agenda industrial development authority tuesday, july …
TRANSCRIPT
AGENDA
INDUSTRIAL DEVELOPMENT AUTHORITY
Tuesday, July 12,2011 HARDEE COUNTY ECONOMIC DEVELOPMENT OFFICE
107 EAST MAIN STREET, WAUCHULA, FLORIDA Council: Marcus Shackelford-Chairman
Rick Justice-Vice Chairman
Lory Durrance
Mike Manley
Jim See
Joe Albritton
Vanessa Hernandez
Director William Lambert
County Attorney Ken Evers
Chairman Shackelford -Call to Order.
MINUTES FOR APPROVAL
Tuesday,June14,2011 Copy of minutes provided
APPROVAL OF AGENDA
PLEASE TURN OFF CELL PHONES AND PAGERS
DIRECTOR REPORT- Bill Lambert
Tab1 Nutrapure Update: Closing set for July 14, 2011
Copy of Escrow Agreement attached
Motion recommended to approve Chairman to sign Escrow Agreement
Tab2 Project K update: site work underway, all permits have been approved
Copy of photo showing site work provided
Tab3 EZ Products-Funding discussion
Tab4 Revisit economic terms agreement proposed budget
Copy of budget attached
Tabs Pioneer l\/luseum-discussion on relocating to Wauchula Train Depot
Tabs Peace River Explorations, Inc- funding discussion
Copy of email sent to Pattie Detwiler
Tab7 Presentation of application for funding cycle
Copy of application provided
Motion recommended to accept application
Tabs Broadband/Dispatch
Tab9 Jeff Auslander- USDA Rural Energy for America Program
IDA Agenda
Page 2
July 12, 2011
FINANCIAL REPORT-MIKE MANLEY
Tab10 Financial Report June 2011
Copy of Financial Report provided at meeting.
COUNTY ATTORNEY KEN EVERS
OTHER BUSINESS
COMMENTS FROM COUNCIL MEMBERS
ADJOURN
PLEASE NOTE THAT THE ABOVE APPOINTMENT TIMES MAY BE ADJUSTED AS
DEEMED NECESSARY UNLESS IT IS AN ADVERTISED PUBLIC HEARING.
Industrial Development Authority Regular Meeting Minutes
IDA Agenda
Page 3
July 12, 2011
June 14, 2011
Meeting was called to order by Marcus Shackelford.
The minutes were approved by Rick Justice and seconded by Vanessa Hernandez.
The agenda was approved by Joe Albritton and seconded by Jim See.
Director's Report
Peace River Explorations Inc- An EDA Grant was filed in the amount of2.9 million dollars. It
will not be reviewed before the EDA Board until August. PRE would like to move forward with
getting the Train Depot open and moving forward. PRE is asking for bridge funding to get
through August. The money would cover cost, travel & time accumulated for the last six months
and the next three months. PRE does hope to be self sustaining but just needs help getting
started.
Mosaic Presentation- Parker Keen gave a presentation for Mosaic's new project Streamsong. No
funding was actually discussed. They will come back and a later date for funding requests. A few
board members noted that they do not feel comfortable supporting outside of Hardee County.
Jim See will abstain from any voting regarding Streamsong because of his position with Mosaic
property dealings, not directly related to Strearnsong.
Mosaic Development Agreement discussion- A motion was made by Lory Durrance and seconded
by Jim See for adoption of the total budget with each individual item to go back before the board
for appropriation. Also in the motion there was to be $2.5 million to be put into a funding cycle
and authorization for Bill to advertise a funding cycle.
Project K- The update was actually given by Greg Witt in the EDC meeting. Site work is
underway and all permits have been approved. Building colors have been selected and a building
has been ordered.
Hardee County Commerce Park Tract- Hunter Engineering is still working on the SWFWMD
approval permitting.
Broadband Presentation- Dustin Jurman gave a presentation on Broadband regarding the E911
services, cloud computing, data processing, and FRBA.
New IDA spec building- We need another building to stay competitive in today's market. Bill
would like to see the IDA build another 20,000sq ft building with nothing inside it so it can be
ready in 30-60 days. Rick Justice made a motion to move forward with a spec building plan. Jim
See seconded the motion.
Feasibility Study RFQ- The RFQ has been sent to a few companies and we have received only
one response so far. Bill expects to receive a few more responses and then will refine it so it can
be sent out for bidding.
Financial Report
IDA Agenda
Page 4
July 12, 2011
The financial report was approved by Rick Justice and seconded by Vanessa Hernandez.
1
ESCROW AGREEMENT
THIS ESCROW AGREEMENT ("Agreement") is made this day of July 2011, among
NUTRAPURE, INC. a Delaware corporation, ("Buyer"), HARDEE COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY, a public agency organized under the laws of the State of
Florida ("Seller") and Kenneth B. Evers, Esq. ("Escrow Agent").
