R12-078 II
1 RESOLUTION NO. R12 -078
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3 A RESOLUTION OF THE CITY COMMISSION OF
4 BOYNTON BEACH, FLORIDA, AMENDING
5 RESOLUTION 12 -063 BY INCREASING THE CITY'S
6 LOCAL MATCH FOR THE GOVERNOR'S QUALIFIED
7 TARGET INDUSTRY PROGRAM FOR PROJECT CAST
8 BY $9,600 FROM $22,400 TO $32,000; PROVIDING FOR
9 AN EFFECTIVE DATE.
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12 WHEREAS, on July 17, 2012 the City Commission recommended the approval of
13 Project Cast as a Qualified Target Industry Business pursuant to s.288.106, Florida Statutes; and
14 WHEREAS, the City Commission also determined that the necessary cash commitment
15 of local financial support for the Qualified Target Industry Tax Refund Program existed for
16 Project Cast in the amount of $22,400; that the amount would be made available in accordance
17 with the guidelines set forth by the Department of Economic Opportunity with the stipulation
18 that these funds are intended to represent the "local financial support" required by s.288.106,
19 Florida Statutes; and
20 WHEREAS, the Business Development Board of Palm Beach County has been notified
21 by Enterprise Florida that due to the higher average wage, Project Cast has now qualified for an
22 additional $48,000 for the 40 new positions; and
23 WHEREAS, as this is a reimbursement Grant requiring a 20% local match from the City,
24 the City's share increases by $9,600 from $22,400 to $32,000; and
25 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
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26 THE CITY OF BOYNTON BEACH FLORIDA, THAT:
27 i Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
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28 ' being true and correct and are hereby made a specific part of this Resolution upon adoption
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1 hereof.
2 Section 2. The City Commission hereby approves amending Resolution 12 -063 by
3 increasing the City's local match for the Governor's Qualified Target Industry (QTI) Tax Refund
4 Program for Project Cast by $9,600 from $22,400 to $32,000.
5 Section 3. This Resolution shall become effective immediately upon passage.
6 PASSED AND ADOPTED this 21 day of August, 2012.
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9 CITY OF BOYNTON BEACH, FLORIDA
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13 Mayor — Woodrow L. Hay
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17 ice a o ac �ray
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21 Commissio - —
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25 Commissioner , Ste en o -
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29 Commissioner — Marlene Ross
30 ATTEST:
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34 °' /n /401..A.,:k
35 Ja •t M. Prainito, MMC
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