R12-063 11
1 RESOLUTION NO. R12 -063
2
3 A RESOLUTION OF THE CITY COMMISSION OF
4 BOYNTON BEACH, FLORIDA, RECOMMENDING
5 PROJECT CAST BE APPROVED AS A QUALIFIED
6 TARGET INDUSTRY BUSINESS PURSUANT TO
7 5.288.106, FLORIDA STATUTES; PROVIDING FOR
8 LOCAL FINANCIAL SUPPORT IN THE FORM OF CASH;
9 PROVIDING FOR AN EFFECTIVE DATE.
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12 WHEREAS. the business under consideration is a Specialty Apparel Manufacturing
13 business. specifically, Project Cast, and
14 WHEREAS, Project Cast is a new business which wi ll create 40 full -time jobs: and
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161 WHEREAS, Project Cast intends to locate in Quantum Park: and
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18 WHEREAS, Project Cast has been identified as a Target Industry Business: and
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WHEREAS, Project Cast plans to open business in Boynton Beach: and
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22� WHEREAS, the Cit of Boy neon Beach hereby acknovdedges that local financial
23 support of 20% of the total tax refund of $112.000, is required under the pro\ isions of s288.106.
24 Florida Statutes, governing the State's Qualified Target Industry 1 ax Refund Program: and
25 WHEREAS, the Cite of Boynton Beach has committed to pro ide $22.400. which is
26 20 %. of the required Q f1 local financial support as cash contribution allocated through CDBG
2 funding for Economic Development.
28 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
2d OF THE CITY OF BOYNTON BEACH FLORIDA. THAT:
3d Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
31 being true and correct and are hereby made a specific part of this Resolution upon adoption
hereof.
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1 Section 2. The City Commission hereby recommends Project Cast be approved as a
2 Qualified Target Industry Business pursuant to s.288.106. Florida Statutes.
3 Section 3. The City Commission has determined the basis of this project's average
4 private sector wage commitment calculation shall be 150% of the Palm Beach County average
5 annual vage'.
6� Section 4. The necessary cash commitment of local financial support for the
7 Qualified Target Industry Fax Refund Program exists for Project Cast in the amount of $22.400.
8 that this amount will he made available in accordance w ith the guidelines set forth b}' the
9; i Department of Economic Opportunity w ith the stipulation that these funds are intended to
101 represent the "local financial support" required by s.288.106. Florida Statutes.
11'.1 Section 5. This Resolution shall become efTecti‘e immediately upon passage.
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1 PASSED AND ADOP"1 FD this 17 day of July, 2012.
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4 CH Y OF BOYN ON BEACH. 1~LORIDA
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8 Mayor - Woodrow I. -
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12 . ay or - Mack McCrav
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16 Commiss'e -r
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20 ; Commissioner Stevc o
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241 ••immissioner — Marlene Ross
25 A"ITI -
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27 1.
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3 .lane' M. Prainito, MMC
31 Ci , Clerk
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331
34 < oat St,
35a`
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