Item No: 4.C.8.

Meeting Date: February 27, 2012

From: Ken Thomas, Director of Housing & Economic Development

Subject: Resolution Approving an Interlocal Agreement among Lake County Government and the Cities of Eustis, Leesburg and Mascotte Regarding

The Lake County Enterprise Zone (EZ) and The Lake County Enterprise Zone Development Agency

Staff Recommendation:

Staff recommends approval of the interlocal agreement among Lake County, Eustis, Leesburg and Mascotte to establish the Enterprise Zone and exercise powers pursuant to the Florida Enterprise Zone Act, Sections 290.001-290.016, Florida Statutes.

Analysis:

On November 28, 2011, the Leesburg City Commission approved a resolution supporting Lake County’s nomination of areas within the City of Eustis, Mascotte, Leesburg and unincorporated Lake County as a Florida Enterprise Zone. Subsequently, the Florida Department of Economic Opportunity approved the County’s application for creation of the Enterprise Zone.

Therefore, all parties (Leesburg, Eustis, Mascotte, and Lake County) are required to enter into this Interlocal Agreement to establish the terms and conditions to carry out the Enterprise Zone activities. Below is a list of powers and responsibilities given to the Enterprise Zone:

• To assist in the development and implementation of the EZ Strategic Plan;
• Provide quarterly reporting to the Lake County and City Commissioners;
• Identify resources for eligible businesses in the EZ;
• Assist in promoting EZ incentives to residents and business owners;
• Recommend boundary changes when necessary;
• Work with organizations affiliated with Florida Agriculture and Mechanical University (FAMU), University of Florida (UofF) and the University of South Florida (USF), (together known as the University Partnership for Community Development) that have combined their resources to provide development consulting on a nonprofit basis; and
• Coordinate with Enterprise Florida and the State office of Economic Opportunity.

Enterprise Zone Economic Incentives

Businesses located in the Enterprise Zone may be eligible for the following economic incentives:

• Enterprise Zone Jobs Tax Credit
• Community Contribution Tax Credit Program;
• Sales Tax Refund for Business Machinery and Equipment Used in an Enterprise Zone;
• Sales Tax Refund for Building Materials Used in an Enterprise Zone;
• Ad Valorem Property Tax Exemption.

Brownfield Sites Located in the Enterprise Zone:

Properties located in the Carver Heights CRA, and designated brownfield sites, are eligible for additional incentives such as:

• Job Bonus Refund;
• Building Materials Sales Tax Credit;
• Voluntary Cleanup Tax Credit; and
• State Loan Guarantees.

Businesses may also be able to apply for grants to cover site assessment and clean up costs.

Options:

1. Approve the Interlocal Agreement between Lake County, Leesburg, Eustis and Mascotte; or

2. Such alternative action as the Commission may deem appropriate

Fiscal Impact:

No immediate fiscal impact

Submission Date and Time: 2/24/2012 10:39 AM____

Department: ______________________ Prepared by: ______________________ Attachments: Yes____ No ______ Advertised: ____Not Required ______ Dates: __________________________ Attorney Review : Yes___ No ____ _________________________________ Revised 6/10/04

Reviewed by: Dept. Head ________ Finance Dept. __________________ Deputy C.M. ___________________ Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget ______________________ Available _____________________

RESOLUTION NO.___________

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN INTERLOCAL AGREEMENT AMONG THE CITY OF LEESBURG, WHO HAS DESIGNATED THE AREA AS CARVER HEIGHTS ENTERPRISE ZONE, CITY OF EUSTIS, THE CITY OF MASCOTTE, AND LAKE COUNTY GOVERNMENT; AND PROVIDING AN EFFECTIVE DATE.

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

THAT the Mayor and City Clerk are hereby authorized to execute an interlocal agreement with Lake County Government whose address is 315 West Main Street, Post Office Box 7800 Tavares, Florida, 32778 for the purpose of implementing the Lake County Enterprise Zone.

THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _27^th _ day of _February__ 2012.

__________________________

Mayor

ATTEST:

_____________________________________

City Clerk