e|agenda.NET Sarasota County Schools

THE SCHOOL BOARD OF SARASOTA COUNTY, FLORIDA Landings Administrative Complex 1980 Landings Blvd. 3:00 p.m.

March 18, 2014 Board Meeting Agenda Item #32 Title APPROVAL OF 179D ALLOCATION AGREEMENT AND PARTNERSHIP AGREEMENT WITH WILLIS A. SMITH CONSTRUCTION, INC. FOR SCTI AND BOOKER HIGH SCHOOL PROJECTS Description As part of the Energy Policy Act of 2005, Congress enacted Section 179D of the Internal Revenue Code in order to encourage the efficient design and construction of new or rehabilitated projects.  The program allows tax exempt government building owners to allocate potential Section 179D deductions for energy efficient building envelope, HVAC or interior lighting systems to taxpayers.  Contractors and material suppliers (tax payers) may apply for the full federal income tax deduction available under the 179D program.  While the Sarasota County School Board cannot participate in the income tax recovery, the district requires that fifteen percent (15%) of the recovered income tax amount be paid to the district in return for assistance in obtaining the income tax deduction. Recommendation That the 179D Allocation Agreement and Partnership Agreement with Willis A. Smith Construction, Inc. for SCTI and Booker High School projects be approved as presented. Contact LEMPE & SMITH Financial Impact N/A Attachment:  BAIenc3-18-2014_AgreementForEpact2005&USCSection179D_SCS&WAS_SCTI&BHS.pdf