50 | F I N A N C I A L H E A L T H
3 .
FLORIDA CENTER FOR
BIO-SCIENCES
The City of Port St . Lucie in August 2017 took possession of the building formerly occupied by the Vaccine and Gene Therapy Institute – a move that allows the City to save money while marketing the highly-specialized building for sale to a new owner in a global market .
Now that the City has ownership of the 107,000 square-foot bio-science research facility with biocontainment capabilities , it is being marketed as the Florida Center for Bio-Sciences . The City Manager ’ s Office worked collaboratively with the City Attorney to transition the building to the City ’ s ownership and control . As a critical next step in divesting the building from the City ’ s ownership , Avison and Young was selected as the Realtor / Broker to sell the building . This is a unique opportunity to seek buyers in a global market for the building that is like few others in the United States . The City aims to market the building so it can fulfill its original purpose as a research institution , a jobs creator and an anchor for the Tradition Center for Innovation . The City is striving to recover as many taxpayer dollars as possible through : a sale or lease of the building ; all reasonable legal claims against the principals of VGTI , the Oregon Health and Science University and others and monetizing the intellectual property created at the facility , which the City now owns .
The Florida Center for Bio-Sciences is part of the Tradition Center for Innovation , an area that is prospering in Port St . Lucie , which includes Tradition Medical Center , the Torrey Pines Institute for Molecular Studies , Keiser University , and an ever-growing number of medical office buildings .
While all City departments constantly work to find innovative ways to save money , one highlight came when the Utility Systems Department changed from printing and mailing its bills internally to fully outsourcing these tasks .
A cost analysis of the previous in-house process to print and mail bills showed making the switch to an outside contractor would be far more cost effective . The outsourcing saves the City a projected $ 82,900 a year . The City sends traditional paper bills to about 60,000 of its more than 70,000 utility customers , the rest receive e-bills . It also sends out about 20,000 printed late notices .
4 .
UTILITY MONTH BILL
PRINTING
FINANCIAL REPORT & BUDGET ACHEIVEMENTS
For the 26th year in a row , the City ’ s Comprehensive Annual Financial Report has received the Governmental Finance Officers Association Certificate of Achievement for Excellence in financial reporting . For the 28th year in a row , the City ’ s Annual Budget has received the Governmental Finance Officers Association Certificate of Achievement for the Distinguished Budget Presentation Award . Only 2 percent of municipalities nationwide receive these recognitions .
CITY OF PORT ST . LUCIE A N N U A L R E P O R T 2017