AGENDA MEMORANDUM

 

 

Meeting Date:           August 11, 2008

 

From:                          Kenneth L. Thomas, Director of Housing & Economic Development

 

Subject:                      Resolution authorizing the Job Growth Incentive Program Agreement with L/D Leesburg, LLC  for job creation

 

 

Staff Recommendation:

Staff recommends approval of the job growth incentive program agreement with L/D Leesburg, LLC  for job creation.

 

Analysis:

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.

 

Options:

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

 

Fiscal Impact

$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. 

 

 


 

Submission Date and Time:    8/6/2008 5:22 PM____

 

Department: ____________________

Prepared by:____________________                     

Attachments:     Yes____   No ______

Advertised:   ____Not Required _____                     

Dates:   ________________________              

Attorney Review :       Yes___  No ___

                                                

_____________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. _________JB______                                     

                              

Deputy C.M. _____EFS__________                                                                         

Submitted by:

City Manager __________________

 

Account No. _001-6254-554-4820__

 

Project No. ___________________

 

WF No. _____________________

 

Budget  ______$5,200.00________

 

Available _____$5,200.00_________

 

 

 

 


 

RESOLUTION 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.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk