www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - May 10, 2016
REVISED May 10, 2016 - Regular Meeting
Agenda Item #20


Subject
Project Aurora Economic Development Incentive

Briefings
None

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


Action Requested
Adoption of Resolution R-16-081 finding that Project Aurora is approved for an Economic Development Incentive Grant (EDI) and a Transportation Impact Fee Incentive (TIFI).

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 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. 

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 percent above 115% of the average Manatee 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 AURORA will expand a manufacturing facility in Manatee County. Manufacturing facilities are eligible for waiver of the wage for incentives to 100% of the average Manatee annul wage of the company ($36,763).

Project AURORA is projected to create 55 quality jobs over five years, with the company paying a minimum of 100% of the 2014 Manatee County average annual wage plus benefits. 

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

Compliance with the EDI/TIFI program is managed through the adoption of Resolution R-16-081.     

The County will require future budget appropriations beginning FY 2016-2017 through FY 2020-2021, 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 for the 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‚Äôs future obligations ($97,720) 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, Neighborhood Services Department (karen.stewart@mymanatee.org).


Cost and Funds Source Account Number and Name
EDI - 107.0015806 $55,000; TIFI - 101.0015806 $42,720

Amount and Frequency of Recurring Costs
$97,720 over five years


Attachment:  Aurora-R-16-081.pdf