CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Community Redevelopment Agency (CRA) 		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
Subject:
First Amendment To The High Wage/High Value Program Funding Agreement between the CRA and SightPlan, Inc.
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.

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 solutions improve the predictability and responsiveness of site operations. The company is currently operating in the UCF Business Incubator and is considering locating their headquarters to Downtown Orlando.

On June 15, 2015, the Community Redevelopment Agency approved a High Wage/High Value Program Funding Agreement between the CRA and SightPlan, Inc. for $98,000.  The company has requested to extend their job creation schedule by one year, and therefore an amendment to the Agreement is necessary to reflect this change.  The funding amount is not impacted.
 
Fiscal & Efficiency Data: Attached.
Recommended Action:
Approval of the First Amendment To The High Wage/High Value Program Funding Agreement between the CRA and SightPlan, Inc., and authorization for the Chairman of the CRA and the Executive Director of the CRA to execute the  Amendment, subject to the 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:
Approved By:

Department Date and Time
Budget Outside Routing Approval 3/16/2016 10:57 AM
Real Estate and Finance Attorney 3/16/2016 1:05 PM
City Clerk 3/16/2016 1:21 PM
ATTACHMENTS:
Name: Description: Type:
First_Amendment_HW-HV_Agreement_SightPlan.pdf First Amendment HW-HV Agreement SightPlan Backup Material
SightPlan_FIS.pdf SightPlan_FIS Backup Material
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