Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - May 22, 2018
REVISED May 22, 2018 - Regular Meeting
Agenda Item #40

Project Icewater Economic Development and Multimodal Transportation Impact Fee Incentive Grant


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

Action Requested
Adoption of Resolution R-18-077 finding that Project Icewater is approved for an Economic Development Incentive Grant and a Multimodal Transportation Impact Fee Incentive.

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 December 12, 2017, the Manatee County Board of County Commissioners adopted the Manatee County Incentive Program Guidelines which provide for Economic Development Incentive (EDI) Grants.

EDI/M-TIFI 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 ICEWATER will locate an aerospace, aviation, and defense facility in Manatee County.

Project ICEWATER is projected to create 38 quality jobs over five years, with the company paying a minimum of 200% of the 2016 Manatee County average annual wage plus benefits.

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

Compliance with the EDI/M-TIFI program is managed through the adoption of Resolution R-18-077.     

The County will require future budget appropriations beginning FY 2019-2020 through FY 2023-2024, 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/M-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 ($143,030) for this application.

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other

Reviewing Attorney

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

Cost and Funds Source Account Number and Name
EDI - 107.0015806 - $114,000; MTIFI - 101.0015806 - $29,030

Amount and Frequency of Recurring Costs
Over a five-year period

Attachment:  Icewater R-18-077.pdf