Items Types:
Economic Development
For Meeting of:
March 28, 2016
District: 5 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No

SightPlan, Inc. Qualified Target Industry Tax Refund Resolution Amendment


SightPlan, Inc. provides a suite of resident service and asset management tools for the real estate industry, including the fast growing, multifamily apartment sector. The company’s mobile and cloud based solutions improve predictability and responsiveness of site operations, resident service and streamlines communications.  SightPlan is a graduate of the UCF Business Incubator – Orlando.

On June 15, 2015, the Orlando City Council approved a Qualified Target Industry (QTI) Tax Refund Program Resolution for the creation of an additional 28 new jobs.

The company is exercising its option for a one-year push that is built into their Agreement with the State of Florida's Department of Economic Opportunity (DEO). SightPlan will incur a 5% penalty for exercising the one-year push option. As such, the payment schedule set forth in the original Resolution needs to be amended.

This amended resolution will supersede and replace the resolution adopted on June 15, 2015.

The State of Florida will provide a total of $159,600 to SightPlan, Inc. under the QTI program, which includes the City's local financial support. City staff proposes to provide the local 20% QTI match, up to $1,140 per job created, paying an average annual wage of $64,000. Under this arrangement, the City of Orlando would provide $31,920 as an incentive over a six-year period.  This match includes a High Impact Sector Bonus. 

The pledge of funds pursuant to this resolution shall be contingent upon SightPlan, Inc. 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 SightPlan, Inc. 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 3/16/2016 10:37 AM
City Clerk 3/16/2016 12:57 PM

Name: Description: Type:
SightPlan_FIS_(amended).docx Fiscal Impact statement Fiscal Impact Statement
Amended_QTI_Resolution_-_SightPlan__Inc._(1).docx Resolution Resolution Letter

"Enhance the quality of life in the City by delivering public services in a knowledgeable, responsive and financially responsible manner."