TITLE
WHEREAS, this Board approved the Targeted Jobs Incentive Funds Application of Mobis Parts America, LLC pursuant to Resolution R-106-08; and

BODY
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board authorizes the transfer of the Targeted Jobs Incentive Fund award from Mobis Parts America, LLC to Mobis Parts Miami, LLC, both wholly owned subsidiaries of Mobis America, Inc.

HEADER
Date:

To: Honorable Chairman Jean Monestime
and Members, Board of County Commissioners

From: Carlos A. Gimenez
Mayor

Subject: Resolution Authorizing the Transfer of the Targeted Jobs Incentive Fund Award

STAFF RECOMMENDATION
Recommendation
It is recommended that the Board of County Commissioners (�Board�) authorize the transfer of the Targeted Jobs Incentive Fund (TJIF) Award from Mobis Parts America, LLC to Mobis Parts Miami, LLC, both wholly owned subsidiaries of Mobis America, Inc.

Scope
The business operations of the project will create 12 new jobs located at 13200 NW 17 Street, Miami, Florida in Commission District 12 (Commissioner Jose �Pepe� Diaz). However, the overall economic impacts will benefit the entire County through economic multiplier effects. The Board approved a TJIF award pursuant to Resolution R-106-08 to Mobis Parts America, LLC and extended the job creation and disbursement timelines pursuant to Resolution R-42-12. The terms and conditions of the TJIF award and the incentive amount, job creation numbers, annualized wages, and all conditions of the award will not change and will comply with the conditions set forth in Resolution R-42-12.

Fiscal Impact / Funding Source
The County uses general revenues to fund this incentive. Based on the conditions set forth in the TJIF Ordinance, and as approved through Resolution R-42-12, Mobis Parts Miami, LLC is eligible for $692,643.00 in TJIF assistance to be paid over a six-year period based on the capital investment stated in its application. The Beacon Council has projected approximately $865,804 in additional general fund revenues to the County from the capital investment by Mobis Parts Miami, LLC. The amount of TJIF assistance is calculated as 80 percent of the projected County revenues. If the projected revenues are realized, this incentive would therefore yield a 1.2 return on investment to the County.

Track Record/Monitor
The TJIF program specifies that a Board-approved TJIF project generally must create at least 10 new jobs, retain those jobs for at least three (3) years, and make at least a $3,000,000.00 capital investment to receive the incentive. Mobis Parts Miami, LLC is promising to make a capital investment of $25,000,000.00 and create 12 new jobs, in addition to maintaining the 36 existing employees in Miami-Dade County.

Staff from the Department of Regulatory and Economic Resources, 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. 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 Mobis Parts America, LLC, at the time known as Confidential Project 10-10001, in the County�s TJIF Program. At that time, Mobis Parts America, LLC was considering Panama City, Panama as a potential location for its expansion operation. Mobis Parts America, LLC made a public decision to expand operations in Miami-Dade County and the confidentially of the project expired.

Due to the economic downturn experienced nationwide by the automobile industry, Mobis Parts America, LLC submitted a written request, in August 2011, to the County seeking an administrative change to the job creation and disbursement timelines. The Board approved their request pursuant to Resolution R-42-12.

Mobis Parts America, LLC is seeking to transfer the TJIF award from Mobis Parts America, LLC to Mobis Parts Miami, LLC which is a separate legal entity and a wholly owned subsidiary of Mobis America, Inc. which also owns Mobis Parts America, LLC.



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Jack Osterholt, Deputy Mayor