Resolution 24-R56 expressing support for Project Hammy as a Qualified Economic Development Ad Valorem Tax Exemption applicant.

Project Hammy is seeking consideration as a qualified applicant for an Economic Development Ad Valorem Tax Exemption. As an existing business with a corporate headquarters located in the City of Fort Pierce, Project Hammy seeks to expand its operations by constructing a new expanded 25,000 square foot headquarters and distribution facility. The capital investment for this project is projected at $2.2 million with $150,000 in tangible property capital investment. With this expansion, Project Hammy anticipates retaining 13 full-time equivalent jobs and creating 30 new full-time equivalent jobs, thereby contributing to the economic growth and development of our community.

Based on current representations made by Project Hammy, the City has made a preliminary determination that Project Hammy meets the requirements for an Economic Development Ad Valorem Tax Exemption in accordance with Section 196.1995 of the Florida Statutes whereby the business location is an "exansion of an existing business" for purposes of Section 196.012(15), Florida Statutes. Final approval must be made through an approved Ordinance.
 

Adopt Resolution 24-R56

Amend or deny Resolution 24-R56

Shyanne Harnage, CRA Administrator

Linda Cox, City Clerk/Acting City Manager
Sara Hedges, City Attorney
Economic Development Council of St. Lucie County