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A TRUE COPY <br />CERTIFICATION ON LAST PAGE <br />ORDINANCE NO, 2011 - oil J.K. BARTON, CLERK <br />SECTION 3. CREATION OF NEW SECTION. <br />Title XI of the Code of Indian River County, Florida, is hereby amended to create section <br />1100. 14, as follows (new language underlined): <br />Section 1100.14 F,conomic Development Ad Valorem Tax Exemption Granted to 1NEOS New <br />(`B <br />Aland Bioenergy. LLC usiness") <br />(1) <br />This exemption shall apply only to the --—improvements to real Property and the tangible <br />Prsonal Property descn'bed in Business' application for such exemption, on file in the <br />county community devel entgent, <br />(2) The exemption shall be for a germ of ten (10) years cornencing in 2013 the first <br />year the new improvements and new ible personal property BtM- be added IQ, the <br />assess ent rollThe amount of the exemption shall be a specified Pea+centage of county <br />and new tansible versonal property in the absence of the exemption The appMved <br />exemption pgmgMjM are as follows: <br />Year 1 <br />(January 1, 2013 tax roll) .......... <br />100% <br />Year 2 <br />(January 1, 2014 tax roll) .......... <br />100% <br />Year 3 <br />(January 1, 2015 tax roll) .......... <br />100% <br />Year 4 <br />(January 1, 2016 tax roll) .......... <br />90% <br />Year 5 <br />(January 1, 2017 tax roll) .......... <br />800/6 <br />Year 6 <br />(January 1, 2018 tax roll) .......... <br />70% <br />Year 7 <br />(January 1, 2019 tax roll) .......... <br />60% <br />Year 8 <br />(January 1, 2020 tax roll) .......... <br />50'/o <br />Year 9 <br />(January 1, 2021 tax roll) .......... <br />40% <br />Year 10 <br />(January 1, 2020 tax roll) ........... <br />301/o <br />(3) The total amount of revenue available to the County from ad valorem tax sources <br />9r_ the current fiscal Year is $72 845 660• the total amount of revemre lost to The Cody <br />for ft current fiscal year by viztue of economic developmem _ ent ad yA!Q a=9pps <br />currently in effect is $0,• and the estimated revenue 12ss ta dw County for the curia t <br />ftscsl Year if1he exemption's first year had been in effect is $U3,95 1 <br />(4) The exemption shall be subject to all Provisions set forth in sections 1100.01 <br />through1100Without limWdion, the continuation of the exemption shall be <br />contingent upon Business' comp]iancg grith section 1100.10 relating "Continuine <br />Performance." <br />2 <br />9MCHMEW 2. <br />107 <br />45 <br />