Subject:
Title
First Amendment to Interlocal Funding Agreement with Mastry’s Brewing Co. LLC for the construction of a new headquarter operations including a primary manufacturing space.
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Recommended Action:
Recommended Action
Approval and execution by the County Administrator of a First Amendment to Interlocal Funding Agreement with Mastry’s Brewing Co. LLC (Company) for the construction of a new headquarter operations including a primary manufacturing space.
• The Pinellas County Board of County Commissioners approved funding for a new headquarter operations including a primary manufacturing space and expandable operation space totaling 19,600 square feet in the amount of $1,624,000.00 at its January 16, 2024 meeting.
• An Interlocal Funding Agreement was executed on March 18, 2024.
• The Company has requested a time extension to obtain all permits for the project.
• The extension will allow the Company until March 18, 2026 to obtain all permits.
• There is no fiscal impact associated with this amendment.
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Strategic Priorities:
Prosperity and Opportunity
3.5 Foster business growth
Summary:
Mastry’s Brewing Co. LLC will be building a new headquarter operations that includes a primary manufacturing location that will ultimately triple their current manufacturing capabilities. The Time Extension Amendment will allow additional time to obtain permits.
Background/Explanation:
The fifth application cycle for the County’s Employment Sites Program opened on June 26, 2023, and closed on August 25, 2023. Mastry’s Brewing Co. LLC applied for funding in order to underwrite a gap in funding of their headquarter operations and manufacturing space related to development costs. The Pinellas County Board of County Commissioners approved funding of $1,624,000.00 at its January 16, 2024 meeting. An Interlocal Funding Agreement was executed on March 18, 2024. The agreement has a termination date of twenty (20) years from the Effective Date. The only change the amendment makes to the agreement is the extension of time to obtain permits.
Fiscal Impact:
There is no fiscal impact associated with this amendment.
Delegated Authority:
Delegated authority was given to the County Administrator to negotiate and execute all agreements and documentation by the Board at its January 16, 2024 meeting.
Staff Member Responsible:
Cynthia Johnson, Director, Economic Development
Partners:
N/A
Attachments:
First Amendment to Interlocal Funding Agreement
Interlocal Funding Agreement