Bill Type and Number: Ordinance 2007-272

Sponsor: The Council President at the request of the Jacksonville Economic Development Commission:

Date of Introduction: March 13, 2007

Committee(s) of Reference: F; ECID

Date of Analysis: March 16, 2007

Type of Action: Agreement Authorization; Appropriation

Bill Summary: This ordinance authorizes the execution of an economic development agreement between the City, the Jacksonville Economic Development Commission and Ring Productions, LLC (“producer”) for the funding of two film projects, GLAD ALL OVER and EILIOT ROCKET. The bill appropriates $100,000 from the Countywide Economic Development Fund to provide the producer with a grant of up to $50,000 for the completion of each film project pursuant to the economic development agreement initiated by B.T. 07-111. The bill designates JEDC as monitor.

Background Information: Ring Productions is a Jacksonville-based production company. Its budget for the film project will be approximately $5,581,068. The company proposes to film the motion pictures within the next six months. The company will hire approximately 70 Jacksonville industry professionals and approximately 150 Jacksonville residents as extras and actors resulting in approximately $3 million in new payroll. The City contribution of $100,000 is consistent with previous film production contributions. The productions will have a significant economic impact as well as increase awareness of Jacksonville among other film production companies. JEDC has determined that the project is in the public interest of the City.

Policy Impact: Jacksonville Economic Development Commission

Fiscal Impact: The bill appropriates $100,000

Analyst: Jackson