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RESOLUTION APPROVING CONFIDENTIAL PROJECT HOMETOWN AS A TARGETED JOBS INCENTIVE FUND PROGRAM BUSINESS PURSUANT TO CHAPTER 2, ARTICLE LXXXVI OF THE CODE OF MIAMI-DADE COUNTY, FLORIDA; CONFIRMING THAT THE COMMITMENT OF INCENTIVE AWARDS FOR CONFIDENTIAL PROJECT HOMETOWN EXISTS; PROVIDING AN APPROPRIATION OF UP TO $7,500,000.00 FROM COUNTYWIDE GENERAL FUND REVENUES FOR FISCAL YEARS 2025-26 THROUGH 2034-35; AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR�S DESIGNEE TO MAKE NON-SUBSTANTIVE MODIFICATIONS TO THE JOB CREATION AND DISBURSEMENT DATES TIMELINE, AND TO EXECUTE ALL NECESSARY CONTRACTS, AGREEMENTS AND AMENDMENTS, AND PROVIDING FOR AN EFFECTIVE DATE

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WHEREAS, this Board desires to accomplish the purposes outlined in the accompanying memorandum, a copy of which is attached hereto and incorporated herein by reference; and

WHEREAS, Confidential Project Hometown qualifies as a target industry business under chapter 2, article LXXXVI of the Code of Miami-Dade County, Florida (TJIF Ordinance),

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that this Board:

Section 1. Adopts and ratifies the matters set forth in the foregoing recitals.

Section 2. 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 foundation.

Section 3. Authorizes the County Mayor or County Mayor�s designee to execute the Application and Agreement for TJIF between Miami-Dade County and Confidential Project Hometown as a TJIF business pursuant to the TJIF Ordinance, in substantially the form attached hereto.

Section 4. Authorizes the County Mayor or County Mayor�s designee to make non-substantive modifications to the job creation and disbursement dates timeline, and to execute all necessary contracts, agreements, and amendments necessary to further the purposes set forth in this resolution and to expand to a seven-year job creation schedule instead of the standard three-year schedule.

Section 5. Finds that the commitment of incentive awards for Confidential Project Hometown exists in an amount not to exceed $7,500,000.00 from Countywide General Fund revenues, and is conditioned on and subject to specific annual appropriations by the Board in the following increments:

Fiscal Year 2025-26 - $750,000.00

Fiscal Year 2026-27 - $750,000.00

Fiscal Year 2027-28 - $750,000.00

Fiscal Year 2028-29 - $750,000.00

Fiscal Year 2029-30 - $750,000.00

Fiscal Year 2030-31 - $750,000.00

Fiscal Year 2031-32 - $750,000.00

Fiscal Year 2032-33 - $750,000.00

Fiscal Year 2033-34 - $750,000.00

Fiscal Year 2034-35 - $750,000.00

Total: $7,500,000.00

with the provision that any tax abatement granted to Confidential Project Hometown under section 196.1995, Florida Statutes, reduces any TJIF incentive award granted by the amount of any such tax abatement granted, and will be paid to Confidential Project Hometown with the stipulation Confidential Project Hometown is in compliance with the TJIF program as set forth in the TJIF Ordinance, including, but not limited to, the requirement that at least 10 jobs be created. In no
event shall this resolution operate to obligate the County to make disbursements to Confidential Project Hometown in an amount that contradicts or violates the program requirements as set forth in the TJIF Ordinance.

Section 6. Requires that the commitment of incentive awards shall be contingent on Confidential Project Hometown maintaining the 525 jobs during the life of the incentive and ensuring that its hiring practices are consistent with and reflect the diversity of the Miami-Dade County community. Confidential Project Hometown also agrees to a good faith effort to hire, to the maximum extent possible, residents from Miami-Dade County.

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Date:
To: Honorable Chairman Anthony Rodriguez
and Members, Board of County Commissioners

From: Daniella Levine Cava
Mayor

Subject: Resolution Approving Targeted Jobs Incentive Fund Tax Refund for Confidential Project Hometown

STAFF RECOMMENDATION
Executive Summary
This item seeks the Board of County Commissioners' approval for Confidential Project Hometown (Hometown) to participate in the Targeted Jobs Incentive Fund (TJIF) program, a key initiative designed to foster business growth and job creation in Miami-Dade County (�County�).

