13-23QUALIFIED TARGET INDUSTRY TAX REFUND
WITH CASH LOCAL FINANCIAL SUPPORT
RESOLUTION NO. 13 -23
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, RECOMMENDING PROJECT ZONE
BE APPROVED AS A QUALIFIED TARGET INDUSTRY
BUSINESS PURSUANT TO S.288.106, FLORIDA STATUTES;
PROVIDING FOR LOCAL FINANCIAL SUPPORT IN THE FORM
OF CASH; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the business under consideration is a corporate headquarters for
Project Zone; and
WHEREAS, Project Zone has been identified as a Target Industry Business; and
that the Council hereby recommends Project Zone be approved as a Qualified Target Industry
Business pursuant to s.288.106. Florida Statutes, to encourage the growth of Florida's high -
wage, value -added employment; and
WHEREAS, Project Zone intends to locate in the City of Clearwater; and create
thirty -five new full -time jobs in year one, qualifying as high -value added jobs, and
WHEREAS, Project Zone will commit to pay an average annual wage of at least
$80,744.00 which is at least 200% of the Pinellas County average wage requirements for QTI
incentives effective January 1, 2012; and
WHEREAS, the City of Clearwater Council finds that providing the QTI Program
tax refunds to Project Zone serves the public purpose of promoting positive impacts on and
benefits to the City of Clearwater's economic vitality.
WHEREAS, the City of Clearwater will contribute local financial support in the
form of cash for the Qualified Targeted Industry Tax Refund; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CLEARWATER,
FLORIDA:
Section 1. Florida Statutes Section s.288.106 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 $35,000, 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 Zone for the City of Clearwater local financial support for the Qualified Target Industry
Tax Refund Program in the amount of $17,500. However, in no event will the total contribution
of the City of Clearwater for Project Zone exceed $17,500. 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
s.288.106, Florida Statutes.
Resolution 13 -23
Section 2. This resolution shall take effect immediately upon its adoption.
PASSED and ADOPTED this 19th day of Sept, 2013.
CITY OF CLEARWATER, FLORIDA
Countersigned:
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George N. Cretekos
Mayor
Approved as o form:
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Pam ela K. kin
City Attorney
By:
W/am B. Horne II
Ci y Manager
Attest:
Rosemarie Call
City Clerk
Resolution 13 -23