1
Introduced
by
the
Council
President
at
2
Jacksonville Economic Development Commission:
the
request
3
4
ORDINANCE 2006-706
5
AN
6
AUTHORIZING THE EXECUTION OF SUCH AGREEMENTS
7
BETWEEN THE CITY OF JACKSONVILLE (THE “CITY”),
8
THE
9
COMMISSION (THE “JEDC”) AND [PROJECT PINNACLE]
10
(THE “COMPANY”), TO SUPPORT THE CREATION OF
11
NEW
12
BUILDING
13
COMPANY BE APPROVED BY THE STATE OF FLORIDA'S
14
OFFICE
OF
TOURISM,
15
DEVELOPMENT
(“OTTED”)
16
INDUSTRY (“QTI”) BUSINESS PURSUANT TO SECTION
17
288.106,
18
COMMITMENT
19
FINANCIAL SUPPORT UNDER THE QUALIFIED TARGET
20
INDUSTRY
21
MULTIPLE YEARS PER GUIDELINES SET BY OTTED,
22
WITH A STATE MATCH; AUTHORIZING A RECAPTURE
23
ENHANCED
24
ACCORDANCE WITH CITY COUNCIL RESOLUTION 2006-
25
119-A; AUTHORIZING AN ADDITIONAL LOCAL GRANT
26
IN SUPPORT OF THE CREATION OF THE NEW JOBS;
27
AUTHORIZING
28
MAYOR,
29
DIRECTOR OF THE JEDC; PROVIDING AN EFFECTIVE
30
DATE.
31
ORDINANCE
MAKING
JACKSONVILLE
JOBS
AND
THE
(THE
RENOVATION
“PROJECT”);
OF
A
AND
PROGRAM
GRANT
EXECUTION
CORPORATION
(“REV
OF
EXISTING
TARGET
EVIDENCING
AS
THE
GRANT”)
AND
A
LOCAL
PAYABLE
DOCUMENTS
SECRETARY
THAT
ECONOMIC
QUALIFIED
SUPPORT
REFUND
AN
RECOMMENDING
TRADE
AS
AND
DEVELOPMENT
OF
STATUTES;
CITY
VALUE
FINDINGS
ECONOMIC
FLORIDA
TAX
CERTAIN
BY
OVER
IN
THE
EXECUTIVE
of
the
1
WHEREAS,
the
Company
has
committed
to
create
a
number
of
2
permanent full-time equivalent new jobs in Jacksonville with an
3
average salary, exclusive of benefits, of over 115% of the average
4
private sector wage in the State; and
5
WHEREAS,
the
City
wishes
to
support
maximum
amount
available
tax
refunds
for
the
under
Section
288.106,
6
Company
7
Florida Statutes, relating to qualified target industry businesses
8
(the "QTI Refunds"); and
9
in
the
WHEREAS, the City is required to fund 20% of the amount of QTI
10
Refunds
granted
11
support"; and
12
WHEREAS,
to
a
the
grant
Company
of
QTI
as
the
Refunds
City's
is
a
"local
financial
condition
to
the
13
willingness and ability of the Company to create the new jobs in
14
Jacksonville; and
15
WHEREAS, the project described in the application submitted by
16
Company is in the public interest and serves a paramount public
17
purpose,
18
contemplated therein take into account and give consideration to
19
the long-term public interests and public interest benefits to be
20
achieved by the City; and
and
the
public
actions
and
financial
assistance
21
BE IT ORDAINED by the Council of the City of Jacksonville:
22
Section 1.
23
Findings.
It
is
hereby
ascertained,
determined, found and declared as follows:
24
(a)
The recitals set forth herein are true and correct.
25
(b)
The Project will greatly enhance and expand the City and
26
otherwise promote and further the municipal purposes of the City.
27
(c)
The City's assistance for the Project will enable and
28
facilitate the Project; the Project will enhance and increase the
29
City's tax base and revenues; the Project will improve the quality
30
of life necessary to encourage and attract business expansion in
31
the
City,
and
otherwise
to
serve,
2
promote
and
further
public
1
purposes.
