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HomeMy WebLinkAboutInv# 102824 - STATE OF FLORIDA - FLORIDA COMMERCE - 10/28/2024 (2)RESOLUTION NO.2019-CR.A-020 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY ("CRA') OF THE CITY OF DANIA BEACH, FLORIDA, RECOMMENDING PROJECT MAGIC BE APPROVED AS A QUALIFIED TARGET INDUSTRY BUSINESS PURSUANT TO FLORIDA STATUTES, SECTION 288.106; AFFIRMING THE SITE OF THIS PROJECT IS IN A DESIGNATED BROWNFIELD AREA; PROVIDING FOR LOCAL FINANCIAL SUPPORT IN THE FORM OF CASH IN THE AMOUNT OF ONE HUNDRED THIRTY FIVE THOUSAND DOLLARS ($135,000.00) FOR THE QUALIFIED TARGET INDUSTRY TAX REFUND WITH HIGH -IMPACT SECTOR BONUS AS THE CRA'S LOCAL MATCH FOR FISCAL YEARS 2023 THROUGH 2O30; REQUESTING A WAIVER OF LOCAL FINANCIAL SUPPORT FOR THE BROWNFIELD BONUS PORTION; PROVIDING FOR SEVERABILITY; PROVIDING FOR CONFLICTS; AND FURTHER, PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the corporation referred to as Project Magic, for the purpose of this Resolution, has requested that the Dania Beach Community Redevelopment Agency ("CRA") maintain the confidentiality of its name and business information pursuant to Florida Statutes, Section 288.075; and WHEREAS, Project Magic, the business under consideration, is a transportation and logistics company considering relocating and expanding its operations into the Community Redevelopment Area of the City of Dania Beach, Florida to include its corporate headquarters and operations facility at Dania Pointe, which is a 102-acre mixed -use development site; and WHEREAS, Project Magic has been identified as a Qualified Target Industry Business and, moreover, falls within one of the high -impact sectors designated under Section 288.108, Florida Statutes, and is eligible to apply for the Qualified Target Industry Tax Refund with a High -Impact Sector Bonus, pursuant to Florida Statutes, Section 288.106; and WHEREAS, Project Magic intends to locate in the Dania Beach Community Redevelopment Area at Dania Pointe, which is a 102-acre mixed -use development site between Interstate 95 to the west, Bryan Road to the east and Stirling Road to the south; and WHEREAS, this site is in a Designated Brownfield Area within the City of Dania Beach, specifically known as the Dania Beach Brownfield Area ID BF060801000; and WHEREAS, as a result of this location, Project Magic is eligible to apply for the Qualified Target Industry Tax Refund with a Brownfield Bonus; pursuant to Section 288.107, Florida Statutes; and WHEREAS, Project Magic, as the Applicant, is eligible for the local financial support exemption option of the Brownfield Redevelopment Bonus Refund Program authorized under Section 288.106, Florida Statutes, and desires to exercise that option; and WHEREAS, the Board of Directors of the Dania Beach Community Redevelopment Agency hereby acknowledges that local financial support of ten percent (10%) of the total tax refund is required under the provisions of Florida Statutes, Section 288.106, governing the State's Qualified Target Industry Tax Refund Program and will contribute local financial support in the form of cash for the Qualified Targeted Industry Tax Refund with High -Impact Sector Bonus; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF DANIA BEACH, FLORIDA: Section 1. That the foregoing "Whereas" clauses are ratified and confirmed to be true and correct and they are made a part of and are incorporated into this Resolution by reference. Section 2. That the CRA Board recommends Project Magic to be approved as a Qualified Target Industry Business and a High -Impact Sector Business, both pursuant to Florida Statutes, Section 288.108. Section 3. That the Dania Beach Community Redevelopment Agency requests a waiver of the local financial support required for the Brownfield Bonus, as authorized under the Qualified Target Industry Refund Program, pursuant to Florida Statutes, Section 288.106(2)(1). Section 4. That the CRA Board recommends and approves the necessary commitment of local financial support for Project Magic as a Qualified Target Industry Business under the Qualified Target Industry Tax Refund Program and the High -Impact Sector Tax Refund Bonus Program in the total amount of One Hundred Thirty Five Thousand Dollars ($135,000.00), for fiscal years 2023 through 2030, per the attached Exhibit "A" which is incorporated and made a part of this Resolution by this reference, subject to the condition that Broward County commit for the same period to provide a match of local financial support for a 2 RESOLUTION #2019-CRA-020 0 Qualified Target Industry in the amount of One Hundred Thirty Five Thousand Dollars ($135,000.00). Section 5. The CRA's commitment for local financial support will be made available in accordance with the