Legislation Details

File #: 26-7810    Name: RESOLUTION NO. R2026-32 (BUDGET AMENDMENT FOR REDUCED LICENSE FEE PAYMENT FROM WELLINGTON ATHLETICS, LLC IN THE AMOUNT OF $477,000.00) A RESOLUTION OF WELLINGTON, FLORIDA’S COUNCIL AMENDING THE FISCAL YEAR 2025-2026 GENERAL FUND BUDGET FOR THE FUNDING
Type: Budget Amendments
Body: Village Council
Agenda Date: 8/11/2026 Final action:
Title: ITEM: RESOLUTION NO. R2026-32 (BUDGET AMENDMENT FOR REDUCED LICENSE FEE PAYMENT FROM WELLINGTON ATHLETICS, LLC IN THE AMOUNT OF $477,000.00) A RESOLUTION OF WELLINGTON, FLORIDA'S COUNCIL AMENDING THE FISCAL YEAR 2025-2026 GENERAL FUND BUDGET FOR THE FUNDING OF $477,000.00 FOR REDUCED LICENSE FEE PAYMENT FROM WELLINGTON ATHLETICS, LLC; AND PROVIDING AN EFFECTIVE DATE. REQUEST: Approval of Resolution No. R2026-32 Budget amendment for the reduced license fee payment from Wellington Athletics, LLC in the amount of $477,000.00.
Attachments: 1. 1. BA Reso 2026-32 BA $477,000 WA License Pmt Shortfall 08-11-2026
Date Action ByActionResultVoteMeeting DetailsVideo
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ITEM:                     RESOLUTION NO. R2026-32 (BUDGET AMENDMENT FOR REDUCED LICENSE FEE PAYMENT FROM WELLINGTON ATHLETICS, LLC IN THE AMOUNT OF $477,000.00)

 

A RESOLUTION OF WELLINGTON, FLORIDA’S COUNCIL AMENDING THE FISCAL YEAR 2025-2026 GENERAL FUND BUDGET FOR THE FUNDING OF $477,000.00 FOR REDUCED LICENSE FEE PAYMENT FROM WELLINGTON ATHLETICS, LLC; AND PROVIDING AN EFFECTIVE DATE.

 

REQUEST:                     Approval of Resolution No. R2026-32 Budget amendment for the reduced license fee payment from Wellington Athletics, LLC in the amount of $477,000.00.

 

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EXPLANATION:                     The Comprehensive Agreement between the Village of Wellington, ACME Improvement District, and Wellington Athletics, LLC dated June 21, 2022 Article 16 provides for the payment of semi-annual license fees.  Subsequent Amendments Nos. 2 and 3 clarify the schedule and amounts and establish a detailed payment schedule.  Wellington Athletics, LLC failed to make the required June 15, 2026 payment in full.   The license payment due June 15, 2026 and received July 8, 2026 from Wellington Athletics, LLC included a reduction of $477,000.00.

 

The outstanding balance of $477,000.00 remains unpaid.  The Village of Wellington has made the semi-annual bond payment as required.  Resolution No. R2026-32 Budget Amendment appropriates $477,000 from unassigned fund balance to the General Fund to offset the reduced license payment received from Wellington Athletics, LLC.   

 

BUDGET AMENDMENT REQUIRED:                     YES

 

PUBLIC HEARING:                     NO                      QUASI-JUDICIAL:   

 

FIRST READING:                                            SECOND READING:   

 

LEGAL SUFFICIENCY:                      

 

FISCAL IMPACT:                     Resolution No. R2026-32 Budget Amendment appropriates $477,000 from unassigned fund balance to the General Fund to offset the reduced license payment received from Wellington Athletics, LLC.  The license payment due June 15, 2026 and received July 8, 2026 from Wellington Athletics, LLC included a reduction of $477,000.00.

 

WELLINGTON FUNDAMENTAL:                     Protecting our Investment

 

RECOMMENDATION:                     Approval of Resolution No. R2026-32 Budget amendment for the reduced license fee payment from Wellington Athletics, LLC in the amount of $477,000.00.