Miami-Dade Legislative Item
File Number: 112377
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File Number: 112377 File Type: Resolution Status: Adopted
Version: 0 Reference: R-1070-11 Control: County Commission
File Name: QTI RE: CONFIDENTIAL PROJECT 11-00246 Introduced: 11/8/2011
Requester: Sustainability, Planning & Economic Enhancement Cost: Final Action: 12/6/2011
Agenda Date: 12/6/2011 Agenda Item Number: 8N1
Notes: TLL- 11/8/2011 Title: RESOLUTION APPROVING CONFIDENTIAL PROJECT NO. 11-00246 AS A QUALIFIED TARGET INDUSTRY BUSINESS PURSUANT TO FLORIDA STATUTE 288.106; CONFIRMING THAT THE COMMITMENTS OF LOCAL FINANCIAL SUPPORT NECESSARY FOR CONFIDENTIAL PROJECT NO. 11-00246 EXIST; AND PROVIDING AN APPROPRIATION OF UP TO $36,400 FROM GENERAL REVENUE FUNDS AS LOCAL PARTICIPATION IN THE STATE OF FLORIDA QUALIFIED TARGET INDUSTRY TAX REFUND PROGRAM FOR FISCAL YEARS 2013 THROUGH 2019, INCLUSIVE, OR OVER A TIME PERIOD AS DETERMINED BY THE STATE OF FLORIDA IN ITS APPROVAL OF CONFIDENTIAL PROJECT NO. 11-00246; AND PROVIDING FOR AN EFFECTIVE DATE
Indexes: NONE
Sponsors: Rebeca Sosa, Prime Sponsor
Sunset Provision: No Effective Date: Expiration Date:
Registered Lobbyist: None Listed


Legislative History

Acting Body Date Agenda Item Action Sent To Due Date Returned Pass/Fail

Board of County Commissioners 12/6/2011 8N1 Adopted P

Economic Development & Social Services Committee 11/9/2011 3G Forwarded to BCC with a favorable recommendation P

County Mayor 11/8/2011 Additions

County Attorney 11/8/2011 Assigned Brenda Kuhns Neuman 11/8/2011

County Mayor 11/8/2011 Assigned County Attorney 12/6/2011
REPORT: SPEED (PENDING WAIVER) (ASST. COUNTY ATTY: BRENDA NEUMAN KUHNS) (BCC SPONSOR: CMSR SOSA)

County Mayor 11/8/2011 Assigned Jack Osterholt 11/8/2011 11/8/2011

Legislative Text


TITLE
RESOLUTION APPROVING CONFIDENTIAL PROJECT NO. 11-00246 AS A QUALIFIED TARGET INDUSTRY BUSINESS PURSUANT TO FLORIDA STATUTE 288.106; CONFIRMING THAT THE COMMITMENTS OF LOCAL FINANCIAL SUPPORT NECESSARY FOR CONFIDENTIAL PROJECT NO. 11-00246 EXIST; AND PROVIDING AN APPROPRIATION OF UP TO $36,400 FROM GENERAL REVENUE FUNDS AS LOCAL PARTICIPATION IN THE STATE OF FLORIDA QUALIFIED TARGET INDUSTRY TAX REFUND PROGRAM FOR FISCAL YEARS 2013 THROUGH 2019, INCLUSIVE, OR OVER A TIME PERIOD AS DETERMINED BY THE STATE OF FLORIDA IN ITS APPROVAL OF CONFIDENTIAL PROJECT NO. 11-00246; AND PROVIDING FOR AN EFFECTIVE DATE

BODY
WHEREAS, this Board desires to accomplish the purposes outlined in the accompanying memorandum, Economic Impact Overview, and General Project Overview (attached) copies of which are incorporated herein by reference; and

WHEREAS, this Project commits to creating an additional 70 full-time equivalent jobs, as defined in Florida Statute Section 288.106, to Miami-Dade County by December 31, 2014 with an average salary of $88,000, which is at least 200 percent of the state average wage; and

WHEREAS, the tax refund may be prorated by the State of Florida pursuant to the terms of the General Project Overview in the event the Project creates fewer than 70 full-time equivalent jobs,

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board hereby finds that attracting, retaining and providing favorable conditions for the growth of target industries provides quality employment opportunities for residents of the County and enhances the County’s economic foundations and recommends that Confidential Project No. 11-00246 (the “Business”) be approved as a qualified target industry business pursuant to Florida Statute 288.106, which created the Qualified Target Industry Tax Refund Program.

