05-06
RESOLUTION NO, 05-06
A RESOLUTION OF THE CITY OF CLEARWATER,
FLORIDA, FINDING THAT PROJECT 010605 BE
APPROVED AS A QUALIFIED APPLICANT PURSUANT TO
SECTION 288.106, FLORIDA STATUTES; AND
IDENTIFYING SOURCES OF CITY OF CLEARWATER
FINANCIAL SUPPORT OF PROJECT 010605 AND EQUAL
PINELLAS COUNTY SUPPORT AS LOCAL
PARTICIPATION IN THE QUALIFIED TARGET INDUSTRY
TAX REFUND PROGRAM FOR FISCAL YEARS 2005-06,
2006-2007, 2007-08, 2008-09 and 2009-2010; PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the Legislature of the State of Florida has enacted Chapter 94-136,
Laws of Florida, creating Section 288.106, Florida Statutes, to encourage the growth of
Florida's high-wage, value-added employment; and
WHEREAS, Section 288.106, Florida Statutes, authorizes the Florida Department
of Commerce to accept, review and approve applications for tax refunds to qualified
target industry businesses; and
WHEREAS, Section 288.106, Florida Statutes, requires 20% local financial
partiCipation as tax refunds become due; and
WHEREAS, PROJECT 010605 wishes to expand its Clearwater office to hire forty-
five (45) additional employees over the next two years, qualifying as high-value-added
jobs; and
WHEREAS, PROJECT 010605 will be located in the City of Clearwater and will
provide high-value-added employment to citizens of the City of Clearwater; and
WHEREAS, the City of Clearwater finds that providing tax refunds and other tax
incentives to PROJECT 010605 is vital to the public purpose of employing City of
Clearwater citizens and ensuring the City's economic vitality; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. The City of Clearwater hereby recommends PROJECT 010605 be
approved as a Qualified Target Industry Business pursuant to Section 288.106, Florida
Statutes. This recommendation is based upon the creation of the specified jobs and is
contingent upon the City's review of PROJECT 010605 final application to bea Qualified
Target Industry Business and confirmation of the information therein.
Resolution 05-06
Section 2. The necessary commitment of local financial support for the
Qualified Target Industry Business for the Qualified Target Industry Tax Refund Program
has been identified in the amount of $27,000, consisting of 50% of the local contribution
coming from Pinellas County and 50% coming from the City of Clearwater subject to
annual appropriations, which will be paid to the Florida Economic Development Trust
Fund as tax refunds become due with the stipulation that these funds are intended to
represent the local financial support required by Section 288.106, Florida Statutes and
are conditional upon the applicant meeting all statutory requirements of the program.
Nothing herein will prevent other jurisdictions or the private sector from increasing their
contributions. However, in no event will the total contribution of the City of Clearwater for
PROJECT 010605 exceed $13,500.
Section 3. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 17th day of February ,2005.
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Frank Hibbard, Mayor
Approved as to form:
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Pamela K. Akin, City Attorney
Attest:
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Cy t ia E. G.oudealt, City Clerk
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Resolution No. 05-06