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RESOLUTION NO. 05-476
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF
ST. LUCIE COUNTY FINDING THAT PROJECT "I" BE APPROVED AS
A QUALIFIED TARGET INDUSTRY BUSINESS PURSUANT TO
SECTION 288.106, FLORIDA STATUTES; PROVIDING AN
APPROPRIATION IN A MINIMUM OF ONE HUNDRED FIFTY
THOUSAND AND 00/100 DOLLARS ($150,000.00) AS LOCAL
PARTICIPATION IN THE QUALIFIED TARGET INDUSTRY TAX
REFUND PROGRAM FOR A PERIOD OF FIVE (5) YEARS; AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, the Board of County Commissioners for St. Lucie County, Florida, has
made the following determinations:
1. The business under consideration is a corporate headquarters, specifically known
as Proj ect "1."
2. Project "I" will be located within S1. Lucie County.
3. Project "I" will relocate its corporate headquarters to S1. Lucie County and will
employee more than one hundred fifty (150) people.
4. Project "I" will employee more than one hundred fifty (150) people at an average
annual wage in excess of fifty thousand and 00/1 00 dollars ($50,000.00).
5. Project "I" would not relocate its headquarters to S1. Lucie County without the
incentive available through the Qualified Target Industry Tax Refund Program.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
St. Lucie County, Florida as follows:
A. The Board hereby recommends Project "I" be approved as a Qualified Target
Industry Business pursuant to Section 288.106, Florida Statutes.
B. The necessary commitment of local financial support for the Qualified Target
Industry Business for the Qualified Target Industry Tax Refund Program exists in
the total amount of seven hundred fifty thousand and 00/1 00 dollars
($750,000.00) through a minimum County appropriation of one hundred fifty and
00/1 00 dollars ($150,000.00). 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 under Section 288.106, Florida Statutes.
C. This resolution shall take effect upon adoption.
After motion and second the vote on this resolution was as follows:
Chairman Doug Coward AYE
Vice Chairman Chris Craft AYE
Commissioner Paula A. Lewis AYE
Commissioner Joseph E. Smith AYE
Commissioner Frannie Hutchinson AYE
PASSED AND DULY ADOPTED this 20th day of December, 2005.
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DEPUTY CLERK
BOARD OF COUNTY COMMISSIONERS
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CHA RM
ATTEST:
APPROVED AS TO LEGAL FORM AND
CORRECTNESS:
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fv(j COUNTY ATTORNEY
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