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WHEREAS, Indian River County hereby acknowledges that local financial support of 20% of <br />the total tax refund is required under the provisions of x.288.106, Florida Statutes, governing the <br />State's Qualified Target Industry Tax Refund Program; and <br />WHEREAS, Indian River County has a local jobs grant program which is used to provide <br />required local financial support for State QTI program applicants that locate within Indian River <br />County, and <br />WHEREAS, Project Treadstone has submitted an application for a local jobs grant; and <br />WHEREAS, the Project Treadstone local jobs grant application meets all applicable county <br />requirements. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that the Board hereby <br />recommends Project Treadstone be approved as a Qualified Target Industry Business pursuant to <br />s.288.106, Florida Statutes. <br />BE IT FURTHER RESOLVED that the Board of County Commissioners of Indian River <br />County, Florida has determined the basis of this project's average private sector wage <br />commitment calculation shall be 200% of the County average annual wage ($75,764). <br />BE IT FURTHER RESOLVED, that a cash commitment of local financial support for the <br />Qualified Target Industry Tax Refund with High -Impact Sector Bonus exists for Project <br />Treadstone in the amount of $35,000, which includes $25,000 for the Qualified Target Industry <br />Tax Refund and $10,000 for the High -Impact Sector Refund. This amount will be made <br />available in accordance with the guidelines set forth by the Department of Economic <br />Opportunity with the stipulation that these funds are intended to represent local financial support <br />pursuant to s.288.106, Florida Statutes. <br />Project Treadstone QTI Resolution Page 2 of 3 <br />