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Summary:
On April 17, 2006, the CRA approved the High Wage/High Value Job Creation Program for the purpose of locating targeted industries and targeted headquarters with high-value jobs to Downtown Orlando by leveraging available state and local economic development programs and providing location assistance for the purpose of accomplishing goals such as: diversifying the local economy, growing high-wage, high-value jobs; and growing targeted industries. In 2013 the program was amended to offer four incentives; Job Creation Incentive, Creative Village Pioneer Incentive, Downtown Living Incentive, and Public Transportation Incentive. Total incentives are payable up to $5,000 per job.
Limbach Facility Services, LLC. is an industry-leading provider of sustainable building solutions focused on innovative and cost-effective HVAC management. The Orlando location will serve as the National Headquarters for the Limbach Engineering and Design Services team which is responsible for engineering and design services for the company nationwide.
Limbach Facility Services, LLC. is considering leasing approximately 12,000 sq ft of office space in Downtown Orlando. Limbach Facility Services, LLC. will add 25 new jobs to Downtown over a period consisting of three (3) years with an average annual wage of $74,500 which is at least 150% above the Orange County annual wage. Limbach Facility Services, LLC.’s total capital investment is estimated to be $402,500 in build out and equipment. The CRA would provide $3,500 in program funding for each of the 25 high value/high wage jobs that will be located in Downtown Orlando over a three-year period.
On December 9th, 2015 the CRA Advisory Board recommended approval of the High Wage/High Value Program Funding Agreement between the CRA and Limbach Facility Services, LLC.
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Fiscal & Efficiency Data:
Attached.
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Recommended Action:
Approval of the High Wage/High Value Program Funding Agreement between the CRA and Limbach Facility Services, LLC. and authorization for the Chairman of the CRA and the Executive Director of the CRA to execute the Agreement, subject to the review and approval of the City Attorney's Office, and approval of expenditures from the Downtown Orlando Community Redevelopment Area Trust Fund in the amount of up to $87,500 in High Wage/High Value Job Creation Program funding for Limbach Facility Services, LLC. |
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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:
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Approved By:
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Department
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Date and Time
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| Budget Outside Routing Approval |
12/4/2015 10:13 AM |
| Real Estate and Finance Attorney |
12/6/2015 8:41 PM |
| City Clerk |
12/7/2015 8:23 AM |
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