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Interoffice Memoraru I .  CONSENT AGENDA COUNTY ADMINISTRATOR 6 GOVERNMENT F   L   O   R   I   D A May 5, 2009 TO: Mayo r Richard T. Grotty -And- Board of County  Commissioners FROM: Eric D. Gassman, Assistant County Administr SUBJECT: First Amendment to the Burnham Grant Agreement Consent Agenda Item for May 19,2009 On  March 6, 2007,  the  Board  approved various  legal  agreements  for  the economic incentive  deal  that  brought   the  Burnham  Institute  for  Medical   Research  to  Orange County.  This economic incentive deal, which was in excess of $300 million, involved a unique  partnership  with the State of Florida,  Orange County, the City of Orlando,  Lake Nona Land Company LLC ("LNLC"),  Florida's  Blood Centers, Metro Orlando Economic Development  Commission,  the University  of Central Florida, the University  of  Florida, Orlando   Regional   Healthcare   Systems,   Florida   Hospital,   Walt   Disney  World  and Orange County's philanthropic community. One  of  the  county's  financial  obligations   under  the  Burnham  grant  agreement  (the primary  funding   agreement)   is  the  "Philanthropy   Drive  Guarantee."    In  2007,  the Burnham   Institute   was   in   the   midst   of  a  philanthropy   campaign   drive   to   raise approximately $15 million.  At that time, they had pledge commitments of approximately $5 million, leaving  $10 million as the remaining goal to be raised over the  next three years.  Orange County and the City of Orlando agreed to equally cover any shortfall of the remaining goal up to $5 million each, payable at the end of the campaign drive or in March  2010.   Due to  the  economic  recession, the  Burnham  Institute  has  agreed to extend the philanthropy  campaign  drive and the payment date of the county  and city guarantee from three years to seven years or payable in March 2014.  Accordingly, the attached first amendment to the Burnham grant agreement effectuates this change. ACTION REQUESTED:  Approval   of  and  authorization   for   the   Mayor   or  his designee    to   execute   Amendment   No.   1   to   Grant Agreement by and among Orange County, Florida; City of Orlando,   Florida;  Lake  Nona  Land  Company  LCC  and Burnham Institute for Medical Research. EG/rm Attachment C:  Tom Drage, County Attorney Sharon Donoghue, Deputy County Administrator John Lowndes, Assistant County Attorney 78

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