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INDIAN RIVER COUNTY, FLORIDA / a A ! MEMORANDUM TO: Jason E. Brown, County Administrator THROUGH: Stan Boling, AICP; Community Development Director THROUGH: Sasan Rohani, AICP; Chief, Long -Range Planning FROM: Bill Schutt, AICP Senior Economic Development Planner, Long Range Planning DATE: October 9, 2017 RE: Revisions to the County's Local Job Grant Program Award Computation Methodology It is requested that the information herein presented be given formal consideration by the Board of County Commissioners at its meeting of October 24, 2017. INTRODUCTION On June 20, 2017, County staff presented to the Economic Development Council (EDC) a proposal to simplify the County's local jobs grant payment computation methodology. At that meeting staff informed the EDC that the business community had expressed concern regarding the overall complexity of the program. After discussion, the EDC voted to table the item (Attachment 3). Overall, the EDC expressed concerns that the proposed alternative payment methodology could result in potential higher payments to companies. On August 15, 2017, the Board of County Commissioners (BCC) discussed the EDC's vote under Commissioner Solari's matters (Attachments 4 and 5). At that time Commissioner Solari expressed concern the current payment computation methodology is too complicated and that the EDC did not vote to move the item forward to the BCC for consideration. The BCC discussed and voted 5- 0 for staff to formally review the item with the BCC, to have staff follow up with private companies that received local jobs grants to get their feedback on the proposed simplified methodology, and to report back to the BCC (Attachment 5). DESCRIPTION AND CONDITIONS As part of the County's initiatives to improve the local economic base, a package of economic development incentives designed to attract targeted businesses to the county and to encourage P154