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economic development ad valorem tax exemptions currently in effect is $0.00; and the estimated revenue loss to the county for the current fiscal year if the exemption's first year had been in effect is one hundred ninety-three thousand, nine hundred fifty-one dollars ($193,951.00). (4) The exemption shall be subject to all provisions set forth in sections 1100.01 through 1100.13. Without limitation, the continuation of the exemption shall be contingent upon business' compliance with section 1100.10 relating to "continuing performance." (5) The board specifically finds that business meets the requirements of F.S. § 196.012(15). (Ord. No. 2011-011, § 3, 12-20-11) Section 1100.1S. - Economic development ad valorem tax exemption granted to PCP Tactical, LLC '("business"). (1) An economic development ad valorem tax exemption is hereby granted to business whose address is 3895 39th Square, Vero Beach, FL 32960. The exemption shall apply to its new improvements to real property and its new tangible personal property related to planned expansion of its existing business to be located at 4155 49th Avenue, Vero Beach, Florida, 32967, described as lots 2, 3, and 4, Indian River Industrial Center, according to the plat thereof recorded in Plat Book 23, Page 9, of the Public Records of Indian River County, Florida. This exemption shall apply only to the improvements to real property and the tangible personal property described in business' application for such exemption. (2) The exemption shall be for a term of ten (10) years commencing with the first year the new improvements or new tangible personal property are added to the assessment roll. The amount of the exemption shall be a specified percentage of county ad valorem taxes for the general fund, municipal services taxing units, and emergency services district, which would otherwise be due with respect to the new improvements or new tangible personal property in the absence of the exemption. The approved exemption percentages are, as follows: Year 1 (January 1, 2023 tax roll) .....100% Year 2 (January 1, 2024 tax roll) .....100% Year 3 (January 1, 2025 tax roll) .....100% Year 4 (January 1, 2026 tax roll) .....90% Year 5 (January 1, 2027 tax roll) .....80% Year 6 (January 1, 2028 tax roll) .....70% Year 7 (January 1, 2029 tax roll) .....60% Year 8 (January 1, 2030 tax roll) .....50% Year 9 (January 1, 2031 tax roll) .....40% Year 10 (January 1, 2032 tax roll) .....30% (3) On or before January 15th of each year, beginning in 2023, PCP Tactical, LLC shall submit to the county community development department an annual report providing evidence of continued compliance with the definition of an expanding business and the Indian River County Ad Valorem Tax Abatement Application Scoring Guidelines used to set the exemption percentages set forth above for each of the ten years during which PCP Tactical, LLC is eligible to receive ad valorem tax exemption. If the annual report is not received, or if the annual report indicates PCP Tactical, LLC no longer meets the criteria of F.S. § 196.012, or no longer meets the Indian River County Ad Valorem Tax Abatement 15