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HomeMy WebLinkAboutCity of Tamarac Resolution R-2001-194June 21, 2001- Temp. Reso. #9065 1 Revision No. 1 - July 3, 2001 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2001-194 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO APPROVE ECONOMIC DEVELOPMENT INCENTIVES FOR INTERNATIONAL BULLION AND METAL BROKERS, INC. (IBB) IN THE FORM OF A CASH RELOCATION GRANT FOR $25,000.00; PROVIDING FOR REFUND OF RELOCATION EXPENSES BY INTERNATIONAL BULLION AND METAL BROKERS, INC. (IBB) FOR RELOCATING OUTSIDE THE CITY OF TAMARAC WITHIN A FIVE (5) YEAR PERIOD; AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO OFFER ECONOMIC DEVELOPMENT INCENTIVES IN THE FORM OF WAIVERS OF REVIEW AND PERMIT FEES NOT TO EXCEED $61,000.00, IN ADDITION TO FEE WAIVERS OF $14,000.00 GRANTED UNDER ORDINANCE NO.0-2000-14 AND DESIGNATION AS AN ECONOMIC DEVELOPMENT PROJECT FOR THE PURPOSE OF EXPEDITED PERMITTING FOR INTERNATIONAL BULLION AND METAL BROKERS, INC. (IBB) TO RELOCATE TO WESTPOINTE CENTRE AT TAMARAC COMMERCE PARK; AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO EXECUTE AN AGREEMENT WITH INTERNATIONAL BULLION AND METAL BROKERS, INC. (IBB) OUTLINING THESE INCENTIVES; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, it is proper to utilize public funds for public purposes; and WHEREAS, this expenditure is for the public purpose of improving the economic June 21, 2001- Temp. Reso. #9065 2 Revision No. 1 - July 3, 2001 well being of the City of Tamarac; and WHEREAS, economic welfare is one (1) of the main concerns of a modern city; and WHEREAS, the relocation of International Bullion and Metal Brokers, Inc. (IBB) will encourage the economic revitalization of the City of Tamarac by providing employment for one hundred (100) new employees and twenty (20) relocated employees; and WHEREAS, IBB will stimulate the City's economy by contributing to the utilization of local housing and commercial establishments; and WHEREAS, utilization of local housing and commercial establishments will result in additional property tax revenue to the City; and WHEREAS, the relocation of IBB to the City of Tamarac will stimulate additional economic development in the City which will ultimately result in increased property taxes to the City from the Tamarac Commerce Park; and WHEREAS, the City of Tamarac will realize revenue from real property improvements which would not have been made but for the relocation of IBB to the City of Tamarac; and WHEREAS, the Mayor and City Commission of the City of Tamarac have long recognized the importance of the Tamarac Commerce Park to the economic vitality of the City; and WHEREAS, the City was contacted by the Director of Travel Retail for IBB regarding the potential of relocating IBB's New York operation to the City of Tamarac; and WHEREAS, the Director of Community Development met with the representatives of L June 21, 2001- Temp. Reso. #9065 3 Revision No. 1 - July 3, 2001 IBB to determine if the City could assist in the Company's desire to relocate to the City of Tamarac; and WHEREAS, after meetings and discussions, the Director of Community Development concluded that it would be in the City's interest to assist IBB with relocation to the City of Tamarac; and WHEREAS, it is the recommendation of the City Manager and the Director of Community Development that the City Commission authorize a grant of $25,000.00 to be paid upon the issuance of the Certificate of Occupancy and submission of receipts for moving expenses to IBB to assist them in defraying moving and other relocation expenses; and WHEREAS, it is further recommended that certain review and permit fees be waived in an amount not to exceed $61,000.00 in addition to the standard fee waivers (totaling $14,000.00) granted under Ordinance No. 0-2000-14 for all properties developed in the Westpointe Centre; and WHEREAS, available funds exist in the General Fund for said purpose; and WHEREAS, IBB agrees to refund the relocation expenses paid by the City to IBB if the company should relocate from the City of Tamarac according to the schedule as follows: First Year- 80%, Second Year - 60%, Third Year- 40%, Fourth Year-- 20%, and Fifth Year -- 0%; and WHEREAS, IBB agrees to reimburse the City of Tamarac for the fee waivers should the building be sold to another entity according to the schedule as follows: First Year - June 21, 2001- Temp. Reso. #9065 4 Revision No. 1 - July 3, 2001 80%, Second Year - 60%, Third Year - 40%, Fourth Year - 20%, and Fifth Year - 0%; and WHEREAS, the recommendation is based upon several facts/assumptions including: (1) that the annual payroll will be $1.4 Million, thereby benefiting and stimulating businesses and service providers in the City; and (2) that this project will stimulate additional economic development in the Tamarac Commerce Park, as well as enhance the image of the City; and WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be in the best interests of the citizens and residents of the City of Tamarac to approve Economic Development Incentives for International Bullion