The necessary commitment of local financial support for Confidential Project No. 11-00246 as required under Florida Statute 288.106, exists in an amount not to exceed $36,400 from General Revenue Funds; and that this local financial support will be available in the following increments:

Fiscal Year 2013 - 2014 $6,067.00
Fiscal Year 2014 - 2015 $6,067.00
Fiscal Year 2015 - 2016 $6,067.00
Fiscal Year 2016 - 2017 $6,067.00
Fiscal Year 2017 - 2018 $6,066.00
Fiscal Year 2018 - 2019 $6,066.00

TOTAL $36,400

Or payable over a time period and at annual amounts as determined by the State of Florida in its approval of Confidential Project No. 11-00246 application, as long as the $36,400 is not exceeded with the provision that any tax abatement granted to Confidential Project No. 11-00256, under Florida Statute 196.1995, reduces any QTI tax refund by the amount of any such abatement granted, in compliance with Florida Statute 288.106(6)(d); the County’s funds will be paid to the Florida Economic Development Trust Fund with the stipulation that these funds are intended to represent the “local financial support” required by Florida Statute 288.106 for Confidential Project No. 11-00246 in compliance with the QTI Program, including the requirement that at the Business expand by or through additions to real and personal property, resulting in the net increase in employment of 70 full-time equivalent jobs, unless prorated by the State pursuant to the General Project Overview.

The necessary commitment of local financial support shall be contingent on Confidential Project No. 11-00246 maintaining the jobs during the life of the incentive and ensuring that its hiring practices aspire to be consistent with and reflect the diversity of the Miami-Dade County community.

The anticipated dates for job creation and disbursement of incentive awards are subject to change at the direction of the County Mayor or the County Mayor’s designee if in the best interest of the County.

HEADER
Date:

To: Honorable Chairman Joe A. Martinez
and Members, Board of County Commissioners

From: Carlos A. Gimenez
County Mayor

Subject: Resolution Approving Qualified Target Industry Tax Refund for Confidential Project 11-00246

STAFF RECOMMENDATION
Recommendation
The Beacon Council, on behalf of a firm that requests confidentiality, has submitted an application for economic development incentives from the State of Florida (State) and Miami-Dade County that require approval from the Board of County Commissioners (BCC). It is recommended that the BCC approve the attached resolution authorizing Confidential Project 11-00246 (the “Business”) to be recognized by the State as a Qualified Target Industry (QTI) business and entitled to the financial benefits afforded under the QTI tax refund program.

The attached documents relating to the application of a tax refund under the Florida QTI business incentive program, pursuant to Florida Statutes Section 288.106, have been prepared by The Beacon Council and reviewed by the Sustainability, Planning, and Economic Enhancement Department.

The anticipated dates for job creation and disbursement of incentive awards are set forth in the Resolution but are subject to change at the direction of the County Mayor or the County Mayor’s designee.

BODY
Scope
The business operations of this project will create 70 new full-time equivalent jobs, as defined in Florida Statute Section 288.106, over a three-year period. The district location of this project has not been determined; however, the jobs will have a positive countywide impact through indirect employment and a multiplier effect.

This Business is considering leasing and renovating approximately 25,000 square feet of an existing building in Miami-Dade County to establish its regional headquarters. The Business is also considering Chicago, Illinois as a potential location for this expansion.

Fiscal Impact / Funding Source
Confidential Project 11-00246 has applied for a total of $182,000 in QTI funds, of which 80 percent ($145,600) would be provided by the State. If the accompanying resolution is approved by the BCC, the County is committed to providing an award of no greater than $36,400 (or $520 per new job) in matching funds from countywide general fund revenues over a six-year period beginning in FY 2013-2014.

Track Record/Monitor
QTI funds awarded for job creation are provided on a matching basis upon the State invoicing the County for jobs created and verified by the State. The State effectively monitors the creation of the QTI jobs and provides such information to the County. The County’s matching funds are distributed only if the applicant complies with the commitment to create the number of new jobs indicated in the accompanying QTI application (see Attachment to the General Project Overview) and all other conditions of the incentive program. QTI incentive payments are contingent upon the company meeting its target of additional jobs.

Economic Impact Overview
The Business is a beverage manufacturing and distribution company with operations in the Midwest and in Latin America with annual sales of $7 billion. The Business is considering relocating its Latin American Headquarters to Miami-Dade County.

Confidential Project 11-00246 would be an expanding beverage manufacturing and distribution company seeking to establish its regional headquarters (NAICS Code # 551114) in Miami-Dade County. The Business would employ 70 new workers at its Miami-Dade County facility paying an average annual salary of $88,000, which represents over 200 percent of the state average wage. Employee benefits associated with each new job created will be $30,000 according to documents submitted by The Beacon Council.

If approved, the Business plans to commit to an investment of $2.16 million, of which $1,500,000 is allocated to construction/renovation, and $660,000 to computer and office equipment.

The Beacon Council projects that the $2.16 million in direct investment by the Business and the local economic impact from operations will generate approximately $44,121 in countywide general fund revenues to Miami-Dade County over the six years the company is eligible for QTI cash incentives.

Attachments


_______________________________
Deputy Mayor



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