www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - March 7, 2017
March 7, 2017 - Regular Meeting
Agenda Item #53


Subject
Economic Development Incentive Grant - Project Pioneer

Briefings
None

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

Action Requested
Adoption of Resolution R-17-029 rescinding Resolution 13-085 and finding that Project Pioneer be approved for an Economic Development Incentive Grant for a seven-year period.

Enabling/Regulating Authority
F.S. 288.106 Tax refund program for qualified target industry businesses.
F.S. 288.075 Confidentiality for economic development projects
Manatee County Government Incentive Grant

Background Discussion
On May 7, 2013, the Board adopted Resolution R-13-085 approving Project Pioneer for an Economic Development Incentive (EDI) and Transportation Impact Fee Incentive (TIFI) Grant.

Project Pioneer located a manufacturing facility in Manatee County and is an employer that pays more than 115% of the Manatee average wage with benefits.

Project Pioneer has qualified and been paid for a portion of these incentives for 186 jobs created in 2013, 2014, and 2015 in the amount of $279,000 for EDI. In addition the TIFI was paid in 2013 in the amount of $70,247.14 associated with construction of a facility.

Resolution R-17-029 rescinds Resolution R-13-085, approves Project Pioneer for the Economic Development Incentive Grant, and provides for revising the payout schedule over seven years with remaining amount to be paid being $96,000.

Manatee County staff will be responsible for monitoring 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-17-029.

The County required budget appropriations beginning FY 2013-2014 continuing through FY 2019-2020, if job creation 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‚Äôs future obligations ($96,000 with total payout of $445,247.14 if all commitments are made) 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 Opportunities Department (karen.stewart@mymanatee.org).

Cost and Funds Source Account Number and Name
EDI - 107.0015806 - $375,000 TIFI - 101.0015806 - $70,247.14

Amount and Frequency of Recurring Costs
over a seven year period


Attachment:  Pioneer Rev R-17-029.pdf