www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - June 20, 2017
June 20, 2017 - Regular Meeting
Agenda Item #44


Subject
Economic Development Incentive Grant - Project Catalina

Briefings
None

Contact and/or Presenter Information
Karen Stewart
County Economic Development Official
Ext. 3029

Action Requested
Adoption of Resolution R-17-066 finding that Project Catalina is approved for a customized Economic Development Incentive Grant and Transportation Impact Fee Incentive.

Enabling/Regulating Authority
F.S. 125.045 County economic development powers
F.S. 288.075 Confidentiality for economic development projects
Manatee County Government Incentive Grant

Background Discussion

On April 21, 2009, the Manatee County Board of County Commissioners adopted the Manatee County Economic Development Incentive Program which provides for Economic Development Incentive (EDI) Grants.

Customized EDI Grants are available to qualifying businesses creating new high-wage job opportunities, either by expanding an existing business or by bringing a new business to Manatee County. The incentive is customized per business based on the number of jobs created and the average annual wage of the company.

The County has received a written request from the business for confidentiality regarding its intentions, plans, and interests to locate, relocate, or expand any of its business activities in this State, pursuant to Section 288.075 Florida Statutes.

Project CATALINA will locate a warehouse/distribution facility in Manatee County.

Project CATALINA is a customized EDI grant projected to provide a significant capital investment of $12 M in the Southwest District and create 65 quality jobs over five years, with the company paying a minimum of 85% of the 2015 Manatee County average annual ($33,867) wage plus benefits. This project represents efforts of an inclusive economic development strategy for the Southwest District.

Manatee County staff will be responsible for monitoring Customized EDI Grant requirements, as well as processing the invoice for payment upon confirmation of compliance with agreement to be executed.

Compliance with the EDI/TIFI program is managed through the adoption of Resolution R-17-066.

The County will require future budget appropriations beginning FY 2017-2018 through FY 2022-2023, if job creation and capital investment requirements are met. 

We have appropriated monies annually for the last few years to be set aside for economic development incentives for the local EDI/TIFI program 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 ($98,046) for this application.



County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
Original Resolution for Board Records, copy of executed resolution and approved agenda to Karen Stewart, Redevelopment and Economic Opportunity Department (karen.stewart@mymanatee.org).

Cost and Funds Source Account Number and Name
EDI - 107.0015806 - $65,000 TIFI - 101.0015806 - $33,046

Amount and Frequency of Recurring Costs
Over a five year period


Attachment:  Catalina-R-17-066.pdf