Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 25-R32, a Resolution of the City Council of the City of Port St. Lucie Approving an Economic Development Impact Mitigation Agreement for Import Mex of FL, LLC, a Distribution and Logistics Facility, and Authorizing the City Manager or His Designee to Execute an Impact Fee Mitigation Agreement by and Among the City of Port St. Lucie and Import Mex of FL, LLC; Providing an Effective Date.
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Submitted By: Elijah Wooten, Economic Development Administrator
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Carly Fabien, Deputy City Attorney
2. Parties: City of Port St. Lucie and Import Mex of FL, LLC ("Import Mex of Florida")
3. Purpose: To approve an Impact Fee Mitigation Agreement to attract Import Mex of Florida's food service wholesale and distribution facility to Port St. Lucie.
4. New/Renewal/Modified: New agreement
5. Duration: The attached agreement is for a term of ten (10) years after the issuance of a Certificate of Occupancy.
6. Benefits to Port St. Lucie: The attraction of a 160,000 square foot distribution and logistics facility which will also serve as the Import Mex of Florida corporate headquarters. The company will create one hundred twenty-one (121) high wage jobs over a five (5) year period and make a capital investment of $32.7 million in new construction, machinery and equipment for a property located in the Tradition Center for Commerce.
7. Cost to Port St. Lucie (Annual and Potential): The company is entitled to a Mobility and Impact Fee Waiver up to $423,500 in Port St. Lucie Mobility, Parks, Public Buildings, and Law Enforcement Impact Fees for the project. The total mobility and impact fees are $79,153. The impact fees will be paid from the Tradition Economic Development Fund and from the sales proceeds from lands owned by the Governmental Finance Corporation...
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