PREMISES:
1. Seller and Buyer have entered into an Agreement for Purchase and Sale dated May
26, 2011 for the purchase and sale of certain real property located in Bowling Green, Hardee
County, Florida (the "Agreement");
2. The title search has discovered that the United States Internal Revenue Service has
recorded a tax lien in the amount of $6,527.37 dated August 26, 2010 bearing instrument number
201025005680 and recorded on September 7, 2010 in the Public Records of Hardee County, Florida
(the "Tax Lien");
3. The Tax Lien creates a lien against Seller's property, including the real property
which is the subject of the Agreement;
4. The Seller believes that the Tax Lien was recorded in error, but will be unable to
obtain a release of the Tax Lien prior to the deadline for the Closing under the Agreement; and
5. The parties desire to close the transaction and escrow sufficient funds to pay the Tax
Lien if the Seller is unable to get it released.
NOW, THEREFORE, in consideration of the mutual promises contained herein and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties agree as follows:
2
1. The Escrow Agent shall retain the sum of Ten Thousand and 00/100 Dollars
($10,000.00) (the "Escrowed Funds") from the Purchase Price pending release of the Tax Lien.
2. Seller will use its best efforts to obtain and record a release of the Tax Lien within
ninety (90) days of the Closing (the "Deadline").
3. In the event Seller is unable to timely obtain and record a release of the Tax Lien by
the Deadline, the Escrow Agent shall immediately disburse from the Escrowed Funds such amounts
as may be necessary to obtain and record a release of the Tax Lien. If the Escrowed Funds are
insufficient to obtain and record the release of the Tax Lien, Seller shall be responsible for and shall
immediately remit such additional sums as may be necessary to obtain and record the release of the
Tax Lien. If Seller fails to do so, Buyer may do so and withhold any amount so paid from other
moneys whlch may be owing to Seller, or otherwise recover such amount(s) from Seller.
4. Upon the recording of the release of the Tax Lien, the Escrow Agent will be
authorized to disburse any remaining Escrowed Funds to the Seller.
5. As a condition of Buyer closing, any exception for the Tax Lien shall be deleted
from the Title Commitment and the subsequently issued Title Policy.
6. Seller agrees to hold harmless, indemnify and defend Buyer from any and all
demands, claims, liability, losses, and expenses, including attorney's fees, that Buyer incurs as a
result of the Tax Lien in accordance with the provisions of Section 18 of the Agreement.
7. Escrow Agent, by his signature to this Agreement, acknowledges ills obligation to
be bound by the terms and conditions of this Escrow Agreement.
IN WITNESS WHEREOF, the parties have executed tills document as of the day and date
first above-written.
[Signatures on following page]
3
WITNESSES (SELLER):
PRINTED NAME
PRINTED NAME
WITNESSES (BUYER):
PRINTED NAME
PRINTED NAME
WITNESSES (ESCROW AGT.):
PRINTED NAME
PRINTED NAME
SELLER:
HARDEE COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY
By:
its:
Date: ------------------------
BUYER:
NUTRAPURE, INC. a Delaware corporation
By:
its:
Date: ------------------------
ESCROW AGENT:
Kenneth B. Evers, Esq.
Date:
------------------------
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( Revenue
First National Bank
Wa uchula State Bank
Transfer In
Transfer Out
Interest Income
Total Revenue
2, 250,000.00
2, 250,000.00
0.00
0.00
20,000.00
$4,520,000.00
Expenditure"
Administration $100.000.00
Reserve For Cattle Market $100,000.00
Reserve For Pacer Marine Job Crel3tion Agreement $60,000.00
Reserve For Chamber Marketing Program $ 20,000.00
Reserve For IDA Projects
Spec Building $700,000.00
lleace Rive r Explora tions . $300,000.00
Broadband $500,000.00
Feasibility Study $10,000.00
Total For IDA Projects $1,510,000.00
Reserve For Grant Cycle $2,580,000.00
Total Expenditures $4,370,000 .00
Balance
Un-Appropriated Balance $150,000. 00
1
EDO Info
From: Sent: To:
Cc: Subject: Attachments:
Bill Lambert [[email protected]] Friday, July 01, 2011 3:31 PM Patricia Detwiler; [email protected] Joe Albritton; [email protected]; Kristi Schierling FW: Thursday's meeting 6/30/2011 Bill Lambert.vcf
Subject: Thursday's meeting 6/30/2011
Pursuant to our conversation on Thursday,June 30, 2011consider the following recap.
When we began these discussions related to this theme development and the potential for tourism and secondary
economic and business development,there was no discussion of intended remuneration for costs for future anticipated
salaries or other expenses and certainly no mention of your personal intention of advancing this initiative for "hire". As
you and your Board have advanced these themes and ideas, remuneration of costs and salaries have entered the
equation. The efforts and enthusiasm that all of you have put forth have been fantastic and we must continue to find
ways to move forward but there are protocols and procurement procedures necessary to ensure appropriateness of
funding category and to avoid undue political and legal scrutiny.
Hopefully this email and accompanying bullets will clarify and provide remedy to move our attainment of Tourism
theme/branding including Peace River Explorations forward.
• There are two local income streams available as funding opportunities for "PRE" - the Hardee County Economic
Development Authority and the Industrial Development Authority Economic Terms money.
