HomeMy WebLinkAbout04-175QUALIFIED TARGET INDUSTRY
TAX REFUND PROGRAM
RESOLUTION 04-175
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS, ST. LUCIE COUNTY,
FLORIDA FINDING THAT
CONCEPTS, INC., BE
QUALIFIED APPLICANT
S.288.106, FLORIDA
ROYAL CONCRETE
APPROVED AS A
PURSUANT TO
STATUTES; AND
PROVIDING AN APPROPRIATION OF ONE
MILLION FOUR HUNDRED THOUSAND AND
0/100 ($1,400,000) DOLLARS OF AD VALOREM
TAX ABATEMENT AS LOCAL PARTICIPATION
IN THE QUALIFIED TARGET INDUSTRY TAX
REFUND PROGRAM.
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS, ST. LUCIE
COUNTY, FLORIDA, as follows:
WHEREAS, the business under consideration is a manufacturer, specifically, Royal
Concrete Concepts, Inc.; and
WHEREAS, Royal Concrete Concepts, Inc., will be located in St. Lucie County and
WHEREAS, Royal Concrete Concepts, Inc., will have a capital investment of $33
million in their new facility in St. Lucie County, and will employ 1,200 people; and
WHEREAS, the jobs provided by Royal Concrete Concepts, Inc., have an average
salary that is 115% of the County's average hourly wage; and
WHEREAS, St. Lucie County will conduct a public hearing for the purpose of
considering adoption of an ordinance granting an ad valorem tax abatement to Royal
Concrete Concepts, Inc., in the amount of $1,400,000 as local participation in the
Qualified Targeted Industry Tax Refund Program.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS, ST. LUCIE COUNTY, FLORIDA that the Board hereby
recommends Royal Concrete Concepts, Inc., be approved as a Qualified Target
Industry Business pursuant to S.288-106, Florida Statutes.
BE IT FURTHER RESOLVED that subject to the adoption of an ordinance granting an
ad valorem tax abatement to Royal Concrete Concepts, Inc., the necessary
commitment of local financial support for the Qualified Target industry Business for the
Qualified Target Industry Tax Refund Program exists in the amount of $1,400,000;
that this amount will be available consistent with the guidelines set forth by the Office
of Tourism, Trade and Economic Development and will be paid to the Florida
Economic Development Trust Fund with the stipulation that these funds are intended
to represent the "local participation" required by S. 288.106, Florida Statutes.
This resolution shall take effect immediately upon its adoption.
DULY ADOPTED BY THE BOARD OF COUNTY COMMISSIONERS, ST. LUCIE
COUNTY, FLORIDA this 15th day of June, 2004.
ATTEST:
.~
BOARD OF COUNTY COMMISSIONERS
ST. LUCIE COUNTY, FLORIDA
By:
APPROVED AS TO FORM,AND
CORRECTNESS:
Count~)Attdrney