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ORDINANCE NO. 2021- 001 Section 2. Findings. The Board finds that the above "Whereas clauses are true and correct, and hereby incorporates such clauses as findings of the Board. Additionally, the Board specifically finds that Diamond Emnks of Florida, Inc. meets the requirements of Section 196.012(15), Florida Statutes. Section 3 Creation of Section 1100.16 of Chapter 1100 (Economic Development Ad Valorem Tax Exemptionl. New language indicated by underline, and clelated language indicated by shikethreugH. Section 1100.16 of Chapter 1100 (Economic Development Ad Valorem Tex Exemption) of the Code of Indian River County, Florida, is hereby created to mad as follows: CHAPTER 1100 - ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION 11* Section 110016 Economic Development Ad Valorem Tax Exemption Granted to Diamond Drinks of Florida, Inc. PBusinesel. (1) An economic develoopuent ad valorem fax exemption is hereby granted to Business whose irdliessr; is 7355 V Stneet SW Vem Beach FL 32958. The exemption shall apply to Its new tanalble personal property related to its new business to be located at 7355 90 Street SW Vero Beach FL 32968, described as the west M of Tract 4 Section 30 Township 33 South, Raiwe 39 East, accord no to the last genemal plat of lands at Indian River Farms Company filed in the officei of the Cledr of Circuit Court of SL Lucie County, Flonda in Plat Book 2 Page 25 Public Records of SL Luce County. Florida said land now Iving and be"beina in Indian River County, Florida This pt' shall apply only to new tainallble Personal property described iBusiness'Application for h examption. (2) The exemptlonshall be for a temn of e years commencing with the first th near improvements or new tangible Personal Property are added tithe assessment roll. The amount of the exemption shall be a specified percentage of county ad valorem taxes for the General Fund Municipal Services Taxing Unita. and Ememenw Services Dist let which vioulicl otheradire be due with respect to the nev Improvements or near tangible rN in the b of the exemption The approved exemption percentages are, as follows: Year 1 (January 1. 21W tax ro10....... 100% Year 2 (January 1. 2023 tax roll) .......100% Year 3 (January 1. 2024 tax roll) .......90%