|
Summary:
On January 23, 2012, the Orlando City Council approved an Economic Incentive Agreement that provided an Economic Development grant to Publix Super Markets, Inc. (Publix) equal to 10% of tangible personal property taxes paid to the City's general fund, in an amount not to exceed $390,000, to be paid over a five-year period beginning in Fiscal Year 2016-2017.
The terms of the agreement include Publix obtaining a Certificate of Occupancy for construction of a 1,000,000 square foot distribution center by December 31, 2014. Due to unforeseen circumstances, Publix has requested an extension of the deadline to obtain the Certificate of Occupancy.
City staff requests approval to amend the Agreement to allow Publix an extension to obtain a Certificate of Occupancy by March 21, 2015. Both parties have agreed to the aforementioned deadline. |
|
|
Fiscal & Efficiency Data:
No fiscal impact. Funding was previously beginning in Fiscal Year 2016-2017 through Fiscal Year 2021-2022.
|
|
Recommended Action:
Approval of the First Amendment to the Economic Development Incentive Agreement between the City of Orlando and Publix Super Markets, Inc. |
|
|
|
|
|
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
|
| Planning and Environmental Attorney |
12/29/2014 11:09 AM |
| Budget Outside Routing Approval |
12/29/2014 3:03 PM |
| City Clerk |
12/29/2014 3:28 PM |
|
|
|