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- a i <br /> a T R <br /> r RESOLUTION NO. 2005-132 <br /> WHEREAS, the State of Florida's QTI grant program requires a 20% local government <br /> match to qualify XStream Systems Inc. for the state's QTI grant; and <br /> WHEREAS, XStream Systems Inc. has submitted an application for a local jobs grant; <br /> and <br /> WHEREAS, the XStream Systems Inc. local jobs grant application meets all applicable <br /> county requirements. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br /> COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA that the Board of County <br /> Commissioners hereby recommends to Enterprise Florida that XStream Systems Inc. be <br /> approved as a Qualified Target Industry Business pursuant to s.288.106,Florida Statutes, and <br /> ,I <br /> BE IT FURTHER RESOLVED that the Board of County Commissioners hereby agrees <br /> to make the necessary commitment of local financial support for XStream Systems' application <br /> for the Qualified Target Industry Tax Refund Program in the amount of up to $500,000. Payment <br /> is proposed to be made in the following increments: State FY 2007-08 - $100,000, State FY <br /> 2008-09 - $100,000, State FY 2009-10 - $100,000, State FY 2010-11 - $100,000, State FY 2011- <br /> 12 - $100,000. Funds are to be paid to the Florida Economic Development Trust Fund with the <br /> stipulation that these funds are intended to represent the "local participation" required by <br /> s.288.106, Florida Statutes. <br /> The foregoing Resolution was offered by Commissioner Bowden , and <br /> second by Commissioner Davi s , and being put to vote, the vote was <br /> as follows: <br /> Thomas S. Lowther, Chairman Absent <br /> Arthur R. Neuberger, Vice Chairman Aye <br /> Wesley S. Davis, Commissioner Aye <br /> 2 of 3 <br />