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County Administrator's Report 13. 13.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	06/22/2017
Issue: Resolution of Support for Project Valor
From:	Amy Lovoy
Department:	Asst County Administrator
CAO Approval:

RECOMMENDATION:

Recommendation Concerning a Resolution of Support for Project Valor - Amy Lovoy, Assistant County Administrator

That the Board adopt and authorize the Chairman to sign a Resolution for Project Valor, supporting their approval as a Qualified Target Industry (QTI) under F.S. 288.106 and agreeing to provide local financial support of $12,000, which equals 20% of the total tax refund as required by the QTI Tax Refund Program of the State of Florida, subject to approval of Project Valor's application to the Program.

[Funding Source: Economic Development Fund 102 - $12,000]

BACKGROUND:

Project Valor is the code name for a multi-state, veteran-owned business and professional technical services company that is considering Escambia County as the location for a new office to serve its western U.S. contracts. The business has committed to creating 20 new full-time jobs in the area with an average wage of $46,005, which is 115% of the County's average annual wage. They will also provide a minimum capital investment of $95,000 via leased space with build-out. Florida West Economic Development Alliance has been working with Project Valor and has submitted a letter of support requesting our participation and assistance.

BUDGETARY IMPACT:

Fund are available in Economic Development Fund 102 in the amount of $12,000 for the LFS (local financial support) commitment.

LEGAL CONSIDERATIONS/SIGN-OFF:

Assistant County Attorney Kristin Hual prepared the Resolution and approved as to form and legal sufficiency.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

N/A

Attachments
Resolution - Project Valor
FloridaWest EDA Recommendation Letter