guidelines set forth by the Florida Department of Economic Opportunity with the stipulation that these funds are intended to represent local financial support pursuant to Section 288.106, Florida Statutes. Section 6. In furtherance of Project Magic's request for approval, the CRA Board has determined that the basis of this proposed project's private sector wage commitment calculation is one hundred fifty percent (150%) of the Broward County average annual wage. Section 7. That all resolutions or parts of resolutions in conflict with this Resolution shall be repealed to the extent of such conflict. Section 8. That this Resolution shall be in full force and take effect immediately upon passage and adoption. PASSED and ADOPTED on September 10, 2019. ATTEST: r THOMAS SCHNEIDER, CMC CRA CLERK APPROVED AS TO —rA-Va - - AND CORRECTNESS: 3 RESOLUTION #2019-CRA-020 A dl 7 O O CD on 6ci 00 F 0 N 4A 6% Oo 0O 00 6 Gal to 00 O O O O N Cl) t» tO 00 00 co� U93 ti> 0 O Q O d° to 04 wt» 00 e3 3q oS N w0) o i�t3_ � 09 tR be C. in 03 N to 0 0 G3 u3 &1�1V$4 O O':O 0 x x x o a d m m Q n O 49 69 l4 Z1 0 e9 0 as N 'tp tt3 d r 43 l v R u N i C m 0 N = 5 •Q CL 0aJ 0 O eh 0 c °m0 0 © m m CL > 4) m a) m 0) su LCL 0 @ a md mx al aI L at ai 5 H ,Now 43 -0 c3mcE Q > ' c LL of �-' C N '% 0 coU- C0 .0 _ t0 d L _ N *y gn o •- 0 0- 0 K ? 0 L3 �- a=a.jmLuW -jat Exhibit 1: Project Magic Resolution Page 1 of 5 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 RESOLUTION NO. 2019- A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF BROWARD COUNTY, FLORIDA, RELATING TO ECONOMIC DEVELOPMENT; RECOMMENDING APPROVAL OF THE APPLICATION OF THE CORPORATION REFERRED TO AS PROJECT MAGIC, PURSUANT TO SECTION 288.075, FLORIDA STATUTES, AS A QUALIFIED TARGET INDUSTRY BUSINESS APPLICANT PURSUANT TO SECTION 288.106, FLORIDA STATUTES, WITH A BROWNFIELD REDVELOPMENT BONUS REFUND PURSUANT TO SECTION 288.107, FLORIDA STATUTES, AND AS A QUALIFIED TARGET INDUSTRY HIGH -IMPACT SECTOR BUSINESS APPLICANT PURSUANT TO SECTION 288.108, FLORIDA STATUTES; REQUESTING A WAIVER OF LOCAL FINANCIAL SUPPORT FOR THE BROWNFIELD REDEVELOPMENT BONUS PORTION OF THE QUALIFIED TARGET INDUSTRY TAX REFUND; PROVIDING FOR A COMMITMENT TO APPROPRIATE THE TOTAL SUM OF ONE HUNDRED THIRTY-FIVE THOUSAND DOLLARS ($135,000) AS BROWARD COUNTY'S LOCAL MATCH FOR THE QUALIFIED TARGET INDUSTRY TAX REFUND AND THE QUALIFIED TARGET INDUSTRY HIGH -IMPACT SECTOR BONUS TAX REFUND PROGRAMS FOR FISCAL YEARS 2022 THROUGH 2O30; RECOMMENDING APPROVAL OF PROJECT MAGIC FOR A BROWARD COUNTY DIRECT CASH/JOB CREATION INCENTIVE GRANT PURSUANT TO SECTION 9Y2-52, BROWARD COUNTY CODE OF ORDINANCES; PROVIDING FOR A COMMITMENT TO APPROPRIATE THE TOTAL SUM OF TWO HUNDRED TWENTY-FIVE THOUSAND DOLLARS ($225,000) FOR A DIRECT CASH/JOB CREATION INCENTIVE GRANT FOR FISCAL YEARS 2022 THROUGH 2O30; AND PROVIDING FOR SEVERABILITY AND AN EFFECTIVE DATE. WHEREAS, the corporation referred to as Project Magic has requested that Broward County maintain the confidentiality of its name and business information pursuant to Section 288.075, Florida Statutes; Exhibit 1: Project Magic Resolution Page 2 of 5 1 WHEREAS, Project Magic, a transportation company currently located in Florida, 2 is considering relocating its operations to the City of Dania Beach, Florida; 3 WHEREAS, Project Magic is requesting certification as a "Qualified Target 4 Industry Business" under the State of Florida Qualified Target Industry Tax Refund 5 Program ("QTI") pursuant to Section 288.106, Florida Statutes, and the Qualified Target 6 Industry High -Impact Sector Bonus Tax Refund Program ("QTI High -impact Sector 7 Bonus Tax Refund") pursuant to Section 288.108, Florida Statutes; 8 WHEREAS, Project Magic is requesting local financial support from the Broward 9 County Board of County Commissioners ('Board") for its QTI/QTI High -Impact Sector 10 Bonus Tax Refund Program application; 11 WHEREAS, Project Magic intends to relocate to a site in a Designated 12 Brownfield Area within the City of Dania Beach, Florida, and is therefore eligible to apply 13 for the QTI with a Brownfield Redevelopment Bonus Refund pursuant to 14 Section 288.107, Florida Statutes; 15 WHEREAS, Broward County is required to provide financial support to any QTI 16 applicant whose project is located within a brownfield area pursuant to Section 288.107, 17 Florida Statutes; 18 WHEREAS, QTI applicants have the option to forego local financial support for 19 the Brownfield Redevelopment Bonus Refund Program pursuant to 20 Section 288.106(2)(k), Florida Statutes ("Local Financial Support Exemption Option"); 21 WHEREAS, QTI applicants that exercise the Local Financial Support Exemption 22 Option receive no more than eighty percent of the total tax refunds allowed under the 23 Brownfield