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<br /> <br /> <br /> <br /> Director Keating continued that this process is a way for the County to incentivize industry <br />by paying for a portion of the needed infrastructure. The County has agreed to provide up to <br />$1,500,000 for such infrastructure and, if the developer is successful in providing high-paying jobs <br />as intended, the loan to the developer of this sum, or a portion of this sum, could be forgiven. <br /> <br /> The Chairman opened the public hearing and asked if anyone wished to be heard regarding <br />this matter. <br /> <br />Bob Johnson <br /> , Coral Wind, reminded the Board that the taxpayers had voted down any tax <br />breaks to such developers and asked for clarification on this issue. <br /> County Administrator Joe Baird emphasized that this concession is not a tax abatement but <br />is strictly for infrastructure. The funds used to pay for that infrastructure will come from the <br />optional sales tax and other sources. The developer will pay taxes on their assessment as does <br />every taxpayer. <br /> Commissioner Macht noted that the project will generate taxes of $1,200,000 in the first <br />year and the County will more than recover its costs. <br /> <br />Renee Renzi <br /> , 340 Waverly Place, questioned the fact that only 26 jobs appear on the <br />application, and Director Keating responded that number was all that was required on the <br />application and noted that the consultant is guiding the County through this application process. <br /> <br /> The Chairman asked if anyone else wished to be heard with regard to this matter. There <br />being none, the Chairman closed the public hearing. <br />AUGUST 17, 2004 14 <br /> <br />