Subject:
Title
Employment Sites Program Funding Agreement for a sum of not-to-exceed $400,000.00 to St. Joseph’s Holdings, LLC.
label
Recommended Action:
Recommended Action
Approval and execution by the County Administrator of an Employment Sites Program (ESP) Funding Agreement for a sum of not-to-exceed $400,000.00.
• Funding in the amount of $400,000.00 was approved by the Board of County Commissioners at its July 22, 2025 meeting (Legistar File 25-0952A).
• The project will renovate a portion of an existing site and redevelop a former Armory building into an industrial facility.
• The total project budget is estimated to be $3,190,000.00.
• The company currently has 20 employees and expects to increase their employment with 12 new positions.
• Funding for this project is included in the FY24-FY29 Capital Improvement Program plan under the Economic Development Capital Projects (project 004149A). This project is funded by Local Infrastructure Sales Surtax (Penny for Pinellas), as part of the 8.3% countywide investment for Economic Development and Housing, half of which, or 4.15%, is set aside for Economic Capital Projects specifically. Including this item, the total amount of Penny IV economic development funds committed is $45,155,476.62 out of the $94,089,117.88 currently estimated in all ten years of Penny IV.
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Strategic Priorities:
Prosperity and Opportunity
3.3 Increase workforce opportunities.
3.5 Foster business growth.
Summary:
The project will renovate a portion of an existing facility and convert the former National Guard Armory building into an industrial facility that will contain light manufacturing, logistics, research and development and related uses. The planned improvements to the former Armory include adding stormwater to a facility that has none currently along with installation of a fire suppression system to meet building code requirements with the conversion of the Armory from office to industrial use. Additionally, the facility will require the construction of loading docks, LED lighting and reinforced concrete floors.
Background/Explanation:
The company applied for funding during the seventh round of the Employment Sites Program with plans to renovate their existing facility and assume a lease agreement with the City of Clearwater for the Armory facility across the street. Since the time of application, it was decided that they will purchase the Armory from the City of Clearwater rather than lease. The expansion will create space for new roles across departments for Yo Mama’s Foods such as production, sales, marketing, administration and research & development. Currently the company has 20 employees, and they will create another estimated 12 job opportunities with the renovation and expansion project. The Economic Development department has worked with them on numerous levels including assistance with international outreach, export assistance, and Small Business Development Center lending programs.
The Agreement has a termination date of twenty (20) years from the Effective Date and has three payments based on construction milestones. For a period of the first ten (10) years of the Agreement, the business will provide an annual report to Pinellas County identifying the total commercial square footage used and the total number of jobs with their average wages for the structure.
The company will be responsible for maintaining and operating the industrial building for the term of the Agreement. If the company defaults on the Agreement, there is a process identified for the repayment of grant funds based on the time of the default.
Fiscal Impact:
Including this item, the total amount of Penny IV economic development funds committed is $45,155,476.62 out of the $94,089,117.88 currently estimated in all ten years of Penny IV.
Funding for this project is included in the FY24-FY29 Capital Improvement Program plan under the Economic Development Capital Projects (project 004149A). This project is funded by Local Infrastructure Sales Surtax (Penny for Pinellas), as part of the 8.3% countywide investment for Economic Development and Housing, half of which, or 4.15%, is set aside for Economic Capital Projects specifically.
The Penny IV Economic Development Program (project 004149A) has an FY26 Amended Budget of $31,610,000.00. There is sufficient funding to approve this recommendation. Attached to the Granicus item is a tracking document that shows the FY27-FY32 Estimated CIP, as well as all expenditure activity, both historical and planned.
Delegated Authority:
The funding was approved by the Board of County Commissioners at its July 22, 2025 meeting, and delegated authority was given to the County Administrator to negotiate and execute all agreements and documentation.
Staff Member Responsible:
Cynthia Johnson, Director, Economic Development
Partners:
N/A
Attachments:
Employment Sites Program Funding Agreement
Project Summary Sheet