• As explained the money budgeted by the IDA will be available for various uses related to initial costs such as
fees, studies, analysis, appraisal, and other more specific detailed items as approved by the Industrial
Development Authority.
• You presented a proposed interim budget and I expressed my opinion and concern that the IDA would be
reluctant if not opposed to funding items listed in your budget such as recurring operating expenses (utilities,
salaries, etc). The reason for this is vested in the logic or impracticality of funding capital improvements without
sustainable operating incomes. Conversely you had listed legitimate proposals for funding and as such I have
requested a revision of your budget to reflect the above stated criteria.
• I will agenda your new budget request for the next IDA meeting after joint review and discussion.
• Keep in mind that you have application(s) pending before the Hardee County EDA and the IDA will be opening a
funding cycle for its unbudgeted remainder in the near future. I again suggest to you that there will be
resistance from the IDA funding ongoing operating expenses and that their focus will be on the aforementioned
categories including capital investment for 'bricks and mortar'. We also discussed the appropriateness and
possibility of private sector contribution to help you with start up costs ongoing expenses such as salaries and
utilities.
• We discussed the appropriateness of establishing the initial PRE venue at the City of Wauchula Train Depot with
additional conversation regarding relocating the pioneer museum to the City Depot. The positive benefit is that
in relocating the museum,a sustainable budget for the museum can also be relocated. This can lead to joint
synergies between the museum and the objectives of PRE that could aid in establishing an independent
sustainable pro forma. It is unknown at this time what the negative consequences of relocating the Pioneer
museum to the Depot venue would be. Generally I would expect the negatives to be political rather than
economical.
• Additionally, we discussed the IDA funding capital improvements for the retrofitting of the northern half of the
depot for the museum/art venue in conjunction with the City of Wauchula/CRA with "PRE" Board providing
advice and tutelage.
2
• We also discussed the IDA's continued study ofthe Peace River /fossil/ heritage theme and how we move
forward with the appropriate analysis and peer review complementary and supportive of your Board's zeal and
ambition. Other items mentioned involved the Underwood property, the vacant property on the southeast
corner of US 17 and Main Street and proper locations for community centers/civic centers.
In closing I would like to reemphasize there is a high expectation/inclination for the Hardee County IDA to fund capital
projects that can demonstrate independent sustainable business pro-formas. I believe if you continue to focus on
internal sustainability, the IDA will remain extremely interested in funding the capital improvements necessary for this
vision. I do recognize and understand the difficulty in obtaining those start up costs necessary before attainment of
adequate cash flow and remain willing to discuss avenues to fund contracted services in conjunction with IDA feasibility
analysis.
Please continue to refer to the above bullets for guidance as we move forward.
Bill lambert Hardee County Economic Development
Director
(863) 773-3030 work
(863) 781--1196 mobile
(863) 773-6149 Home
107 East 1\ lain Street
Wauchula, Fl 33873
,www.hardeebusiness.com
www.hardeebusiness.com
**Please note email address changes**
Billlambert: [email protected]
Sarah Pelham: [email protected]
Kristi Schierling: [email protected]
Mosaic Development Agreement Grant Application
Application Process:
Please review the attached guidelines before preparing the application. After reviewing the guidelines and the application, you may wish to call the Hardee County
Economic Development Office listed below to discuss your project and application before
submitting a formal proposal.
Any information and documentation that cannot be supplied in the space provided on the
application form should be attached to the application and referenced to the relevant question.
Any application received after close of business will not be accepted and will be returned to the
applicant.
Only hard copy applications will be accepted- no faxed ore-mailed applications will be accepted
or considered.
The completed and signed original application must be filed with:
Hardee County Economic Development Office
1 07 East Main Street Wauchula, Florida 33873 Voice 863n73-3030 Fax 863/773-4915
For Administrative Use Only:
Date and Time Application Received: _
Date Application Deemed Complete: _
Initial:----
Initial: _
APPLICANT IDENTIFICATION
a) Name of Applicant:
Mailing Address:
Phone Number Fax Number FEID Number:
b) Contact Person:
Title: Mailing Address Phone Number: Fax Number: Email Address:
c) Name of the Proposed Project:
II PROJECT INFORMATION
a) Complete description of the project.
Related documentation attached. See Tab
b) Total estimated cost of the project:
Ill PROJECT EVALUATION QUESTIONAIRE
a) Does the project make our County economy/tax base stronger? If so,
how?
b) Does failure to fund this request create impediments to attainment of a
stronger economy? If so, how?
c) Does the applicant have complementary capital investment by the client?
Please provide a business pro-forma showing justification for your
request.
--Related documentation attached. See Tab
THE HARDEE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY RESERVES
THE RIGHT TO REVIEW ALL DATA SUBMITTED AND TO REQUEST ADDITIONAL
INFORMATION AND TO MAKE INDEPENDENT INQUIRIES TO VERIFY THE
INFORMATION IF NECESSARY AND APPROPRIATE.
Application Completed by: To the best of knowledge the information in this
application is accurate
(signature)
(name and title)
(organization)
(phone number) (date)