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business to be eligible for a tax abatement if it locates within the Enterprise Zone and provides only I <br /> new job, and removes the extra points in the scoring matrix for being located in an Enterprise Zone <br /> (see attachment 4). <br /> Enterprise Zone Area Resolution <br /> Based upon the above analysis, staff has prepared the attached resolution. As structured, the <br /> resolution will continue the local jobs grant 10% "Enterprise Zone" bonus for the two existing <br /> agreements(PCP Ammunition and Girard Equipment)and will authorize future jobs grant incentive <br /> bonuses for new jobs created in the former Enterprise Zone area. Specifically, the proposed <br /> resolution: <br /> 1. Recognizes the sun-setting of the Florida Enterprise Zone Program and termination of county <br /> ordinances; and <br /> 2. Preserves the 10% local jobs grant bonus contained in the existing agreements with PCP <br /> Ammunition and Girard Equipment for as long as those agreements remain valid; and <br /> 3. Establishes a county policy to continue offering a 10%bonus for new jobs created within the <br /> geographic area of the old Enterprise Zone; and <br /> 4. Renames (for purposes of continuing the 10% bonus) the former Enterprise Zone to the <br /> Indian River County/City of Vero Beach Enterprise Area. <br /> CONCLUSION <br /> Based on the analysis,continuing a 10%local jobs grant bonus for new targeted industryjobs created <br /> within the Enterprise Zone area is consistent with the Gifford Neighborhood Plan and will allow the <br /> county to continue to promote the former Enterprise Zone area with special redevelopment and job <br /> growth opportunities.Based on past local jobs grant award history,it is anticipated that continuing to <br /> provide the 10%local jobs grant bonus will have limited impact on the overall county budget. With <br /> respect to the County's Economic Development Ad Valorem Tax Exemption ordinance and <br /> application, authorizing the advertisement for a public hearing to amend that ordinance per the <br /> County Attorney's agenda item and authorizing the proposed application form changes outlined in <br /> this agenda item will bring that program into compliance with state statutes. <br /> RECOMMENDATION <br /> Staff recommends that the Board of County Commissioners: <br /> 1. Approve the attached resolution providing for the continued recognition of the Indian River <br /> County/City of Vero Beach Enterprise Zone area as an area eligible for a 10% local jobs <br /> grant bonus; and <br /> 2. Approve the attached proposed changes to the County's Economic Development Ad <br /> Valorem Tax Exemption application form and scoring matrix to remove references to the <br /> Enterprise Zone. <br /> 5 <br /> 224 <br />