Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 21-R08, A resolution to approve amending the impact fee mitigation agreement between City Electric Supply and the City of Port St Lucie.
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Submitted By: Elijah Wooten, Business Navigator, City Manager's Office
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Elijah Wooten, Business Navigator, City Manager's Office
2. Parties: City of Port St. Lucie and City Electric Supply
3. Purpose: City Electric Supply requested amending the reporting of the baseline jobs and new jobs schedule in the impact fee mitigation agreement, due to workforce reductions caused by COVID-19.
4. New/Renewal/Modified: Modification to the impact fee mitigation agreement between City Electric Supply and the City of Port St Lucie.
5. Duration: The impact fee mitigation agreement is for a period of ten years from the date of issuance of the certificate of occupancy for City Electric Supply's TAMCO manufacturing facility. The certificate of occupancy was issued by the Building Department in December 2019 and the duration of the impact fee mitigation agreement is from 2019 to 2029.
6. Benefits to Port St. Lucie: The expansion and retention of City Electric Supply, the creation of 50 new jobs and the $38 million capital investment in real property and personal tangible property in the Tradition Center for Commerce located in the City's jobs corridor.
7. Cost to Port St. Lucie (Annual and Potential): The City paid $146,182.44 for City Electric Supply's impact fee mitigation in 2018. Amending the impact fee mitigation agreement does not include any additional cost to the City.
Presentation Information: Elijah Wooten, Business Navigator, will make a brief 10 minute presentation.
Staff Recommendation: Move that the Council approve amending the impact fee mitigation agreement with City Electric Supply.
Alternate Re...
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