Resolution 2002-023
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RESOLUTION NO. 04..=-.23
A RESOLUTION BY THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA; SUPPORTING F.N.B. CORP. AS A
QUALIFIED APPLICANT PURSUANT TO 5.288.106, FLORIDA
STATUTES; AND PROVIDING AN APPROPRIATION OF $45,000 AS
LOCAL PARTICIPATION IN THE QUALIFIED TARGET INDUSTRY
TAX REFUND PROGRAM FOR FISCAL YEAR(S) 2003 THROUGH 2007,
AND PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the business under consideration is corporate headquarters for a financial
entity, specifically, F.N.B. Corp.; and
WHEREAS, F.N.B. Corp. is located in Collier County, Florida; and
WHEREAS, F.N.B. Corp. has its corporate headquarters in Collier County, Florida; and
F.N.B. Corp. is an industry targeted by the State of Florida and Collier County for new high-wage
job creation; and F.N.B. Corp. has recently acquired a financial entity in another state and is
considering locating a centralized technology center to support its customer service center and
corporate headquarters; and
WHEREAS, F.N.B. Corp. presently employs 200 employees statewide; and
WHEREAS, F.N.B. Corp. will create up to 75 additional full-time equivalent new jobs in
Collier County (50 in Phase I, 25 in Phase II); and the average wage for the additional jobs will
total 115% of the area's average wage; and
WHEREAS, Collier County will support the State of Florida Qualified Target Industry
Tax Refund Program with a 20% local match of tax refund dollars.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA that the Board of County
Commissioners hereby recommends F.N.B. Corp. be approved as a Qualified Target Industry
Business pursuant to s.288.106, Florida Statutes, and
BE IT FURTHER RESOLVED that the necessary commitment of local financial
support for the Qualified Target Industry Business for the Qualified Target Industry Tax Refund
Program exists in the amount of up to $45,000; that this amount will be encumbered and be
available for payment from future revenues generated from the projected ad valorem taxes
collected as a result of this project; and that payment will be dependent upon F.N.B. Corp.
constructing a new facility. Payment is proposed to be made in the following increments: FY
2003 - $7,500, FY 2004 - $11,250, FY 2005 - $11,250, FY 2006 - $11,250, FY 2007 - $3,750.
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Monies are to be paid to the Florida Economic Development Trust Fund with the stipulation that
these funds are intended to represent the "local participation" required by s.288.106, Florida
Statutes.
This Resolution adopted after motion, second and majority vote favoring same.
DATED: / - d.d - () d-
ATTEST:
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COLLIER COUNTY BOARD OF
COUNTY COMMISSIONERS
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James N. Coletta, Chairman
By:
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Date: / - d-. CiL - 0 d-
APPROVED AS TO FORM AND
LEGAL SUFFICIENCY:
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Patrick G. White
Assistant County Attorney