HomeMy WebLinkAbout09-233
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RESOLUTION NO. 09-233
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY RECOMMENDING THAT. PROJECT CAN DO BE APPROVED AS A
QUALIFIED TARGET INDUSTRY BUSINESS PURSUANT TO SECTION 288.106,
FLORIDA STATUTES; PROVIDING AN APPROPRIATION OF ONE HUNDRED AND
TWENTY-EIGHT THOUSAND AND 00/100 DOLLARS ($128,000.00) AS LOCAL
PARTICIPATION.IN THE QUALIFIED TARGET INDUSTRY TAX REFUND PROGRAM;
PROVIDING AS ADDITIONAL LOCAL PARTICIPATION AN AD VALORM TAX
ABATEMENT ESTIMATED TO BE VALUED AT ONE MILLION ONE HUNDRED AND
THIRTEEN THOUSAND SEVEN HUNDRED AND FIFTY AND 00/100 DOLLARS
($1,113,750.00) PHASED OVER TEN YEARS SUBJECT TO THE ST. LUCIE BOARD OF
COUNTY COMMISSIONERS' APPROVAL AT A FUTURE PUBLIC HEARING, AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Board of County Commissioners for St. Lucie County, Florida, has made the
following determinations:
1. Project Can Do is a medical diagnostics research and manufacturing business.
2. Project Can Do will be located within St. Lucie County and will make a capital
investment of approximately twenty-seven million dollars ($27,000,000).
3. Project Can Do will employ one hundred and sixty (160) people at an average annual wage of
sixty thousand dollars ($60,000).
4. Project Can Do would not locate its facility to St. 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 Can Do 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 amount of one
hundred and twenty-eight and 00/100 dollars ($128,000.00) under the County's Impact Fee
Mitigation Program. Additional local participation also exists in an ad valorem tax abatement
estimated to be valued at one million one hundred and thirteen thousand seven hundred and
fifty and 00/100 dollars ($1,113,750.00) subject to Board approval at a future public hearing.
These amounts 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
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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:
Chair Paula A. Lewis AYE
Vice Chair Charles Grande AYE
Commissioner Doug Coward AYE
Commissioner Chris Craft AYE
Commissioner Chris Dzadovsky AYE
PASSED AND DULY ADOPTED this 25t" day of August, 2009.
ATTEST: BOARD OF COUNTY COMMISSIONERS
ST. LUCIE COUNTY, FLORIDA
Deputy Clerk Chair
~.I'~~r~.~ APPROVE AS TO FORM AND
_ CO N S•
i~~. . ~ . ~ BY:
~ County Attor
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