Economic Development Incentive Agreement Project Modern.

Economic Development Incentive Agreement

Project Modern

Background• Existing Local Company (Contemporary

Machinery and Engineering Services, Inc.)– Manufactures High Tech Machinery for the

Railroad Industry– Currently Employs 25 People– Located along Roberts Road– Currently Outside the City– Currently Receives Potable Water Service– Utilizes a Septic System

• Company looking to Expand, but Concerned about Expansion and Sewer Connection Costs

Incentive Agreement• Company, Enterprise Flagler, City

Attorney, and City Staff Proposal• Company Agrees to:

– Expand Operations– Create 30 Additional Primary Jobs (>$46,176)– Connect to City’s Sanitary Sewer System– Sign Voluntary Annexation Petition

• City Agrees to:– Extend a Sanitary Sewer Line– Offset Sanitary Sewer Impact/Connection Fees– Expedite City Permits

Recommendation

• City Staff Recommend Approval• Consistent with City Council Goals for

Expanding Local Economy• Consistent with Draft Prosperity 2021

– Roberts Road District– Encourage Job Creation: Comprehensive

Incentive Program

• Ancillary Benefit for Environment