Redevelopment Bonus Refund Program; 24 -2- Exhibit 1: Project Magic Resolution Page 3 of 5 1 WHEREAS, the State of Florida Department of Economic Opportunity has 2 decided to fund the entire amount of the Brownfield Redevelopment Bonus Refund for 3 this project once Project Magic exercises its Local Financial Support Exemption Option 4 and Broward County requests a waiver from the State of Florida of its required local 5 financial support for this Brownfield Redevelopment Bonus Refund pursuant to 6 Section 288.106(2)(k), Florida Statutes; 7 WHEREAS, Project Magic therefore desires to exercise its Local Financial 8 Support Exemption Option and recommends that the Board request a waiver from the 9 State of Florida Department of Economic Opportunity for its required local financial 10 support for the Brownfield Redevelopment Bonus Refund; and 11 WHEREAS, Project Magic is requesting a Direct Cash/Job Creation Incentive 12 Grant from Broward County pursuant to Section 9Y2-52, Broward County Code of 13 Ordinances, NOW, THEREFORE, 14 15 BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF 16 BROWARD COUNTY, FLORIDA: 17 18 Section 1. The Board hereby recommends that Project Magic be approved as 19 a Qualified Target Industry Business pursuant to Section 288.106, Florida Statutes, and 20 as a QTI High -Impact Sector Business pursuant to Section 288.108, Florida Statutes. 21 Section 2. The Board hereby recommends and approves the necessary 22 commitment of local financial support for Project Magic as a Qualified Target Industry 23 Business under the QTI Program and as a Qualified Target Industry Business under the 24 QTI High -Impact Sector Tax Refund Bonus Program, in the total amount of One -3- Exhibit 1: Project Magic Resolution Page 4 of 5 1 Hundred Thirty-five Thousand Dollars ($135,000) for the period of Fiscal Years 2022 2 through 2030, subject to the condition precedent that the City of Dania Beach, Florida, 3 also commit for the same period to appropriate the total required local financial QTI 4 match of One Hundred Thirty-five Thousand Dollars ($135,000) for the project. Broward 5 County's commitment for local financial support will be paid to the Florida Economic 6 Development Trust Fund with the stipulation that these funds are intended to represent 7 the "local financial support" required by Section 288.106, Florida Statutes. 8 Section 3. The Board acknowledges that Project Magic intends to exercise its 9 Local Financial Support Exemption Option pursuant to Section 288.106(2)(k), Florida 10 Statutes, and therefore requests a waiver, by the State of Florida Department of 11 Economic Opportunity, of Broward County's required local financial support for Project 12 Magic's Brownfield Redevelopment Bonus Refund. 13 Section 4. The Board hereby also approves a Direct Cash/Job Creation 14 Incentive Grant in the total amount of Two Hundred Twenty-five Thousand Dollars 15 ($225,000) for the period of Fiscal Years 2022 through 2030, through Broward County's 16 Direct Cash/Job Creation Incentive Program, subject to the condition precedent that the 17 City of Dania Beach, Florida, also commit for the same period to appropriate a direct 18 cash incentive of Two Hundred Twenty-five Thousand Dollars ($225,000) for the 19 project. 20 Section 5. In furtherance of Project Magic's request for approval, the Board 21 has determined that the basis of this proposed project's private sector wage 22 commitment calculation shall be one hundred fifteen percent (115%) of the Broward 23 County average annual wage. 24 Exhibit 1: Project Magic Resolution Page 5 of 5 1 2. 3'' 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Section 6. The amounts authorized herein shall constitute Broward County's total commitment to this project for participation in the QTI, QTI High -Impact Sector Bonus Tax Refund, and Direct Cash/Job Creation Incentive Programs. Section 7. Severability. If any portion of this Resolution is determined by any court to be invalid, the invalid portion will be stricken, and such striking will not affect the validity of the remainder of this Resolution. If any court determines that this Resolution, in whole or in part, cannot be legally applied to any individual, group, entity, property, or circumstance, such determination will not affect the applicability of this Resolution to any other individual, group, entity, property, or circumstance. Section 8. Effective Date. This Resolution is effective upon adoption. ADOPTED this day of Approved as to form and legal sufficiency: Andrew J. Meyers, County Attorney By /s/ Tricia D. Brissett 09/09/19 Tricia D. Brissett (date) Assistant County Attorney By Is/Rene D. Harrod 09/09/19 Rene D. Harrod (date) Deputy County Attorney TDB/hb Project Magic Reso.doc 09/09/19 #464697 , 2019. -5-