CITY OF ORLANDO
COUNCIL AGENDA ITEM


Items Types:
Economic Development
For Meeting of:
February 8, 2016
District: 4 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

Subject:
Limbach Facility Services, LLC Qualified Target Industry Tax Refund Resolution Amendment

Summary:

Limbach Facility Services, LLC is an industry-leading provider of sustainable building solutions focused on innovative and cost-effective HVAC management.  The company had grown into one of the nation’s premier mechanical contractors, with over 1,200 employees throughout the U.S.

On January 11, 2016, the Orlando City Council approved a Qualified Target Industry (QTI) Tax Refund Program Resolution for the creation of an additional 31 new jobs.

The previously approved resolution contained a pay-out schedule for local financial support that included a High-Impact Sector Bonus, in addition to the base QTI award and an average wage level of $74,500, which is 150% of the Orange County average annual wage.  It has been determined that while the project falls within the targeted industry of corporate headquarters, the related jobs are not classified as “high-impact sector” positions.  Additionally, the average wage of the proposed jobs has been adjusted to $46,936, which is 115% of the Orlando MSA average annual wage.  This results in a lower per job award and decreases the City’s local financial support from $37,500 to $18,600.

This amended resolution will supersede and replace the resolution adopted on January 11, 2016.

The State of Florida will provide a total of $93,000 to Limbach Facility Services, LLCunder the QTI program, which includes the City's local financial support. City staff proposes to provide the local 20% QTI match, up to $600 per job created, paying an average annual wage of $46,936. Under this arrangement, the City of Orlando would provide $18,600 as an incentive over a seven-year period. 

The pledge of funds pursuant to this resolution shall be contingent upon Limbach Facility Services, LLC being qualified by the State of Florida as a QTI Program participant, meeting its job and wage obligations under the program and future budget appropriations by the Orlando City Council.

Fiscal & Efficiency Data: Fiscal impact statement attached.

Recommended Action:
Adoption of the Limbach Facility Services, LLC Qualified Target Industry Tax Refund Resolution amending a Resolution and authorizing the Mayor or Mayor Pro Tem and City Clerk to execute same, subject to review and approval of the City Attorney's Office.


Agenda Item attachment(s) on file in the City Clerks Office.

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.

Contact: Kim King
Approved By:

Department Date and Time
Budget Outside Routing Approval 1/28/2016 10:08 AM
City Clerk 1/29/2016 2:25 PM

ATTACHMENTS:
Name: Description: Type:
EDV_-_Limbach_Facility_Services_FIS_(amended.2).docx Fiscal Impact Statement Backup Material
EDV_-_Amended_QTI_Resolution_-_Limbach_Facility_Services_LLC_-_final.docx Resolution Backup Material

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