Hometown is an existing transportation and logistics company poised to consolidate its various national operations into a global headquarters in a sprawling 550,000-square-foot campus located in unincorporated Miami-Dade County. The commission district is undetermined at this time; however, a location will be identified before construction begins in FY 2025-26. This global headquarters will enhance the company�s transportation and logistics operations and is projected to generate 525 new high-quality jobs with an average annual salary of $135,000.00, while maintaining 1,100 existing jobs. Additionally, Hometown will invest $450 million in capital improvements. The project is expected to produce $17,328,622.00 in incremental property tax revenues for the Countywide General Fund over a ten-year period.

In recognition of this substantial investment, and because the headquarters will be located in a Designated Priority Area (DPA), Hometown is eligible for $7,500,000.00 in TJIF incentives, to be disbursed over ten (10) years contingent upon verification of job creation, capital investment, and tax payments. This initiative is anticipated to deliver a net positive fiscal impact of $9,828,622.00 for the County.

Recommendation
It is recommended that the Board of County Commissioners (Board) approve Hometown�s participation in the TJIF program. Additionally, approval is requested for $7,500,000.00 in TJIF assistance from Countywide General Fund Revenue and an extended seven-year job creation schedule, as opposed to the standard three-year schedule.

Scope
Hometown�s proposed global headquarters will consolidate offices currently located in Miami-Dade County with offices currently located in other parts of the United States, crucial for the County�s robust local and regional transportation industry. The project will create a significant countywide economic impact through direct job creation and an economic multiplier effect, extending benefits beyond unincorporated Miami-Dade County.

Hometown has committed to generating 525 new full-time jobs as defined in section 288.106, Florida Statutes, and will contribute positively to indirect employment and overall economic growth.

Delegation of Authority
This resolution authorizes the County Mayor or the County Mayor�s designee to make non-substantive adjustments to the job creation and disbursement timelines and to execute all necessary contracts, agreements, and amendments between Miami-Dade County and Hometown.

Fiscal Impact/Funding Source
With a capital investment of $450 million, Hometown is projected to generate $17,328,622.00 in incremental property tax revenues for the Countywide General Fund over a ten-year period. Based on these projections, Hometown qualifies for $7,500,000.00 in TJIF assistance, payable over the same period, resulting in a net positive fiscal impact of $9,828,622.00 for the County.

The TJIF award will be disbursed based on verified job creation and capital investment, with the award capped according to Hometown�s real and tangible personal property investments to ensure compliance with TJIF program requirements.

Track Record/Monitor
The TJIF program requires that approved projects create at least ten (10) new jobs, retain them according to program criteria, and make significant capital investments to qualify for the incentive. Hometown has committed to making a $450 million investment and 525 new jobs while retaining 1,100 current employees.

The Department of Regulatory and Economic Resources, specifically its Research and Planning Division, will verify Hometown�s adherence to these requirements, including job creation and wage standards, and ensure that ad valorem and tangible personal property taxes are sufficient to cover the TJIF payment.

Background
The TJIF program provides cash incentives to Miami-Dade companies undertaking expansions that create a minimum of ten (10) new high-paying jobs and involve a capital investment of at least $3 million, as outlined in Chapter 2, Article LXXXVI of the Code of Miami-Dade County.

Hometown�s project involves constructing a state-of-the-art, 550,000-square-foot transportation and logistics campus to house its global headquarters in unincorporated Miami-Dade County (NAICS Code #4831), with Los Angeles, CA, and New York City, New York, considered as alternative locations.

As a condition for receiving the TJIF award, Hometown will ensure that the 525 new employees have an average annual salary of $135,000.00 (excluding benefits) and provide additional benefits valued at $10,000.00. While benefits are not a TJIF requirement, Hometown will adhere to the living wage requirements set forth in Miami-Dade County Code �2-8.9, effective October 1, 2024, to September 30, 2025.

