Resolution 2008-297
RESOLUTION NO. 08 297.
A RESOLUTION OF THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA,
SUPPORTING MILANO SERIES INTERNATIONAL
PRODUCTS, LTD. AS A QUALIFIED APPLICANT IN THE
QUALIFIED TARGET INDUSTRY (QTI) TAX REFUND
PROGRAM PURSUANT TO SECTION 288.106, FLORIDA
STATUTES; PROVIDING FOR FOUR ANNUAL
PAYMENTS FOR A TOTAL APPROPRIATION OF $16,000
AS THE LOCAL PARTICIPATION MATCH FOR FISCAL
YEAR(S) 2012 THROUGH 2017; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the business under consideration is a wholesale distribution center, research
and development and corporate headquarters, specifically, Milano Series International Products,
Ltd. ("Milano Series"); and
WHEREAS, Milano Series currently has its wholesale trade/distribution center and
corporate headquarters located in Mt. Vernon, New York; and
WHEREAS, Milano Series is considering relocating its wholesale distribution center,
research and development and corporate headquarters to Collier County, Florida; and
WHEREAS, it is policy of the State of Florida and Collier County to encourage the
growth of high value-added employment and the economic base by providing tax refunds to
qualified targeted industries that create high-wage job opportunities; and
WHEREAS, the State requires the applicant requesting certification as a qualified
targeted industry business to provide, among other things, a resolution adopted by the Board of
County Commissioners of the county in which the proposed project is to be located,
recommending that the target business be approved as a qualified target industry and confirming
that the necessary commitment of local financial support for the target industry exist; and
WHEREAS, this incentive will provide an inducement for Milano Series to relocate to
Collier County; and
WHEREAS, to qualify for the Qualified Targeted Industry (QTI) Tax Refund Program, a
participant must create 10 new jobs or not less than a 10% increase in employment for an
expansion of an existing business; and
Page I of3
WHEREAS, Milano Series has committed to creating up to 20 new jobs in Collier
County by September, 2011, with a required minimum average wage of $58,157.00, which is
150% of the Collier County's 2006 average wage; and
WHEREAS, to qualify for this program, Enterprise Florida, Inc., will confirm with the
Governor's Office of Tourism Trade and Economic Development (OTTED) about the Qualified
Targeted Industry (QTI) Tax Refund Program that they agree the project is eligible for QTI tax
refunds up to $80,000.00 (including local match).
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF COLLIER COUNTY, FLORIDA, that:
The Board of County Commissioners hereby recommends that Milano Series
International Products, Ltd. be approved as a Qualified Target Industry Business pursuant to
Section.288.106, Florida Statutes, and
BE IT FURTHER RESOLVED that the County has reviewed the public resources for
local financial support and determined that the County can provide the necessary commitment of
local financial support for Milano Series as a Qualified Targeted Industry Business, in the
amount of up to $16,000.00; that this amount will therefore be so encumbered, and shall be made
available for payment from future revenues generated from the projected ad valorem taxes
collected as a result ofthis project. Payment is proposed to be made in the following increments:
FY 2012 -$2,400.00, FY 2013-$3,200.00, FY 2014-$4,000.00, FY 2015-$4,000.00, FY 2016 -
$1,600.00 and FY 2017 - $800.00 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 Section.288.106, Florida Statutes. The necessary commitment of local financial
support shall be contingent on Milano Series maintaining the jobs during the life of the incentive
and ensuring that its hiring practices are consistent with and reflect the diversity of the Collier
County community.
Page 2 of3
This Resolution adopted after motion, second and majority vote favoring same, this
l4~
day of 0 C,;to b-er
A TTES"r' ....j.... . _.
.' . 1" . ,:i! ~ J! ('t' r i'~.';:'('..J'~;' .
......~j vVqf.t.o -~,~".:
'\' ...... (J,';'
;' ~~I9~..~~~~SK, CLERK
.~ !3;' l)Ir ~;\~I:.<~:.r:M, '; i\ .
........ . . .._~ -
? " ""~~J./ "'pl;}/). (}{,~.
. ~:')'." vt].I-f, ~
"".R' . '.~
'!'+At.t'est"ai' to C"'I~:u;y Clerk
Itgnat...... 011,
Jeffre
Count At
2008.
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
~~
By: _j~
TOM HENNING, ChaIrman
Page 3 of3