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levies this tax in the unincorporated area. Municipalities levy this tax within their corporate <br /> limits. Therefore, the businesses within the City of Vero Beach would not receive this incentive, <br /> unless it is passed by the County and the City. The EZDA consensus was to recommend <br /> approval of this proposed incentive. <br /> This incentive would reduce revenues for the M.S.T.U. Fund depending upon the number of <br /> eligible applicants per year. It is difficult to estimate the countywide impact of this incentive <br /> whether implemented in the Enterprise Zone only or on a countywide basis. Please see the table <br /> below for the impact that this incentive would have generated for each of the three local jobs <br /> grant applicants. Local Business Tax receipts generated about $180,000 in revenues for the <br /> M.S.T.U. Fund last year. This revenue offsets ad valorem taxes in the M.S.T.U. Fund. Waivers <br /> of this revenue result in an increased burden on the property tax revenue to fund unincorporated <br /> area services. The impact of an individual waiver is not significant. However, the result in some <br /> other counties has been a substantial impact to this revenues source. <br /> 7. Waive Local Business Tax Receipt r a Limited Period of Time <br /> Estimated <br /> Additional <br /> Company Name Incentive Comments/Notes <br /> This estimate assumes a 5-year period. <br /> INEOS New Planet BioEnergy LLC $200 A 3-year waiver would equal $120. <br /> This estimate assumes a 5-year period. <br /> SpectorSoft Corporation $200 A 3-year waiver would equal $120. <br /> This estimate assumes a 5-year period. <br /> Communications International Inc. $200 A 3-year waiver would equal $120. <br /> Total $600 <br /> g, Waive in whole or in art the Franchise Fee or Fee-in-Lieu-of-Franchise Fee for a <br /> Limited Period of Time <br /> Utilities provided in the unincorporated area of the Enterprise Zone are charged a franchise fee <br /> or fee-in-lieu-of-franchise fee of about 6%. The utilities operating in the area include Florida <br /> Power & Light (electric), City of Vero (electric, water & sewer), and the County (water & <br /> Sewer). The proposed incentive is to waive this fee in whole or in part for a limited period of <br /> time—again, perhaps three to five years. This waiver would result in reduced revenues for the <br /> M.S.T.U. Fund, which funds County municipal services in the unincorporated area of the <br /> County. Implementation of this incentive would likely require amendment of the franchise <br /> agreements with the City of Vero and Florida Power & Light and amendment to the County <br /> Code for the County Utility. The County would also need to coordinate with each utility to <br /> administer the program. <br /> This incentive would reduce revenues for the M.S.T.U. Fund depending upon the number of <br /> eligible applicants per year and each applicant's consumption of utilities. It is difficult to <br /> estimate the countywide impact of this incentive whether implemented in the Enterprise Zone <br /> only or on a countywide basis. Additionally, it is very difficult to estimate the utility <br /> consumption profile of the three local jobs grant applicants. Therefore, staff has used <br /> information from FPL to determine an estimate of energy consumption for a 15,000 square foot <br /> office building. A typical user would pay franchise fees totaling about $1,300 per year. A five- <br /> 119 <br />