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INDIAN RIVER COUNTY, FLORIDA MEMORANDUM TO: Jason E. Brown; County Administrator THROUGH: Phillip J. Matson, AICP; Community Development Director FROM: Bill Schutt, AICP; Chief, Long Range Planning DATE: October 20, 2020 RE: Consideration of PCP Tactical LLC's Request For an Economic Development Ad Valorem Tax Exemption (Tax Abatement) [Legislative] It is requested that the following information be given -formal consideration by the Board of County Commissioners (BCC) at its Special Call meeting of October 28, 2020. DESCRIPTION AND CONDITIONS On November 2, 2010, the voters of Indian River County approved a tax abatement referendum, and the tax abatement ordinance (Chapter 1100 of the Indian River County Code) then went into effect. That ordinance, along with state statutes, establishes tax abatement requirements, sets tax abatement limitations, and governs the County's tax abatement process (see attachment #1). Per statutory requirements, the ability to grant tax abatements automatically expires after ten years unless renewed through a voter referendum. For Indian River County, the authority to issue tax abatement under the current ordinance expires on November 2, 2020. Because of this, the BCC approved a ballot measure earlier this year to consider renewing the tax abatement program. That ballot measure will be considered by voters on November 3, 2020. Recently, PCP Tactical, LLC, a local manufacturer applied for a County tax abatement to relocate and expand its operations within the County (see attachment #2). That request is being expedited because it is understood that with any ballot measure that goes to the voters, it is not certain how voters will vote and in this instance the Company would like to secure the incentive to relocate and expand its operations in the county prior to the ability to issue the incentive expires. As indicated in its tax abatement application, PCP Tactical, LLC proposes to locate an approximate 30,000 square foot manufacturing facility at 4155, 4185, and 4225 49th Avenue, Vero Beach. Those addresses are lots 2, 3, and 4 of the Indian River Industrial Center Subdivision located north of 41 st Street and approximately %2 mile west of 43rd Avenue. While PCP Tactical, LLC has submitted for a pre -application conference to obtain input on developing at the location, site plan approval will be needed prior to obtaining permits to construct a new manufacturing facility on the- subject site. Applicant estimates that all construction for the entire facility will be completed during calendar years 2021-2022. FXommunity Development\Users\EDplannr\INCENTIVES & FUNDING\Tax AbatementsWpplications\Confidential - C\BCC Agenda 1 Item\BCC Item - PCP Tactical ad valorem report v2.doc