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12. DEPARTMENTAL MATTERS <br />12.A. COMMUNITY DEVELOPMENT <br />12.A.1. CONSIDERATION OF INEOS NEW PLANT BIOENERGYLLC'S REQUEST <br />FOR A LOCAL JOBS GRANT <br />Director Keating reviewed his Memorandum dated March 16, 2010. He provided a brief <br />history and defined the details of the County's Local Jobs Grant Program, which INEOS New <br />Planet BioEnergy LLC (INEOS) has applied for. He conveyed that INEOS is proposing to <br />locate to the Ocean Spray site in Vero Beach, and that the Economic Development Council <br />(EDC) recommended the Board approve their application for a grant of up to $310,000. He <br />provided an overview of the company's eligibility, the job creation threshold, grant calculations, <br />the Jobs Grant Agreement, and the two job incentive programs that INEOS plans to apply for - <br />the Qualified Target Industry (QTI) Tax Refund, and the Brownfield Redevelopment Bonus <br />Refund, both requiring a 20% match from the County. <br />Helene Caseltine, Economic Development Director for the Indian River County <br />Chamber of Commerce, voiced her supported for the program, and introduced INEOS <br />Representative David King. <br />David King, President of INEOS New Planet BioEnergy LLC, stated that his company <br />would be the first commercial plant using the INEOS bio -advanced technology for converting <br />waste into ethanol and renewable power, with the first phase being related to using vegetable <br />waste and construction of demolition debris. He provided project status, initiatives, and project <br />economics. He requested the Board approve the Local Jobs Grant Application and the <br />Resolution. <br />24 <br />March 23, 2010 <br />