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Title XI. - ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION Ich. Economic Development Ad Valore]Tax j 1100. Exemption, §§ 1100.01-1100.14 CHAPTER 1100. - ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTIONM Footnotes: --- (1) --- Editor's note— In order to preserve the style of this Code, and at the editor's discretion, ch. 1100 has been added. Section 1100.01. - Short title. Title XI shall be known as the Indian River County Economic Development Ad Valorem Tax Exemption Ordinance. (Ord. No. 2010-014, §§ 1, 2,6-22-10) Section 1100.02. - Enactment authority Article VII, Section 3, of the Constitution of the State of Florida and F.S. § 196.1995, authorize the county to grant economic development ad valorem tax exemptions to new businesses and expansions of existing businesses after the electors of the county, voting on the question in a referendum, authorize such exemptions. (Ord. No. 2010-014, § § 1, 2, 6-22-10) Section 1100.03. - Findings of fact. (a) An important function of local government is the promotion of a strong local economy by providing financial incentives that will encourage new businesses to locate and existing businesses to expand within its jurisdiction, thereby creating new jobs, improvements to real property, and additions to tangible personal property. (b) The health, welfare and general well-being of the citizens of Indian River County willbe enhanced by the location of new businesses and the expansion of existing businesses within Indian River County. (c) The board of county commissioners determines that the granting of economic development ad valorem tax exemptions to new businesses locating in Indian River County and to existing businesses expanding in Indian River County will promote and strengthen the local economy and thereby enhance the health, welfare and general well-being of the citizens of Indian River County. (Ord. No. 2010-014, §§ 1, 2, 6-22-10) Section 1100.04. - Definitions of terms. Attachment 1 ,