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HomeMy WebLinkAbout19-045RESOLUTION 19-045 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF ST. LUCIE COUNTY APPROVING CERTAIN INCENTIVES ON BEHALF OF PB HOLDCO, LLC WHEREAS, the Board of County Commissioners of St. Lucie County, Florida, has made the following determinations: 1. PB HOLDCO, LLC (the "Company"), as one of St. Lucie County's Targeted Industries, has been an economic driver and leader in the boat manufacturing industry in St. Lucie County for over 35 years and employs 402 production, skilled trade, professional and management level executives. 2. The Company's average earnings per worker is well above the average earnings for St. Lucie County plus employees receive a generous benefits package. 3. The Company possesses a strong corporate culture of continual in-house skill building, cross -training and advanced career opportunities and has become a desired employer in the region, and one of the most respected companies in the boat manufacturing industry. 4. The Company is expanding its current operations with the construction of a new production facility with a capital investment of eighteen million and five hundred thousand dollars ($18,500,000) -adjacent to its existing facility and employee base. 5. In conjunction with its planned expansion and growth, the Company has worked with both County staff and the St. Lucie Economic Development Council to not only enable it to retain 402 existing jobs but create 200 new jobs. 7. In recognition of the Company's desire to expand locally, St. Lucie County is offering an economic incentive package to the Company for the benefit of the residents of St. Lucie County. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of St. Lucie County, Florida, that in consideration of the benefits gained by the residents of St. Lucie County through the expansion of PB HOLDCO, LLC's manufacturing facilities, the following incentives are offered: A. St. Lucie County Job Growth Incentive Grant (JGIG) — The Board authorizes County staff to prepare a JGIG agreement with the Company or its successors for the creation of 200 new jobs pursuant to the Job Growth Investment Grant guidelines. B. St. Lucie County Ad -Valorem Tax Exemption on New Real Property and Tangible Personal Property. The Board hereby makes a preliminary finding that the nature of the Company's expansion of its existing manufacturing facility meets the requirements for an Economic Development Ad Valorem Tax Exemption as set forth in Section 196.1995, Florida Statutes, and Section 42-28, St. Lucie County Code of Ordinances, subject to submission and review of an Economic Development Ad Valorem Tax Exemption application and adoption of an ordinance granting such exemption. The Board authorizes County staff to assist the Company or its successors in the application for a 10 -year ad valorem tax exemption as described in the County's Economic Development Ad Valorem Tax Exemptions program. The exemption is valued at 100% for the first five years and on a declining percentage schedule for the remaining 5 year period (90%-80%-60%-$40%-20%) for consideration by the Board in accordance with Section 42-46, St. Lucie County Code of Ordinances and Compiled Laws. C. Expedited Site Plan Review and Permitting: The Board authorizes County staff to expedite site plan review and permitting for the Company's proposed project. D. Road Impact Fee Credits: The Board authorizes County staff to assist the Company or its successors in the application for Road Impact Fee credits pursuant to Section 24-264, St. Lucie County Code of Ordinances and Compiled Laws. E. This resolution shall take effect on the date of adoption. F. After motion and second, the vote on this Resolution was as follows: Commissioner Linda Bartz, Chair AYE Commissioner Cathy Townsend, Vice Chair AYE Commissioner Chris Dzadovsky ABSTAINED Commissioner Sean Mitchell AYE Commissioner Frannie Hutchinson AYE PASSED AND DULY ADOPTED this 19th day of March, 2019. ATTEST: rVA4"Y Deputy erk 2 BOARD OF COUNTY COMMISSIONERS ST. LUCIE COUNTY, FLORIDA BY:.,L Chair APPROVED AS. TO FORM AND COF BY: