HomeMy WebLinkAbout24-170 RESOLUTION NO. 2024-170
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF ST. LUCIE COUNTY APPROVING
CERTAIN INCENTIVES ON BEHALF OF PROJECT HAMMY
WHEREAS, the Board of County Commissioners of St. Lucie County, Florida, has
made the following determinations:
1. Project Hammy is a family-owned business founded in 2015 and based headquartered in
Fort Pierce, Project Hammy is the leading nationwide distributor of sports nutrition and health
products. They offer full range of premium brands with quality, high-margin products that brick-
and-mortar can stay competitive and profitable.
2. Project Hammy employs thirteen (13) production, professional and managerial level
employees in St. Lucie County, is a proven economic driver, and is a respected company in the
wholesale distribution industry.
3. Project Hammy is committed to investing in the economic wellbeing of St. Lucie County
by maintaining its headquarters here and continuing to support and encourage its employees
through training.
4. Project Hammy plans to construct an expanded new corporate headquarters and
distribution facility of approximately twenty-five thousand square feet (25,000 sq. ft.). The project
will include a capital investment of approximately $2,200,000.00 in real property and
approximately $150,000.00 in tangible personal property by December 31, 2026.
5. Project Hammy will retain its existing employees and create thirty (30) new full-time
equivalent jobs(FTEs) paying an average annual wage of fifty-three thousand dollars ($53,000),
110% of St. Lucie County's average annual wage, and a generous benefits package to its
employees. The employment schedule consists of 13 retained jobs and 10 new FTEs in Year
1, 10 new FTEs in Year 2, and 10 new FTEs in Year 3.
6. St. Lucie County is offering an incentive package to Project Hammy for the benefit of the
residents of St. Lucie County, for continued capital investment and the creation of new full-time
and/or full-time equivalent jobs.
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 development of Project Hammy's new facility, 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 Project Hammy for the
creation of 30 new FTEs over a three-year period pursuant to the Job Growth
Investment Grant guidelines.
B. St. Lucie County Ad-Valorem Tax Exemption on Red and Tangible Personal
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Property: The Board authorizes County staff to assist 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% each year for the first five years and for the last five years on a
declining percentage schedule for the remaining period (90%, 80%, 60%,
40%, 20%) for consideration by the Board in accordance with Section 42-46,
St. Lucie County Code.
C. St. Lucie County Road Impact Fee Mitigation (IFM):The Board authorizes County
staff to prepare an Impact Fee Mitigation Agreement with and/or its subsidiaries
or successors for the creation of 30 new jobs pursuant to St. Lucie County's
Impact Fee Mitigation Program guidelines.
D. After motion and second, the vote on this Resolution was as follows:
After motion and second, the vote on this resolution was as follows:
Commissioner Cathy Townsend, Chair AYE
Commissioner Chris Dzadovsky, Vice Chair AYE
Commissioner Linda Bartz AYE
Commissioner Jamie Fowler AYE
Commissioner Larry Leet AYE
PASSED AND DULY ADOPTED this 17th day of September, 2024.
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