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Economic Development Council and staff recommend Board approval of the proposed <br />Ordinance granting an economic development ad valorem tax exemption to INEOS New Planet <br />Bioenergy, LLC, with the conditions outlined in stairs recommendation. <br />(Clerk's Note: Please see the Board's Motion for conditions referenced above.) <br />The Chairman opened the Public Hearing. <br />There were no speakers, and the Chairman closed the Public Hearing. <br />ON MOTION by Commissioner Solari SECONDED by <br />Commissioner Flescher the Board unanimously: (I) found <br />that the INEOS New Planet BioEnergy facility qualifies as <br />a `New Business" under the tax abatement ordinance; (2) <br />found that the application scores in the highest tax <br />abatement award category under the adopted scoring <br />guidelines; (3) granted a tax abatement using the schedule <br />for highest award category, with the 10 -year abatement <br />period to begin in 2013; (4) adopted Ordinance 2011- <br />011, amending Title XI of the Code of Indian River <br />County (Economic Development Ad Valorem Tax <br />Exemption) by creating a new section 1100. 14 granting an <br />economic development ad valorem tax exemption to <br />INEOS New Planet Bioenergy, LLC; making findings and <br />providing for severability and an effective date; and (5) <br />authorized the Chairman to execute the Economic <br />Development Tax Exemption Agreement for INEOS New <br />Planet BioEnergy, LLC facility. <br />AGREEMENT ON FILE IN THE OFFICE OF THE CLERK TO THE BOARD <br />December 20, 2011 12 <br />WACH-HENT 1 <br />105 <br />43 <br />