13-18QUALIFIED TARGET INDUSTRY TAX REFUND
MANUFACTURING PROJECT REQUESTING A WAGE WAIVER
WITH CASH LOCAL FINANCIAL SUPPORT
RESOLUTION NO. 13 -18
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, RECOMMENDING PROJECT BANNER
BE APPROVED AS A QUALIFIED TARGET INDUSTRY BUSINESS
PURSUANT TO SECTION 288.106, FLORIDA STATUTES;
AFFIRMING THIS IS A MANUFACTURING PROJECT; REQUESTING
A WAIVER OF THE AVERAGE WAGE REQUIREMENT OF SECTION
288.106(4)(b)1.a AS AUTHORIZED BY SECTION 288.106(4)(b)1.b
FLORIDA STATUTES; PROVIDING FOR LOCAL FINANCIAL
SUPPORT IN THE FORM OF CASH; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the business under consideration is a manufacturing business called
Project Banner; and
WHEREAS, Project Banner plans an expansion in the City of Clearwater, which will
create one hundred forty three jobs over the next two years based on the State of Florida Average
Wage requirements effective January 1, 2013 for Pinellas County; and
WHEREAS, Project Banner has been identified as a Target Industry Business; and
WHEREAS, because it is a manufacturing project, Project Banner is eligible to receive
a waiver of the average wage requirement of Section 288.106(4)(b)1.a, Florida Statutes, as
authorized by Section 288.106(4)(b) 1.b, Florida Statutes; and
WHEREAS, Project Banner will commit to pay an average annual wage of $41,810.00,
which is at least 100 %, but less than 115% of the Pinellas County average wage; and
WHEREAS, the City of Clearwater, Florida will contribute local financial support in the
form of cash as required under the provisions of Section 288.106, Florida Statutes, governing the
State's Qualified Target Industry Tax Refund Program;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA:
Section 1. The City Council hereby recommends Project Banner be approved as a
Qualified Target Industry Business pursuant to Section 288.106, Florida Statutes.
Section 2. The City Council of the City of Clearwater, Florida requests a waiver of the
average wage requirement of Section 288.106(4)(b)1.a, as provided in Section 288.106(4)(b)1.b,
Florida Statutes, because the proposed expansion will improve Tong -term viability of an existing
Resolution 13-18
product line, benefit local suppliers, increase the capital investment of real and personal property and
create 143 new jobs in the City.
Section 3. Section 288.106, Florida Statutes, requires 20% local financial participation as
tax refunds become due, and the necessary commitment of local financial support has been identified
in the amount of $85,800, consisting of 50% of the local contribution coming from Pinellas County and
50% coming from the City of Clearwater. A cash commitment exists for Project Banner for the City of
Clearwater local financial support for the Qualified Target Industry Tax Refund Program in the amount
$42,900. However, in no event will the total contribution of the City of Clearwater for Project Banner
exceed $42,900. This amount will be made available in accordance with the guidelines set forth by
the Department of Economic Opportunity with the stipulation that these funds are intended to
represent local financial support pursuant to Section 288.106, Florida Statutes.
Section 4. This resolution shall take effect immediately upon its adoption.
PASSED AND ADOPTED this 1 4uday of August, 2013.
Countersigned:
—4e,o4c A(eel(kof
George N. Cretekos
Mayor
CITY OF CLEARWATER, FLORIDA
By: ua 4,1:1e/Lba evLreC
lam B. Horne II
City Manager
ADrxoued as
to rm: to
amela K. Ak
City Attorney
Rosemarie Call
City Clerk
2Resolution 13 -18