Approved Staff’s recommendation including the revisions to the header of the agreement to include the proper entity that was now the developer for the project which was APW Downtown Phase I, LP, to correct the Clerk’s name, and to include the amount of the first mortgage of $1,250,250.00 which was the Economic Development Loan.
Development Services - Office of Economic GrowthOEG-22-1039District 1
Approved minutes
Approved that the County Attorney’s Office be requested to review the matter and provide a recommendation on what steps to take next to recover the property.
David Engel $95,548. And every year for every dollar of the incentive they'll return thirty seven dollars to the county in uh an economic benefit. So uh the Planning and Economic Growth Department uh recommends approval of this incentive, but prior to taking a vote I'd like to introduce Turner Arbor. He's the economic development, senior economic development manager for the Pasco Economic Development Council. Thank you.
Several speakers David Engel: So um ma'am just looked housekeeping the Office of Economic Uh Growth recommends approval of this economic incentive We do
David Engel Pasco County Economic Development Council has proposed $177,172 worth of incentives, consisting of a job creation incentive. For 25 new jobs, which is $50,000, a Pasco County five-year tangible reimbursement incentive, which totals $107,172, which is a rebate on their tangible taxes paid the previous year. And also the employee training grant for PASCO-based employees for $20,000. The project will generate $4.69 million annually in gross county product. So the return on investment is very substantial. Um So at this juncture, I'd like to uh make a recommendation by staff to approve this economic incentive agreement. And I'd like to extend uh Jenny Samar, some time to just represent the Pasco EDC.