www.mymanatee.org
Manatee County Government Administrative Center First Floor, Commissioner Chambers 9:00 a.m. - January 29, 2013
January 29, 2013 Regular Meeting
Agenda Item #23


Subject
Economic Development Incentive Grant, Project Camellia (R-13-028)

Briefings
None

Contact and/or Presenter Information

Karen Stewart

Economic Development Program Manager

ext. 6832



Action Requested
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.

Enabling/Regulating Authority

F.S. 288.106 Tax refund program for qualified target industry

Manatee County Economic Development Program



Background Discussion

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


Reviewing Attorney
N/A

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
EDI 107.0015806

Amount and Frequency of Recurring Costs
$100,000


Attachment:  Project Camellia Resolution R-13-028.pdf
Attachment:  Project Camellia R-11-164.pdf