TITLE
RESOLUTION AMENDING RESOLUTION R-106-08 WHICH DESIGNATED MOBIS PARTS AMERICA, LLC AS A TARGETED JOBS INCENTIVE FUND PROGRAM BUSINESS TO EXTEND THE JOB CREATION AND DISBURSEMENT DATES

BODY
WHEREAS, Mobis Parts America, LLC (�the Business�) has submitted a written request to the County in their correspondence dated August 5, 2011 to amend the incentive disbursement dates of their Targeted Job Incentive Fund (TJIF) award pursuant to Resolution R-106-08 and the Application and Agreement for Targeted Jobs Incentive Fund (TJIF),

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board amends Resolution R-106-08 to extend the job creation and disbursement dates timeline in accordance with the below table. The commitment of this incentive award for the Business exists in an amount not to exceed $692,643 from General Revenue Funds, and is conditioned on and subject to specific annual appropriations by the Board from fiscal years 2013 to 2018. Payment Approved under R-106-08 Proposed Jobs and Dates Payout

The commitment of incentive awards shall be contingent on the Business creating and maintaining the required twelve (12) full-time jobs at an average annual salary of $43,442 during the life of the incentive. The Business also agrees to aspire to have hiring practices that are consistent with and reflect the diversity of the Miami-Dade County community.

The Business shall comply with the requirements set forth in Chapter 2, Artivle LXXXVI of the Miami-Dade County Code, which is incorporated herein by reference. An adjustment in the taxable value of the Business� Capital Investment subsequent to the submission of an application and disbursement of a TJIF award may reduce the Business' allowable incentive below the amount specified in this resolution. When such an event occurs, the Business will reimburse the County any difference between the amount of TJIF Incentive disbursed and the allowable TJIF award based on the adjusted taxable value. 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.

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Date:

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

From: Carlos A. Gimenez
County Mayor

Subject: Resolution Amending the Job Creation and Disbursement Dates
Authorized for Mobis Parts America, LLC under the County�s
Targeted Jobs Incentive Fund Program

STAFF RECOMMENDATION
Recommendation
It is recommended that the Board of County Commissioners (Board) approve the request to amend Resolution R-106-08, which authorized Mobis Parts America LLC (�Mobis� or the �Business�) to participate in the County�s Targeted Jobs Incentive Fund (TJIF) Program, to authorize new job creation and disbursement dates as detailed below:

Payment Approved under R-106-08 Proposed Jobs and Dates Payout Job Creation Deadline Net New Jobs Disbursement Date Job Creation Deadline Net New Jobs Disbursement Date # 1 12/31/2009 2 FY 2011 12/31/2012 12 FY 2013 $115,440.50 # 2 12/31/2010 5 FY 2012 n/a 0 FY 2014 $115,440.50 # 3 12/31/2011 5 FY 2013 n/a 0 FY 2015 $115,440.50 # 4 n/a 0 FY 2014 n/a 0 FY 2016 $115,440.50 # 5 n/a 0 FY 2015 n/a 0 FY 2017 $115,440.50 # 6 n/a 0 FY 2016 n/a 0 FY 2018 $115,440.50 Total 12 12 $692,643.00

The total number of jobs to be created, the total incentive amount, and the terms and conditions of the original TJIF application will not change with approval of this item. The new disbursement dates as set forth in this resolution will not be revised again, and the TJIF award will be cancelled if the job creation conditions are not met.

Scope
The business operations of the project will create 12 new jobs that will primarily impact Commission District 12; however, the overall economic impacts will benefit the entire County through economic multiplier effects.

Fiscal Impact / Funding Source
Based on the conditions set forth in the TJIF Ordinance, and as approved through R-106-08, Mobis is eligible for $692,643 in TJIF assistance to be paid over a six-year period based on the capital investment stated in its application. However, County staff is also projecting approximately $865,804 in additional general fund revenues to the County from the capital investment commitment as stated in the company�s TJIF application. Based on these projections, this incentive would yield a 1.2 return on investment to the County.

The County uses general fund revenue to support the TJIF Program pursuant to the Code of Miami-Dade County, Florida, Chapter 2, Article LXXXVI, as modified by Ordinance No. 11-08.

Track Record/Monitor
The TJIF program specifies that a Board-approved TJIF New-to-Market or Expanding business, as defined in the TJIF Ordinance, such as Mobis, must make at least a $3 million capital investment and create at least ten (10) new jobs within three (3) years of starting operations or completing their capital investment commitment in Miami-Dade County, whichever is later, and maintain those new jobs for an additional three (3) years. Mobis is promising to make a capital investment of $25 million and create 12 new jobs.

Staff from the Sustainability, Planning, and Economic Enhancement Department, upon the company�s request for incentive payment, will verify that it has met the required number of new jobs created, at the required wage rate and in accordance with the TJIF agreement. The disbursement of the TJIF award is capped at the incremental general fund County taxes actually generated and paid by the Business. Staff will also confirm that the ad valorem and/or the tangible personal property taxes are sufficient to cover the TJIF payment.

MANAGER'S BACKGROUND
Background
On February 5, 2008, the Board approved Resolution R-106-08, which authorized the participation of Confidential Project 10-10001 in the County�s TJIF Program. At that time, the Business was considering Panama City, Panama as a potential location for its expansion operation. The Business made a public decision to expand its operations in Miami-Dade County and the confidentially of the project expired.

Due to the economic downturn experienced nationwide by the automobile industry, Mobis submitted a written request, in August 2011, to the County seeking an administrative change to reflect the job creation timeline by December 2012 as proposed in this item. As a condition of the TJIF award, Mobis agrees to hire 12 new full-time employees, at an average annual wage of $43,442, in addition to maintaining the 36 existing employees in Miami-Dade County. In total, the Business is committing to maintain 48 jobs for the duration of the TJIF incentive.

Mobis is a Latin American Headquarters and Auto Parts Distribution company currently located in Medley. The Business is seeking to expand its Latin American Headquarters currently under construction. The expansion will increase its facility capacity from 180,000 to 400,000 square feet.

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Deputy Mayor