www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - April 8, 2014
REVISED April 8, 2014 - Regular Meeting
Agenda Item #24


Subject
Economic Development Incentive Resolution (R-14-040)

Briefings
None

Contact and/or Presenter Information
Karen Stewart
Economic Development Program Manager
Ext. 3029


Action Requested
Adoption of Resolution R-14-040 finding that Project Cantina is approved for an Economic Development  and Transportation Impact Fee Incentive Grant.


Enabling/Regulating Authority
F.S. 288.106 Tax refund program for qualified target industry businesses.
Manatee County Government Incentive Program


Background Discussion
Project CANTINA will expand a clean tech facility in Manatee County.

Project CANTINA is scheduled to create 31 quality jobs over five years paying a minimum of 115% of the 2012 Manatee County average annual wage plus benefits.

The Transportation Impact Fee Incentive (TIFI) eligibility is fifty-percent based on the company paying 115% of the 2012 Manatee County Average annual wage.

TIFI is estimated to be $2,130.80 per Resolution R-14-040.

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

Compliance with the program is managed through the adoption of Resolution R-14-040.     

The County’s commitment will require future budget appropriations beginning FY 2014-2015 through FY 2018-2019, if job creation and construction requirements are met.  We have appropriated monies annually for the last few years to be set aside for economic development incentives such as the state and local EDI 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 ($33,130.80) 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 stamped agenda to Karen Stewart, Neighborhood Services Department (karen.stewart@mymanatee.org)


Cost and Funds Source Account Number and Name
1070015806 EDI $31,000, 1010015806 TIFI $2,138.80

Amount and Frequency of Recurring Costs
$33,130.80 over a five year period


Attachment:  Cantina-R14040.pdf