98-03
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RESOLUTIONS
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RESOLUTION NO. 98-03
A RESOLUTION OF THE CITY OF CLEARWATER,
FLORIDA, FINDING THAT PROJECT 97~1215 BE
APPROVED AS A QUALIFIED APPLICANT PURSUANT
TO SECTION 288.106, FLORIDA STATUTES; AND
IDENTIFYING SOURCES OF CITY OF CLEARWATER
FINANCIAL SUPPORT OF PROJECT 97-1215 AND
EQUAL PINELLAS COUNTY SUPPORT AS LOCAL
PARTICIPATION IN THE QUALIFIED TARGET INDUSTRY
TAX REFUND PROGRAM FOR FISCAL YEARS 1998 -
2002; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Legislature of the State of Florida has enacted Chapter 94-136,
Laws of Florida, creating Section 288.106, Florida Statutes, to encourage the growth of
Florida's high-wage, value-added employment; and
WHEREAS, Section 288.106, Florida Statutes, authorizes the Florida
Department of Commerce to accept, review and approve applications for tax refunds to
qualified target industry businesses; and
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WHEREAS, Section 288.106, Florida Statutes, requires 20% local financial
pa~icipation as tax refunds become due; and
WHEREAS, PROJECT 97-1215 wishes to expand its plant facilities and projects
to hire 560 employees over the next four years, qualifying as high-value-added jobs;
and
WHEREAS; PROJECT 97-1215 will be located in the City of Clearwater and will
provide high-value-added employment to citizens of the City of Clearwater;.and
WHEREAS, the City of Clearwater finds that providing tax refunds and other tax
incentives to PROJECT 97-1215 is vital to the public purpose of employing City of
ClealWater citizens and ensuring the City's economic vitality; now, therefore,
BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF CLEARWATER; FLORIDA:
Section 1. The City of Clearwater hereby recommends PROJECT 97-1215 be
approved as a QuaHfied Target Industry Business pursuant to Section 288.106, Florida
Statutes. This recommendation is based upon the creation of the specified jobs and is
contingent upon the City's review of PROJECT 97-1215 final application to be a
Qualified Target Industry Business and confirmation of the information therein.
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Resolution No. 98-03
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Section 2. The necessary commitment of local financial support for the
Qualified Target Industry Business for the Qualified Target Industry Tax Refund
Program has been Identified in the amount of $560,000, consisting of 50% of the local
contribution coming from Pine lias County and 50% coming from the City of Clearwater
subject to annual appropriations, which will be paid to the Florida Economic
Development Trust Fund as tax refunds become due with the stipulation that these
funds are intended to represent the local financial support required by Section 288.106,
Florida Statutes and are conditional upon the applicant meeting all statutory
requirements of the program. Nothing herein will prevent other jurisdictions or the
private sector from increasing their contributions. However, in no event will the total
contribution of the City of Clearwater for PROJECT 97-1215 exceed $280,000.
Section 3. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this --15~ day of January, 1998
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Approved as to form:
Attest:
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John Carassas, Assistant City Attorney
~2.
ia E. Goudeau, City Clerk
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Resolution No. 98-03
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