SUBJECT:
Title
Request Approval of an Economic Development Financial Incentive Grant Agreement Between Marion County and Citron Energy Florida, LLC (Budget Impact - None for This Fiscal Year; up to $90,000 over three years once project begins)
Body
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INITIATOR: |
DEPARTMENT: |
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Michael McCain, Executive Director |
County Administration |
DESCRIPTION/BACKGROUND:
Citron Energy Florida, LLC is a business that converts non-recyclable, non-organic waste into usable energy.
Attached for review and consideration is the proposed Economic Development Incentive Grant (EDFIG) Agreement between Marion County and Citron Energy Florida, LLC.
Pending Board approval of the proposed incentives, the company is preparing to invest $12,500,000 in Capital Improvements. The company is also committed to creating 18 jobs new to Marion County with an average annual wage of at least $82,000 exceeding the required 115-percent of Marion County’s average annual wage.
BUDGET/IMPACT:
None for this Fiscal Year; up to $90,000 over three (3) years once project begins.
RECOMMENDED ACTION:
Recommended action
Motion to approve and authorize the Chair to execute the EDFIG Agreement between Marion County and Citron Energy Florida, LLC.
end