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Board of County Commissioners December 31, 2012 - Page Three State of Florida created incentives specific to Enterprise Zones are set forth in FS 290.007 (attached as Exhibit C), and include: • Jobs credit • Property tax credit • Community contribution tax credit • Sales tax exemption for building materials used in property rehabilitation projects • Sales tax exemption for business equipment • Sales tax exemption for electrical energy • Jobs credit against sales tax • Possible FSC -')0'7'0 discount on tariffed rates for public utilities and telecommunications services And, existing County created incentives specific to the Enterprise Zone include: • 10% "bonus" under local jobs grant program • Reduced qualification criteria for the ad valorem tax exemption approved by referendum in November 2010 r.. • Assistance with applications for state created incentives Against this background of existing incentives, the County Attorney researched Enterprise Zone incen- tives in other counties and municipalities, reviewed State of Florida reports summarizing local incentive activity throughout the state, and worked with the Planning Department and with Helene Caseltine of the Chamber of Commerce to develop a list of possible new County incentives for the Enterprise zone. The effort was influenced by the fact that Florida law grants broad authority to counties to create economic incentives generally (FS 125.045) and in Enterprise Zones (FS 290.0135) (copies of the statutes are at- tached as Exhibit D). Eight possible new incentives were identified, all of which would apply only to new or expanding businesses. On November 8, 2012, the eight incentives were presented to the IRC Enterprise Zone Development Agency ("Agency") for comment. A copy of the draft minutes of the Agency meeting, which reflect Agency member comments on each proposed incentive, are attached as Exhibit E. The eight possible new incentives are: 1. Subsidize (in whole or in part) County Impact Fees. Under the current IRC Code, any business building new facilities, and some businesses expanding existing facilities, in the Enterprise Zone would be required to pay impact fees (note that corrections, public buildings and solid waste impact fees have been suspended countywide until March 31, 2014). Because of the "proportionate share" nature of im- pact fees, these fees cannot simply be waived; rather, non-payment of the fees by the new or expanding FWtto qDU d.IGENER7LIB CCWge d.Afem E.I rpris,Zn 1—fi,e 2doc 102