|Manatee County Government Administrative Center First Floor, Commissioner Chambers 9:00 a.m. - January 29, 2013|
Agenda Item #23
Economic Development Incentive Grant, Project Camellia (R-13-028)
Contact and/or Presenter Information
Economic Development Program Manager
Authorization to rescind Resolution R-11-164 and to adopt Resolution R-13-028, finding that Project Camellia is approved for an Economic Development Incentive Grant.
F.S. 288.106 Tax refund program for qualified target industry
Manatee County Economic Development Program
Project CAMELLIA intends to create 100 new jobs over a five year period, with an average annual wage that is at least 15% over the Manatee County average annual wage.
Project CAMELLIA has requested a revision to the payout schedule for EDI based on updated projections for job creation. Resolution R-13-028 is being presetned to rescind Resolution R-11-164 which will revise the payout schedule over a five year period. An amendment to the agreement with Project Camellia will be made to reflect these changes.
Manatee County staff will be responsible for monitoring all EDI Grant requirements, as well as processing the invoice for payment on an annual basis upon confirmation of compliance with wage and annual job creation and retention requirements.
Compliance with the program is managed through the adoption of Resolution R-13-028.
The County's commitment will require future budget appropriations beginning in FY 2012-2013 through FY 2016-2017, if all employment conditions are met. For the last few years, we have appropriated monies annually to be set aside for economic development incentives such as the state and local EDI programs where applicable and will continue to ensure that reserves are set aside for this purpose and carried forward to fund the County's future obligations ($100,000) for the application.
County Attorney Review
Not Reviewed (No apparent legal issues)
Explanation of Other
Instructions to Board Records
Original executed Resolution to Board Records. Copy of Resolution and stamped approved agenda memo to Karen Stewart, Neighborhood Services Department
Cost and Funds Source Account Number and Name
Amount and Frequency of Recurring Costs
Attachment: Project Camellia Resolution R-13-028.pdf
Attachment: Project Camellia R-11-164.pdf