City of Clearwater - File #: 17-16

• File #: 17-16
• Version: 1
• Name: Adopt Resolution No. 17-16
• Type: Resolution
• Status: Passed
• File created: 3/23/2017
• In control: Economic Development & Housing
• On agenda: 4/6/2017
• Final action: 4/6/2017
• Title: Endorse the application for Project Sweetooth and commit the City of Clearwater to provide local financial support (Local Match) of ten percent of the eligible tax refund upon certification by State of Florida Department of Economic Opportunity (DEO) and adopt Resolution 17-16.

Date	Ver.	Action By	Action	Result
4/6/2017	1	City Council
4/3/2017	1	Council Work Session

SUBJECT/RECOMMENDATION:

Title

Endorse the application for Project Sweetooth and commit the City of Clearwater to provide local financial support (Local Match) of ten percent of the eligible tax refund upon certification by State of Florida Department of Economic Opportunity (DEO) and adopt Resolution 17-16.

Body

SUMMARY: 

This Resolution amends Resolution 16-12, extending the timeframe by which Project Sweetooth must create 13 new jobs and reducing the Local Match by 5%. The extended timeframe requires changes to the job creation schedule and Local Match payout schedule. All Conditions of Limitation and Termination remain unchanged.

APPROPRIATION CODE AND AMOUNT:

The FY 2016-2017 funding is currently available from Economic Development budget account number 181-99846.  Future year funding will need to be allocated during the City’s annual budget process.

USE OF RESERVE FUNDS:  N/A