§ 2-1258. TJIF incentives.

The amount of the TJIF award is tentatively ascertained, pending Board approval, during application processing and is based on the commitment of Capital Investment in the TJIF project and the commitment of new job creation as specified in the TJIF application/agreement. The actual TJIF award will be determined after the Company has completed its Capital Investment, hires the number of new jobs as specified in the Board of County Commissioners approved TJIF application/agreement, and all other obligations set forth in the application/agreement and the Resolution approving the TJIF award.

The maximum TJIF award is based on the Project's Capital Investment. For Capital Investment in real property, the incentive over the ten-year period subsequent to the Project's Capital Investment appearing on the tax roll may not exceed 2.140 percent of the value of the Project's Capital Investment made by the Company, unless the TJIF Project is eligible for the following bonuses:

a.

An additional .220 percent of the Project's Capital Investment in taxable real property if the project is a Miami-Dade County "green certified" business, as applicable, before the first disbursement.

b.

An additional .220 percent of the Project's Capital Investment in taxable real property if the Project is located within a Designated Priority Area.

c.

An additional .063 percent of the Project's Capital Investment in taxable real property if the Project is located in a "green certified" building under one of the following certification systems:

(1)

U.S. Green Building Council Silver-level certified building under the New Construction, Core and shell, Healthcare, Retail, Commercial Interior, Retail Interior, Existing Building or equivalent applicable LEED rating, or comparable third party certification;

(2)

Green Globes 3 globes-level certified building under the New Construction or Continual Improvement of Existing Building rating.

d.

An additional .063 percent of the Project's Capital Investment in taxable real property if the Project's principal business activity is in the manufacturing, installation, and repair of Solar Thermal and Photovoltaic energy production or other clean energy products.

For Capital Investment in tangible personal property, the incentive over the ten-year period subsequent to the Project's Capital Investment appearing on the tax roll, may not exceed 1.440 percent of the Project's Capital Investment made by the Company, unless the TJIF Project is eligible for the following bonuses:

a.

An additional .220 percent of the Project's Capital Investment in tangible personal property if the project is a Miami-Dade County "green certified" business, as applicable, before the first disbursement.

b.

An additional .220 percent of the Project's Capital Investment in tangible personal property if the Project is located within a Designated Priority Area.

c.

An additional .063 percent of the Project's Capital Investment in tangible personal property if the Project is located in a "green certified" building under one of the following certification systems:

(1)

U.S. Green Building Council Silver-level certified building under the New Construction, Core and shell, Healthcare, Retail, Commercial Interior, Retail Interior, Existing Building or equivalent applicable LEED rating, or comparable third party certification;

(2)

Green Globes 3 globes-level certified building under the New Construction or Continual Improvement of Existing Building rating.

d.

An additional .063 percent of the Project's Capital Investment in tangible personal property if the Project's principal business activity is in the manufacturing, installation, and repair of Solar Thermal and Photovoltaic energy production or other clean energy products.

An additional 0.150 percent of the total amount of Project's Capital Investment in taxable real property and tangible personal property for every 50 New Jobs created. ("New Jobs Bonus")

A Company may not receive award payments of more than twenty-five (25) percent of the total awards specified in the approved application/agreement in any fiscal year even if all the New Jobs are created in one (1) year. Further, a Company may not receive more than $1.5 million in awards in any single fiscal year, or more than $2.5 million in any single fiscal year if the project is located in a Designated Priority Area. A Company may not receive more than $5 million in award payments in all fiscal years, or more than $7.5 million if the project is located in a Designated Priority Area. Notwithstanding the foregoing, to the extent that the TJIF Project is eligible for the New Jobs Bonus, the twenty-five percent limitation on annual payments shall be waived for the final payment. The Board of County Commissioners, at its discretion, may waive the applicable $5 million or $7.5 million total award cap at the request and recommendation of The Beacon Council and the County Mayor or the County Mayor's designee. However, in no event shall the total award exceed the amount of countywide general fund ad valorem property taxes paid in as a result of the Project. While a Company can receive funds under the State of Florida Qualified Target Industry Program and the County's TJIF Program in the same year, the County's total incentive award under the two (2) programs is capped at the maximum TJIF award as specified in Section 2-1258.

(Ord. No. 00-98, § 9, 7-25-00; Ord. No. 02-251, § 1, 12-3-02; Ord. No. 05-91, § 2, 5-3-05; Ord. No. 11-08, § 1, 2-1-11; Ord. No. 18-36, § 2, 4-10-18)