16-12QUALIFIED TARGET INDUSTRY TAX REFUND PROGRAM
WITH CASH LOCAL FINANCIAL SUPPORT
PROVIDED BY TWO OR MORE LOCAL ENTITIES
RESOLUTION NUMBER 16 -12
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 Clearwater City Council adopted Resolution 16 -01 on March 3,
2016, endorsing the application of Project Sweetooth for a Qualified Target Industry Tax Refund
and committing local financial support of ten (10 %) of the eligible tax refund in accordance
therewith upon certification by the State of Florida Department of Economic Opportunity (DEO);
and
WHEREAS, Project Sweetooth has adjusted the number of jobs to be created
from 12 to 13 in order to exceed 10% job creation as required by s.288.106, Florida Statutes;
and
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 13 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 $65,000 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 $6,500, which is 10 percent of the total required QTI local
financial support;
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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.
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 $6,500, in order to realize not less than 10% job creation, 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 19 day of
May, 2016.
ATTEST:
Countersigned:
— t1 CrAt ico;
George N. Cretekos
Mayor
Appr
ved as to form:
Laura Lipowski Mahony
Assistant City Attorney
CITY OF CLEARWATER, FLORIDA
By: e
William B. Horne II
City Manager
Attest:
of: Ros -marie Call
City Clerk
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