18-02QUALIFIED TARGET INDUSTRY TAX REFUND PROGRAM
WITH CASH LOCAL FINANCIAL SUPPORT
PROVIDED BY TWO OR MORE LOCAL ENTITIES
RESOLUTION NUMBER 18-02
A RESOLUTION BY THE GOVERNING BOARD OF THE CITY
OF CLEARWATER, FLORIDA, THE CLEARWATER CITY
COUNCIL, RECOMMENDING PROJECT ARMOR 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 a Corporate, Subsidiary, and
Regional Managing Office, specifically, Project Armor; and
WHEREAS, Project Armor is located/or intends to locate in the City of
Clearwater, Florida; and
WHEREAS, Project Armor has been identified as a Target Industry Business;
and
WHEREAS, Project Armor plans to expand operations and to create additional
jobs in the City of Clearwater. The Company projects to add 50 jobs over three years beginning
in 2019; and
WHEREAS, City of Clearwater hereby acknowledges that local financial support
of 20% of the total tax refund of $250,000 is required under the provisions of s.288.106, Florida
Statutes, governing the State's Qualified Target Industry Tax Refund Program (QTI); and
WHEREAS, Pinellas County has agreed to participate in the provision of local
financial support by committing $25,000 which is 10% 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, that the
Board hereby recommends Project Armor 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 has determined the basis of this project's average private sector wage
commitment calculation shall be 115% of the statewide average annual wage for the year ended
December 31, 2016.
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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 Armor
in the amount of $25,000, which is 10% 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 1 3 day of
,jEz�v> , 2018.
ATTEST:
Countersigned:
Cte0 rN,t4 t\tiCO3
George N. Cretekos
Mayor
Appro ed as to form:
L1
Laura Mahony
Assistant City Attorney
CITY OF CLEARWATER, FLORIDA
By:
William B. Home II
City Manager
Attest:
V x 11
Rosemarie Call
City Clerk
STAMP AND SIGNATURE OF NOTARY
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