Broward County Commission Regular Meeting

MOTION TO ADOPT Resolution No. 2018-481 recommending that Project Swing, a project previously recommended by the Broward County Board of County Commissioners on August 14, 2018 (Item No. 25) for approval as a qualified applicant for participation in the State of Florida Qualified Targeted Industry Tax Refund Program (“QTI” or “QTI Program”) for Fiscal Years 2018 through 2024, be approved as a qualified QTI Program applicant for the revised period of Fiscal Years 2018 through 2026 pursuant to Section 288.106, Florida Statutes, based on the creation of 20 high-wage/high-skill jobs resulting in an estimated capital investment in Broward County of $4,500,000.

ACTION:  (T-10:28 AM)  Approved.

VOTE: 8-0. 

Broward County Board of County Commissioners' approval of economic development incentive requests and participation in economic development incentive programs offered to businesses is required pursuant to Broward County Administrative Code, Section 19.37.1. Board approval is also required to authorize the County Administrator, or designee, to approve any request for changes to previously approved economic development incentives.

This action responds to the State of Florida’s recent request for approval of a change to the job creation schedule (with no change to the total amount of $20,000 in local financial support from Broward County) for Project Swing, a project previously recommended by the Board on August 14, 2018 (Item No. 25) for approval as a QTI applicant.

Project Swing was recommended for approval by the Broward County Board of County Commissioners on August 14, 2018 (Item No. 25) as a qualified applicant for participation in the State of Florida Qualified Targeted Industry Tax Refund Program (“QTI”).

THE OFFICE OF ECONOMIC AND SMALL BUSINESS DEVELOPMENT RECOMMENDS APPROVAL.

This item supports the value of the Board of County Commissioners (“Board”), that is, "Ensuring economic opportunities for Broward’s diverse population and businesses” through the goals to “Attract and retain all types of business, including small businesses and not-for-profits, through provision of effective incentives, technical assistance, and support" and “Increase the economic strength and impact of revenue-generating County enterprises balancing economic, environmental, and community needs.”

Project Swing was previously approved by the Broward County Board of County Commissioners ("Board") as a QTI applicant on August 14, 2018 (Item No. 25). On or about August 27, 2018, before executing the QTI Agreement with the State of Florida, Project Swing requested a 12-month extension to the project’s job creation schedule, which extends Broward County’s payout schedule through Fiscal Year 2025. In addition, QTI Agreements with the State of Florida usually allow 12-month extensions of the job creation period, which could provide Project Swing with an additional 12-month extension and further extend Broward County’s payout schedule through Fiscal Year 2026. In an effort to streamline the approval process, the Office of Economic and Small Business Development recommends that the Board adopt this Resolution in order to effectuate Project Swing’s requested change to the job creation schedule. The changes in the job creation and payout schedules will not impact the total monetary amount of Broward County’s local financial support for Project Swing.

Based on creation of 20 high-wage/high-skill jobs and the projected capital investment, the total proposed incentive amount (pending final approvals) remains as follows:

QTI - State of Florida (80%) $80,000
QTI Local Financial Support (20%) - County $20,000
Total Proposed Incentive Amount $100,000

Steven Tinsley,  Economic Development Manager (954) 357-8075