and Metal Brokers, Inc. (IBB) in the form of a cash relocation grant for $25,000.00; providing for refund of relocation expenses by International Bullion and Metal Brokers, Inc. (IBB) for relocating outside the City of Tamarac within a five (5) year period; authorize the appropriate City Officials to offer Economic Development Incentives in the form of waivers of review and permit fees not to exceed $61,000.00, in addition to fee waivers of $14,000.00 granted under Ordinance No. 0-2000-14 and designation as an Economic Development Project for the purpose of expedited permitting for International Buillion and Metal Brokers, Inc. (IBB) to relocate to Westpointe Centre at the Tamarac Commerce Park; authorize the appropriate City Officials to execute an Agreement with International Bullion and Metal Brokers, Inc. (IBB) outlining these incentives. 1 June 21, 2001- Temp. Reso. #9065 5 Revision No. 1 — July 3, 2001 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this Resolution. SECTION 2: That upon issuance of a City Certificate of Occupancy on the building for IBB and submission of receipts for moving expenses, the City Manager is authorized to forward a check for $25,000.00 to IBB to defray moving expenses and other costs of moving to the City of Tamarac which is to be funded from the Economic Development account of the General Fund. SECTION 3: That IBB will refund the relocation expenses paid by the City to IBB and the fee waivers granted by the City to IBB if the company should relocate from the City of Tamarac, and reimburse the fee waivers should the building be sold to another entity, according to the following schedule: First Year - 80%, Second Year - 60%, Third Year - 40%, Fourth year - 20%, and Fifth Year - 0%. SECTION 4: That the City Manager is authorized to waive various review and permit fees in an amount not to exceed $61,000.00 in addition to the fee waivers of $14,000.00 granted by Ordinance No. 0-2000-14 to all properties developed in the Westpointe Centre, as well as designate the International Bullion and Metal Brokers, Inc. project as an Economic Development Project. SECTION 5: That the City Manager is authorized to sign an Agreement with IBB which designates this as an Economic Development Project and delineates the June 21, 2001- Temp. Reso. #9065 6 Revision No. 1 — July 3, 2001 relevant substantive parts of this Resolution (attached hereto as Exhibit "A") SECTION 6: All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. SECTION 7: If any clause, section, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or application, it shall not affect the validity of the remaining portions or applications of this Resolution. SECTION 8: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this 111h day of July, 2001. - ATTEST: MARION SWENSON, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. CITY ATTORNEY '�' , , " 6, -, /'�' �/ JOE SCHREIBER MAYOR RECORD OF COMMISSION VOTE: MAYOR SCHREIBER !L/ DIST 1: COMM. PORTNER DIST 2: COMM. MISHKIN A e, DIST 3: V/M SULTANOF A e. DIST 4: COMM. ROBERTS-Aye/ 1 1 1 iJF TAnj:::::. EXHIBIT "A" TEMP RESO #9065 City of Tamarac 7525 N.W. 88th Avenue, Tamarac, Florida 33321-2401 Telephone: (954) 724-1230 - Facsimile (954) 724-2454 Jeffrey L. Miller City Manager July 12, 2001 jeffm@tamarac.org Mr. Steven Kovacs President International Bullion and Metal Brokers, Inc. 49 West 24th Street Fifth Floor New York, New York 10010 Dear Mr, Kovacs: I am pleased to inform you that the Mayor and City Commission approved Resolution No. R-2001- at the regular City Commission meeting held on July 11, 2001. This Resolution approved economic incentives to partially defray the expenses of International Bullion and Metal Brokers, Inc. (IBB) to relocate to the City of Tamarac. This letter is to serve as the agreement which was authorized by Resolution No. R-2001- that contains the conditions by which the relocation expenses would be paid by the City of Tamarac to IBB and provides the delineation of review fees which will be waived by the City of Tamarac for IBB. have attached a copy of this Resolution for your records. The Resolution authorized the City Manager to enter into an Agreement between IBB and the City for the reimbursement of relocation expenses in an amount not to exceed $25,000.00. The amount of the reimbursement will be based on receipts presented by the Company to the City documenting moving and other relocation expenses. Upon issuance of the Certificate of Occupancy, the Company may submit documentation for the reimbursement of expenses. The Resolution also authorized the City Manager to enter into an Agreement between the City and IBB for the waiver of permit fees in the amount of $75,00.00. The fees to be waived are as follows: Community Development Site Plan Processing ................................... $2,250.00 Traffic Impact. .............................................. $8,240.00 Streetscape Improvement ........................... $3,636.00 Equal Opportunity Employer Mr. Steven Kovacs International Bullion and Metal Brokers, Inc. July 12, 2001 Page 2 Engineering Department Paving & Drainage (Partial Waiver).......... $24,000.00 Water & Wastewater (Partial Waiver)........ $14,000.00 Building Department Permit Fee (Partial Waiver) ....................... $22,874.00 TOTAL $75,000.00 IBB will be required to refund the relocation expenses paid by the City to IBB, if the company should relocate from the City of Tamarac according to the schedule as follows; First Year — 100%, Second Year — 80%, Third Year — 60%, Fourth Year — 40%, and Fifth Year — 20%. IBB will also be required to refund the fees waived by the City for the construction of the IBB building should the building be sold to another entity according to the following schedule; First Year -- 100%, Second Year — 80%, Third Year — 60%, Fourth Year — 40%, and Fifth Year — 20%. Should you have any questions regarding this matter, please contact J. Christopher King, Director of Community Development at (954) 724-1292. The City of Tamarac looks forward to working closely with IBB in its relocation to the City of Tamarac. Sincerely, Jeffrey L. Miller City Manager c: Patricia A. Jeziorek Enclosure Mr. Steven Kovacs International Bullion and Metal Brokers, Inc. July 12, 2001 Page 3 The parties listed below have agreed to the assistance in defraying moving and other relocation expenses and the fee waivers as presented in this letter. Mr. Steven Kovacs International Bullion and Metal Brokers, Inc. r. J. Christ pher King Mr. effrey L. Miller Director of Community Development City Manager iNreHN,anowL suiwoni AND METAL BROKERS, INC CASE N0.17•MI-00 City of Sunrise CITY COMMISS1ON I e City of Tamarac July 11, 2000 — — - Economic Development J �"DI �n9 Director Incentive Community Development 7525 N.W. 88th Ave- Tamarac, Florida 33321-2401 Telephone: (954) 724-1292 Facsimile: 724-2453 �] 10 Jeffrey L. Miller City Manager Jeffm@tamarac.org EXHIBIT "A" � City of.Tamarac 7525 N.W. 88th Avenue, Tamarac, Florida 33321-2401 . Telephone: (954) 724-1230 • Facsimile (954) 724-2454 July 12, 2001 Mr. Steven Kovacs President International Bullion and Metal Brokers, Inc_. 49 West 24hStreet Fifth Floor New York, New York 10010 Dear Mr. Kovacs: TEMP RESO #9065 am pleased to inform you that the Mayor and City Commission approved. Resolution No. R-2001-194 at the regular City Commission meeting held on July 11, 2001. This Resolution approved economic incentives to partially defray the expenses of International Bullion and Metal Brokers, Inc: (IBB) to relocate to the City of Tamarac. This letter is to serve ` as the ,agreement which was authorized by Resolution No. R-2001-194 that contains the conditions by which the relocation .expenses would be paid by the City of Tamarac to IBB and -provides the delineation of review fees which will be waived by the City of Tamarac for IBB. I have attached a copy of this Resolution for your records. The Resolution authorized the City Manager to enter into an Agreement between IBB and the City for the reimbursement of relocation expenses in an amount not to exceed $25,000.00. The amount of the reimbursement will be based on receipts 'presented by the Company to the City documenting moving and other relocation expenses. Upon. issuance of the Certificate of Occupancy, the Company may submit documentation for the reimbursement of expenses. The Resolution- also . authorized the City, Manager to -enter into an Agreement between the City and IBB for the waiver of permit fees in the amount of $75,00,00. The fees to be waived .are as follows: Community Develop__ment. Site Plan Processing ...:........................... $2.9250.00 - Traffic impact ..................... ............:.:.:....:. .*' $8,240.00 Streetscape Improvement.., .....I. .................: $3,636.00 Equal Opportunity Employer Mr. Steven Kovacs, International Bullion and.Metal Brokers, Inc. July 12, 2001, Page 2 Engineering Department Paving .g & Drainage (Partial Waiver) .......... $24,000.00 Water & Wastewater (Partial Waiver)........ $14,000.00 Building Department Permit Fee (Partial Waiver)........ ............ $22,874.00 TOTAL $75,000.00 IBB will be, required to refund.the relocation expenses paid by the City to IBB, if.the company should relocate from the City of Tamarac according to the schedule as follows; First Year — 1 00%,'Second Year-= 80%, Third Year=.60%;. Fourth Year - 40%, and Fifth Year — 20%. IBB will also be required ' to refund , the fees waived by the City for the - construction of the IBB building should the building be sold to another entity according to. the following schedule; First Year.— 100%, Second Year.— 80%, Third Year 60%, Fourth Year - 40%, and Fifth Year — 20%. Should you have any questions regarding this matter, please contact -J. Christopher King,. Director of Community Development at (954) 724-1292. The,. City of Tamarac looks forward to working closely with IBB in its relocation to the City of Tamarac: Sincerely, International Bullion and `Metal Brokers, Inc. July 12, 2001 : Page 3 The parties listed :below, have agreed to the assistance in defraying moving and other relocation expenses and the fee waivers as presented in this letter.