HomeMy WebLinkAbout2011 06 13 Regular 600 Business Tax Receipt UCF Incubator Business Program
COMMISSION AGENDA
Consent
Informational
ITEM 600
Public Hearing
Regular
X
June 13, 2011
Meeting
Mgr. / Dept
Authorization
REQUEST:
The City Manager and the Community Development Department request that the
City Commission consider and provide direction to staff with respect to establishing an
economic development grant program to assist City businesses enrolled in the UCF Incubation
Business Program with payment of business tax receipt fees.
SYNOPSIS:
The City Commission has expressed interest in providing economic development opportunities
for businesses enrolled in the UCF Incubation Business Program (“Incubation Program”). As
such, staff is requesting direction from the City Commission with respect to a proposed
economic grant development program for eligible City Incubation Program businesses to assist
with payment of City and County business tax receipt fees.
CONSIDERATIONS:
1.There are currently sixteen (16) City of Winter Springs businesses enrolled in the
Incubation Program. The annual City fee for each commercial Business Tax Receipt is
$100.00. The annual Seminole County fee for each Business Tax Receipt is $25.00 for a
non-regulated business and $45.00 for a regulated business.
2.Staff is proposing that the City Commission establish an economic development grant
fund to assist businesses enrolled in the Incubation Program with payment of City
business tax receipts.
3.Under staff’s proposal, the City Commission could elect to allocate money to the
economic development grant fund as it deems appropriate, but would not be obligated to
allocate money to the fund at any time. Applicants would receive grant funds on a first-
come, first-serve basis.
June 13, 2011
Regular Item 600
Page 2
4.Staff proposes a process whereby interested eligible City businesses would file their
business tax receipt application and include with it a certification from the University of
Central Florida that the City business is currently enrolled in the Incubation Program.
Staff would process these applications like any other business tax receipt application, and
upon approval, would utilize available grant funds to pay the business tax receipt on
behalf of the business.
5.In the event the City Commission desires to establish an economic development grant
fund as set forth above, Staff and the City Attorney’s office will prepare a resolution for
the City Commission’s consideration.
FISCAL IMPACT:
The fiscal impact depends on the amount allocated to the fund by the City Commission at
any given time. The UCF Incubation Business Program currently has sixteen (16) clients. The
annual city fee for each commercial Business Tax Receipt is $100.00. The annual Seminole
County fee for each Business Tax Receipt is $25.00 for a non-regulated business and $45.00 for
a regulated business.
COMMUNICATION EFFORTS:
This Agenda Item has been electronically forwarded to the Mayor and City Commission,
City Manager, City Attorney/Staff, and all eAlert/eCitizen recipients; and is available on the
City’s website, LaserFiche, and the City’s server. Additionally, portions of this Agenda Item are
typed verbatim on the respective meeting agenda which has also been electronically forwarded to
the individuals noted above; and which is also available on the City’s website, LaserFiche, and
the City’s server; has been sent to City staff, media/press representatives who have requested
agendas/agenda item information, homeowner’s associations/representatives on file with the
City, and all individuals who have requested such information; and has been posted outside City
Hall; posted inside City Hall with additional copies available for the general public; and posted
at five (5) different locations around the City. This Agenda Item is also available to any new
individual requestors. City Staff is always willing to discuss this or any Agenda Item with any
interested individuals.
RECOMMENDATION:
The City Manager and Community Development Department are requesting that the City
Commission consider this information and provide direction with respect to establishment of an
economic development grant program to assist eligible City businesses with payment of City and
County business tax receipt fees.
ATTACHMENTS:
None