Delayed Resource Allocation Optimization with Applications in Population Dynamics**E.I. Verriest gratefully acknowledges the hospitality at the Center of Interdisciplinary Mathematical Research (IFZM) of the Julius-Maximilians-University Würzburg during his Professional Development Leave from Georgia Tech during the Fall of 2015.The second and third author, G. Dirr and U. Helmke, have been supported by the grants HE 1858/13-1 and HE 1858/14-1 from the German Research Foundation (DFG).It is with deep sorrow that we report the demise of our friend and co-author Prof. Uwe Helmke while preparing the final manuscript.