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Summary:
The Florida Enterprise Zone Program was enacted in 1995 to provide the
necessary means to assist local communities~ their residents~ and the private
sector in creating the proper economic and social environment to induce the
investment of private resources in productive business enterprises located in
severely distressed areas and to provide jobs for residents of such areas.
The Florida Enterprise Zone Program will sunset on December 31~ 2005. After
careful consideration of the programÆs guidelines and requirements~ and based
on the success of the program~ the Florida Legislature approved House Bill 1725
(Chapter 2005-287~ Laws of Florida) which provides existing Enterprise Zones an
opportunity to submit an application package for the re-designation of an area
as an Enterprise Zone.
The criteria for the program has been modified within House Bill 1725. Based
on the new criteria~ in order for an existing Enterprise Zone to qualify for
re-designation~ the nominated area must satisfy the following conditions:
Poverty rate cannot be less than 20% within a block group;
In at least 50% of the block groups within the nominated area~ the poverty rate
shall not be less than 30%; and
The average unemployment rate must not be less than the stateÆs average
unemployment rate (5.6% in 2000). A specific block group may have an
unemployment rate that is less than 5.6% but still be eligible if the average
unemployment rate of the nominated area is more than the stateÆs 5.6%
unemployment rate.
To comply with the legislation~ local officials |
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Fiscal & Efficiency Data:
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Recommended Action:
(Approval of the Resolution and Interlocal Agreement for the Re-designation of
the Orlando/Orange County Enterprise Zone) |
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Agenda Item attachment(s) on file in the City Clerks Office.
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Note:
All agenda items must
be in the City Clerk's office by Noon Friday, six(6) business days prior to the
regular Monday City Council meeting.
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Contact:
Desnee E Young/BUS/EDV/Orlando
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Approved By:
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Department
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Date and Time
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