13-26QUALIFIED TARGET INDUSTRY TAX REFUND
WITH CASH LOCAL FINANCIAL SUPPORT
RESOLUTION NO. 13 -26
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
CLEARWATER, FLORIDA, RECOMMENDING PROJECT
WOODSTORK 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 Woodstork; and
WHEREAS, Project Woodstork has been identified as a Target Industry
Business; and that the Council hereby recommends Project Woodstork 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 Woodstork intends to expand in the City of Clearwater; and
create ten new full -time jobs in year one, and 10 new full -time jobs in year two, qualifying as
high -value added jobs, and
WHEREAS, Project Woodstork will commit to pay an average annual wage of at
least $50,000.00 which is at least 115% of the State of Florida average wage requirements for
QTI incentives effective January 1, 2013; and
WHEREAS, the City of Clearwater Council finds that providing the QTI Program
tax refunds to Project Woodstork 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 $20,000, 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 Woodstork for the City of Clearwater local financial support for the Qualified Target
Industry Tax Refund Program in the amount of $10,000. However, in no event will the total
contribution of the City of Clearwater for Project Woodstork exceed $10,000. This amount will
be made available in accordance with the guidelines set forth by the Department of Economic
Resolution 13 -26
Opportunity with the stipulation that these funds are intended to represent local financial support
pursuant to s.288.106, Florida Statutes.
Section 2. This resolution shall take effect immediately upon its adoption.
PASSED and ADOPTED this 3rd day of Oct . , 2013.
CITY OF CLEARWATER, FLORIDA
Countersigned:
c( eirxte #ucit Ios
George N. Cretekos
Mayor
Approved a to form:
Pamela K. Akin
City Attorney
By: L) LQQL44 .
William B. Horne II
City Manager
Attest:
Rosemarie Call
City Clerk
Resolution 13 -26