2
3
(d)
Enhancement
of
the
City's
tax
base
and
revenues
are
matters of State and City policy and State and City concern.
4
(e)
The provision of the City's assistance to the Company is
5
necessary and appropriate to make the Project feasible; and the
6
City's
7
account the needs of the Company to make the Project economically
8
and financially feasible, and the extent of the public benefits
9
expected to be derived from the Project, and taking into account
10
assistance
is
reasonable
and
not
excessive,
taking
into
all other forms of assistance available.
11
(f)
The Company is qualified to carry out the Project.
12
(g)
Recommendation for QTI Refunds.
The Council, acting in
13
its capacity as a county, hereby recommends to the State of Florida
14
Office of Tourism, Trade and Economic Development that the Company
15
be approved as a "qualified target industry business" pursuant to
16
Section 288.106, Florida Statutes.
17
(h)
The authorizations provided by this Ordinance are for
18
public uses and purposes for which the City may use its powers as a
19
municipality and as a political subdivision of the State of Florida
20
and
21
interest for the provisions herein enacted is hereby declared as a
22
matter of legislative determination.
23
may
(i)
expend
public
funds,
and
the
necessity
in
the
public
This Ordinance is adopted pursuant to the provisions of
24
Chapter 163, 166 and Chapter 125, Florida Statutes, as amended, the
25
City’s Charter, and other applicable provisions of law.
26
Section 2.
Execution of Documents.
The
Mayor
and
27
Corporation Secretary are authorized to enter into such documents
28
and agreements between the City, the JEDC and the Company (with
29
such “technical” changes as herein authorized), for the purpose of
30
implementing the recommendations of the JEDC regarding the Project.
31
Section 3.
QTI
Local
Financial
3
Support.
By
this
1
ordinance, the City is authorized and directed to provide "local
2
financial
3
Statutes, in the aggregate amount of up to 20% of the amount of QTI
4
Refunds granted to the Company by the State.
5
support shall be made available for the new jobs created by the
6
Company in Jacksonville.
7
support
8
Council.
9
support,"
will
be
Section 4.
as
made
defined
in
Section
288.106,
Florida
Such local financial
The funding for such local financial
available
Grants.
by
future
appropriation
of
the
The City will provide a REV Grant and
10
an additional local grant to the Developer to assist in creation of
11
the new jobs.
12
be paid by Company. The funds appropriated herein shall not lapse
13
at the end of the current fiscal year, but shall carry over into
14
the next fiscal year.
15
Section 5.
All costs in excess of the City’s contribution will
Mayor
designated
as
Official/JEDC
17
official of the City for the purpose of executing and delivering
18
any contracts, notes and documents and furnishing such information,
19
data and documents as may be required and otherwise to act as the
20
authorized official of the City in connection with the Project, and
21
is further authorized to designate one or more other officials of
22
the City to exercise any of the foregoing authorizations and to
23
furnish or cause to be furnished such information and take or cause
24
to be taken such action as may be necessary to enable the City to
25
implement the Project.
26
and monitor the agreements entered into hereunder and to handle the
27
City's
the
authorized
28
responsibilities under any agreements, working with and supported
29
by all relevant City departments.
The JEDC is hereby required to administer
responsibilities
Section 6.
is
Authorized
Contract
31
The
of
16
30
Monitor.
Designation
Further
thereunder,
including
Authorizations.
The
the
Mayor,
City's
or
his
designee, and the Corporation Secretary and the Chairman of JEDC,
4
1
or his designee, are hereby authorized to execute all contracts and
2
documents and otherwise take all necessary action in connection
3
therewith and herewith.
4
Section 7.
Effective Date.
This Ordinance shall become
5
effective upon signature by the Mayor or upon becoming effective
6
without the Mayor’s signature.
7
Form Approved:
8
9
/s/ Juliana Rowland__________
10
Office of General Counsel
11
Legislation prepared by:
12
G:\shared\LEGIS.CC\2006\ord\JEDC Pinnacle.doc
Juliana Rowland
5