Staff recommends approval of the job growth incentive program agreement with L/D Leesburg, LLC for job creation.
On July 23, 2007, the City Commission approved the concept of a job growth incentive fund for L/D Leesburg, LLC to attract Waste Management, Inc’s customer service call center to the Talley Business Center. The fund was for $24,000 (three year term); $5,000 the first year and $9,500 per year for the remaining two years for creation of 65 new jobs. WMI now occupies 10,500 square feet of space at the Talley Business Center, and the company plans to expand into an additional 10,000 square feet. Within three years, WMI will occupy over 20,000 square feet and provide over 100 jobs in Leesburg. The average pay rate is $13.00 per hour, with health insurance, 401K, paid sick and vacation time along with miscellaneous benefits.
The annual company purchases, excluding new equipment, were estimated to cost over $250,000 per year. WMI capital investment for new construction was over $600,000, and the overall development cost for Talley Business Center will exceed $4.2 million dollars.
The approval on July 23, 2007 required the execution of a formal agreement for the incentive program. The attached agreement satisfies that requirement.
1. Approve the Job Growth Incentive Program Agreement in the total amount of $24,000; $5,000 for fiscal year 2007-08, and $9,500 for the subsequent two years.
2. Such alternative action as the Commission may deem appropriate
$5,000 has been budgeted for the 2007-08 fiscal year; $9,500 will have to be included in the budget for the next two fiscal years.
Attachments: Yes____ No ______
Advertised: ____Not Required _____
Attorney Review : Yes___ No ___
Reviewed by: Dept. Head ________
Finance Dept. _________JB______
Deputy C.M. _____EFS__________
City Manager __________________
Account No. _001-6254-554-4820__
Project No. ___________________
WF No. _____________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT BETWEEN L/D LEESBURG, LLC AND THE CITY OF LEESBURG FOR JOB CREATION; 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 agreement with L/D Leesburg , LLC for job creation whose address is 933 Lee Road, Suite 400, Orlando, Florida.
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 _11th__ day of __August___ 2008.