The job creation schedule and incentive disbursement dates are detailed in the resolution but may be adjusted with approval from the County Mayor or County Mayor�s designee, in alignment with TJIF Program guidelines.

The application has been endorsed by the Beacon Council and reviewed by the Office of Innovation and Economic Development and the Department of Regulatory and Economic Resources.

Attachment





Francesca de Quesada Covey
Chief Innovation and Economic Development Officer







Confidential Project Hometown Summary Sheet
APPLICANT:
Confidential Project Hometown

HEADQUARTERS LOCATION: Miami-Dade County

PROPOSED LOCATION IN MIAMI-DADE COUNTY: TBD

OTHER LOCATIONS UNDER CONSIDERATION: California and New York

DATE OF QTI/TJIF APPLICATIONS: December 2, 2024

OVERALL BUSINESS ACTIVITY/MISSION:


World/Global Headquarters

PROPOSED LOCAL BUSINESS ACTIVITY: Transportation and logistics





PROPOSED CAPITAL INVESTMENT: $450,000,000.00

TARGETED QTI/TJIF INDUSTRIES: Global Headquarters/Transportation

PROPOSED LOCATION IN DESIGNATED PRIORITY AREA: Yes

NEW BUSINESS OR EXPANDING BUSINESS: Expanding

TOTAL NUMBER OF DIRECT JOBS TO BE CREATED/RETAINED: 525/1,100

EFFORT IN HIRING RESIDENTS IN LOCAL AREA: Will be sourced locally

ESTIMATED ANNUALIZED AVERAGE WAGES FOR NEW JOBS: $135,000.00

ANNUAL EMPLOYEE BENEFIT PACKAGE: $10,000.00

NUMBER OF INDIRECT JOBS TO BE CREATED: TBA

NUMBER OF YEARS TO CREATE NEW JOBS: 7

MAXIMUM INCENTIVE PER DIRECT JOB CREATED/RETAINED $14,285.71

MAXIMUM INCENTIVE AWARD APPLIED FOR: $7,500,000.00

PROJECTED INCREMENTAL COUNTY TAX REVENUE: $17,328.622.00

TYPE OF FUNDS REQUESTED IN APPLICATION: Countywide General Fund Revenues

COMMENTS: Information and data in this summary sheet provided by The Beacon Council.

Florida Statutes Section 448. PUBLIC AGENCY CONTRACTING
Contractor shall comply with the provisions of Florida Statutes Section 448 related to PUBLIC AGENCY CONTRACTING

E-VERIFY
Contractor shall register with and use the E-Verify system to verify the work authorization status of all new employees of the Contractor and shall require any subcontractor to register with and use the E-Verify system to verify the work authorization status of all subcontractor�s new employees. Contractor, or any subcontractor may not enter into a contract unless each party to the contract registers with and uses the E-Verify system.

In the event Contractor enters into a contract with a subcontractor, the subcontractor must provide the Contractor with an affidavit stating that the subcontractor does not employ, contract with, or subcontract with an unauthorized alien. Contractor shall maintain a copy of such affidavit for the duration of this Agreement.

In the event the County has a good faith belief that Contractor has knowingly violated s. 448.09(1) of the Florida Statutes, The County shall terminate this Agreement.

In the event Contractor has a good faith belief that any subcontractor with which it is contracting has knowingly violated s. 448.09(1) of the Florida Statutes, Contractor shall terminate the contract with the person or entity.

In the event the County has a good faith belief that a subcontractor knowingly violated this subsection, but the Contractor otherwise complied with this subsection, the County shall promptly notify the Contractor and order the Contractor to immediately terminate the contract with the subcontractor and the Contractor shall immediately terminate the contract with the subcontractor.

In the event the County terminates this Agreement under this paragraph, such termination is not a breach of this Agreement and may not be considered as such. If the County terminates this Agreement with Contractor under this paragraph, the Contractor may not be awarded a public contract for at least 1 year after the date on which this Agreement was terminated. Contractor is liable for any additional costs incurred by the County as a result of the termination of this Agreement pursuant to this paragraph.