www.mymanatee.org
Bradenton Area Convention Center One Haben Boulevard, Palmetto - Longboat Key Room 9:00 a.m. - August 11, 2020
August 11, 2020 - Regular Meeting
Agenda Item #28


Subject
Adoption of Resolution R-20-119 Authorizing an Economic Development Incentive Grant - Project Hawk

Briefings
None

Contact and/or Presenter Information
Ruth A. Buchanan
Economic Development Manager
Ext. 3633

Action Requested
Adoption of Resolution R-20-119 finding that Project Hawk is approved for a customized Economic Development Incentive Grant (EDI) and Multimodal Transportation Impact Fee Incentive (MTIFI); Southwest District (SWD) EDI and SWD MTIFI; Southwest District Local Job Bonus and SWD Inclusive Economic Development Bonus; and SWD Building Permit Fee Refund.

Enabling/Regulating Authority

Florida Statute 125.045 County economic development powers

Florida Statute 288.075 Confidentiality for economic development projects

Manatee County Government Incentive Program Guidelines

Ordinance 14-28 Southwest County Improvement District and Southwest District Strategic Plan



Background Discussion
On August 6, 2019, the Manatee County Board of County Commissioners adopted the revised Manatee County Incentive Program Guidelines which provides for Economic Development Incentive (EDI) Grants.

Economic Development Incentives (EDI) 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 Hawk intends to expand an Advanced Manufacturing (Aerospace) facility in the Southwest District and is projected to provide $4,100,000 in capital investment and create 36 new jobs over five years, with the company paying a minimum of 115% of the 2018 Manatee County average annual wage ($48,632) plus benefits.

Manatee County staff will be responsible for monitoring EDI, SWD-EDI, Southwest District Local Jobs Bonus, SWD Inclusive Economic Development Bonus, M-TIFI, SWD M-TIFI, and SWD Building Permit Fee Refund Grant program requirements, as well as processing the invoices annually for payment upon confirmation of compliance with agreement to be executed.

Compliance with the customized grant programs is managed through the adoption of Resolution R-20-119 and associated Funding Agreement. The form of the Resolution and Funding Agreement was reviewed, revised, and approved by the County Attorney's Office in April 2018.

The County will require future budget appropriations beginning FY 2021-2022 through FY 2025-2026, 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 grant program incentives 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 ($170,592.19) 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 Ruth Buchanan, Redevelopment and Economic Opportunity Department (Ruth.Buchanan@mymanatee.org).



Cost and Funds Source Account Number and Name
EDI - 107.0015806 - $36,000; MTIFI - 101.0015806 - $24,393.76; SWD – 8230020603 - $110,198.43

Amount and Frequency of Recurring Costs
over a 5 year period


Attachment:  Resolution R-20-119 HAWK v2.pdf
Attachment:  Hawk Funding Agreement .pdf