16-01QUALIFIED TARGET INDUSTRY TAX REFUND PROGRAM
WITH CASH LOCAL FINANCIAL SUPPORT
PROVIDED BY TWO OR MORE LOCAL ENTITIES
RESOLUTION NUMBER 16 -01
A RESOLUTION BY THE GOVERNING BOARD OF THE CITY
OF CLEARWATER, FLORIDA, THE CLEARWATER CITY
COUNCIL, RECOMMENDING PROJECT SWEETOOTH, 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.
BE IT RESOLVED BY THE GOVERNING BOARD OF THE CITY OF
CLEARWATER, FLORIDA, THE CLEARWATER CITY COUNCIL, as follows:
WHEREAS, the business under consideration is an international headquarters
and manufacturing business, specifically, Project Sweetooth; and
WHEREAS, Project Sweetooth is located in the City of Clearwater, Florida; and
WHEREAS, Project Sweetooth has been identified as a Target Industry
Business; and
WHEREAS, Project Sweetooth plans to expand operations and to create
additional jobs in the City of Clearwater. The Company projects to add 12 jobs over one year
beginning in 2016; and
WHEREAS, CITY OF CLEARWATER hereby acknowledges that local financial
support of 20% of the total tax refund of $60,000 is required under the provisions of s.288.106,
Florida Statutes, governing the State's Qualified Target Industry. Tax Refund Program; and
WHEREAS, PINELLAS COUNTY has agreed to participate in the provision of
local financial support by committing $6,000, which is 10 percent of the total required QTI local
financial support;
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BOARD OF
THE CITY OF CLEARWATER, FLORIDA, THE CLEARWATER CITY COUNCIL, hereby
recommends Project Sweetooth be approved as a Qualified Target Industry Business pursuant
to s.288.106, Florida Statutes.
BE IT FURTHER RESOLVED, that the GOVERNING BOARD OF THE CITY OF
CLEARWATER, FLORIDA, THE CLEARWATER CITY COUNCIL, has determined the basis of
this project's average private sector wage commitment calculation shall be 115% of the
statewide average annual wage effective January 1, 2015.
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BE IT FURTHER RESOLVED, that the necessary cash commitment of local
financial support for the Qualified Target Industry Tax Refund Program exists for Project
Sweetooth in the amount of $6,000, which is 10 percent of the total required QTI local financial
support, and that 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 the "local financial support" required by s.288.106, Florida Statutes.
This resolution shall take effect immediately upon its adoption.
DULY ADOPTED BY THE GOVERNING BOARD OF THE CITY OF
CLEARWATER, FLORIDA, THE CLEARWATER CITY COUNCIL, this 3'-4-day of
Jia- OL- , 2016.
ATTEST:
Countersigned: t
C((t1 C' ektkos
George N. Cretekos
Mayor
i ppr
ved as to form:
Laura Lipowski Maho
Assistant City Attorney
CITY OF CLEARWATER, FLORIDA
By: ,cX:L vL A- /144-vut-mi_
William B. Home II
City Manager
Attest:
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Rosemarie Call
City Clerk
STAMP AND SIGNATURE OF NOTARY