic health system. City leaders are
hopeful this exciting development will aid in the search
for a new occupant for the nearby Florida Center for
Bio-Sciences facility.
City Center for Sale
One of the City’s strategic goals is to make City Center
the mixed-use cornerstone of eastern Port St. Lucie. With
the completion of the Crosstown Parkway bridge and
beautification to U.S. 1, which is funded by the half-cent
sales tax, City officials believe this property will soon be
poised to become a premier mixed-use destination on the
eastern side of Port St. Lucie. This land near the Port St.
Lucie Civic Center is in the hands of a court-appointed
Receiver, who, in 2017, retained an international marketing
firm to find a new buyer. This property consists of 21 acres
of developable pads that are fully entitled for a wide variety
of uses and are shovel-ready for vertical construction.
In 2018, the City received news that the Receiver has a
contract with developer Biscayne Atlantic for the purchase
and development of the property. As of December 2018,
Prospective buyer, Biscayne Atlantic, was conducting its
due diligence for a potential purchase.
CITY OF PORT ST. LUCIE 2018 ANNUAL REPORT
47