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T. <br />RESOLUTION 2006- 115 <br />A RESOLUTION BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN <br />RIVER COUNTY, FLORIDA; ENDORSING ABILITIES RESOURCE CENTER OF <br />INDIAN RIVER COUNTY AS A SPONSORING AGENCY UNDER THE FLORIDA <br />ENTERPRISE ZONE COMMUNITY CONTRIBUTION TAX CREDIT PROGRAM; <br />AND FINDING THAT THE ABILITIES RESOURCE CENTER OF INDIAN RIVER <br />COUNTY PROJECT IS CONSISTENT WITH THE INDIAN RIVER COUNTY/ CITY <br />OF VERO BEACH ENTERPRISE ZONE STRATEGIC PLAN AND INDIAN RIVER <br />COUNTY COMPREHENSIVE PLAN. <br />WHEREAS, the State of Florida has enacted the Florida Enterprise Zone Act, <br />Sections 290.001 - 290.016, Florida Statutes, to provide incentives by both State and <br />local government to induce private investment into distressed areas to create economic <br />opportunities and sustainable economic development; and <br />WHEREAS, the Board of County Commissioners enacted Resolution #2005-084 <br />on May 24, 2005, nominating a portion of Indian River County and the City of Vero <br />Beach as an Enterprise Zone pursuant to the Florida Enterprise Zone Act; and <br />WHEREAS, the State of Florida created the Indian River County/City of Vero <br />Beach State Enterprise Zone effective July 1; 2005; and <br />WHEREAS, the State encourages the participation of private corporations in <br />revitalization projects by granting either partial state corporate income/franchise tax <br />credits, sales tax credits, or credit towards insurance premium taxes to corporations that <br />contribute resources to public redevelopment organizations for the revitalization of <br />enterprise zones; and <br />WHEREAS, the State, under Section 220.183, Florida Statutes, authorized the <br />Community Contribution Tax Credit Program, which allows any Florida corporation to <br />receive a credit against any corporate income/franchise tax, sales tax, or insurance <br />premium tax due for a taxable year of 50 percent of the value of a donation (not to exceed <br />a $200,000 credit in any one year) for contributions to a State approved community <br />development project located within the Enterprise Zone; and <br />WHEREAS, The Abilities Resource Center of Indian River County (ARC), a non- <br />profit organization incorporated in the state of Florida, operates within the Indian River <br />1 <br />