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ORDINANCE NO. 2020® <br />AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF <br />INDIAN RIVER ' COUNTY, FLORIDA, CREATING A NEW SECTION <br />1100.15 (ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION <br />GRANTED TO PCP TACTICAL, LLC ("BUSINESS")) OF CHAPTER 1100 <br />(ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION) OF <br />TITLE XI (ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION) <br />OF THE CODE OF INDIAN RIVER COUNTY GRANTING AN ECONOMIC <br />DEVELOPMENT AD VALOREM TAX EXEMPTION TO PCP TACTICAL, <br />LLC; MAKING FINDINGS AND PROVIDING FOR SEVERABILITY AND <br />AN EFFECTIVE DATE. <br />WHEREAS, Title XI of the Code of Indian River County, entitled "Economic <br />Development Ad Valorem Tax Exemption Ordinance," authorizes the Board of -County <br />Commissioners to grant economic . development ad valorem tax exemptions <br />("Exemption") to certain new or expanding businesses; and <br />WHEREAS, Section 196.1995(l 1), Florida Statutes, requires that any action of the <br />Board granting an Exemption to a new or expanding business be set forth in an ordinance; <br />and <br />WHEREAS, the Board has determined that all prerequisites to the granting of an <br />Exemption to PCP Tactical, LLC have been met, and the granting of such Exemption will <br />promote and strengthen the local economy and thereby enhance the health, welfare and <br />general well-being of the citizens of Indian River County, <br />NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY <br />COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, THAT: <br />Section 1. Enactment Authoritv. <br />Section 3, Article VII of the Florida Constitution and Section 196.1995, Florida Statutes, <br />authorize the Board of County Commissioners to grant economic development ad <br />valorem tax exemptions to certain new and expanding businesses, upon majority vote in <br />favor of such authority in a referendum called for such purpose. In a referendum held on <br />November 2, 2010, a majority of voters in Indian River County voted in favor of such <br />authority, and Title XI of the Code of Indian River County, entitled "Economic <br />Development Ad Valorem Tax Exemption Ordinance" became effective. <br />