HomeMy WebLinkAbout2016-048RESOLUTION NUMBER 2016 _ 048
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA,
RECOMMENDING PROJECT TREADSTONE BE APPROVED AS
A QUALIFIED TARGET INDUSTRY BUSINESS PURSUANT TO
S.288.106, FLORIDA STATUTES; PROVIDING FOR LOCAL
FINANCIAL SUPPORT IN THE FORM OF CASH FOR THE
QUALIFIED TARGET INDUSTRY TAX REFUND WITH HIGH -
IMPACT SECTOR BONUS; PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, the business under consideration is a Financial Services business, specifically,
Project Treadstone; and
WHEREAS, Project Treadstone is located/or intends to locate within Indian River County; and
WHEREAS, Project Treadstone has been identified as a Target Industry Business and,
moreover, falls within one of the high -impact sectors designated under Florida Statute 288.108,
specifically Financial Services and is eligible to apply for the Qualified Target Industry Tax
Refund with a High -Impact Sector Bonus, pursuant to s.288.106; and
WHEREAS, Project Treadstone plans to relocate its national headquarters to Indian River
County; and
WHEREAS, Project Treadstone is projecting to create twenty-five (25) full-time equivalent new
jobs in Indian River County and the average wage for the additional jobs will exceed the area's
average wage; and
WHEREAS, Project Treadstone has prepared an application for a grant under the State of
Florida's Qualified Target Industry (QTI) Tax Refund Program; and
Project Treadstone QTI Resolution Page 1 of 3
WHEREAS, Indian River County hereby acknowledges that local financial support of 20% of
the total tax refund is required under the provisions of s.288.106, Florida Statutes, governing the
State's Qualified Target Industry Tax Refund Program; and
WHEREAS, Indian River County has a local jobs grant program which is used to provide
required local financial support for State QTI program applicants that locate within Indian River
County; and
WHEREAS, Project Treadstone has submitted an application for a local jobs grant; and
WHEREAS, the Project Treadstone local jobs grant application meets all applicable county
requirements.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that the Board hereby
recommends Project Treadstone be approved as a Qualified Target Industry Business pursuant to
s.288.106, Florida Statutes.
BE IT FURTHER RESOLVED that the Board of County Commissioners of Indian River
County, Florida has determined the basis of this project's average private sector wage
commitment calculation shall be 200% of the County average annual wage ($75,764).
BE IT FURTHER RESOLVED, that a cash commitment of local financial support for the
Qualified Target Industry Tax Refund with High -Impact Sector Bonus exists for Project
Treadstone in the amount of $35,000, which includes $25,000 for the Qualified Target Industry
Tax Refund and $10,000 for the High -Impact Sector Refund. This amount will be made
available in accordance with the guidelines set forth by the Department of Economic
Opportunity with the stipulation that these funds are intended to represent local financial support
pursuant to s.288.106, Florida Statutes.
Project Treadstone QTI Resolution Page 2 of 3
The foregoing Resolution was offered by Commissioner O' Bryan , and
second by Commissioner Zorc , and being put to vote, the vote was
as follows:
Bob Solari, Chairman
AYE
Joseph E. Flescher, Vice Chairman
AYE
Wesley S. Davis, Commissioner
AYE
Peter D. O'Bryan, Commissioner
AYE
Tim Zorc, Commissioner
AYE
The chairman thereupon declared the resolution duly passed and adopted this 7th day of
June, 2016.
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY
BY A.��—�
Bob Solari, Chairman J��M'•"•••.O
or
v
ATTEST BY- J�ffrey R. Smith, Clerk of Court and Comptroller
By
DII pit Clerk
APPROVED AS TO FORM AND LEGAL SUFFICIENCY
WilKiarn K. De Araal, Deputy County Attorney
APPROVED AS TO PLANNING MATTERS
Stan Boling,I P; Community Development Director
F:\Community Development\Users\EDplannr\INCENT IVES & FUNDINGUobs Grant Program\Project Treadstone\QTI Application &
related\QTI Resolution - Project Treadstone - Attachment 3.doc
Project Treadstone QTI Resolution Page 3 of 3