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CONCLUSION <br />Based on the analysis conducted, staff and the EDC have determined that the proposed PCP Tactical, <br />LLC facility qualifies for the County's tax abatement program. In addition, staff s analysis indicates <br />that the PCP Tactical, LLC tax abatement application scores in the highest award category under the <br />county's tax abatement scoring guidelines. Based on those guidelines, the proposed PCP Tactical, LLC <br />facility qualifies for a 10 year tax abatement beginning in 2023. If a 10 year properly tax abatement is <br />granted as recommended, the maximum potential total property tax abatement over the 10 year period <br />in current dollars is roughly estimated to be $181,110. For the same 10 year period, the maximum <br />potential total property taxes paid in current dollars is roughly estimated to be $287, 291 for schools, <br />bonds, and other districts and $66,220 for the general fund, MSTU, and emergency services fund. <br />RECOMMENDATION <br />Staff and the Economic Development Council recommend that recommend that the Board of County <br />Commissioners approve the tax abatement application and: <br />1. Find that the PCP Tactical, LLC facility qualifies as a "Expansion of an Existing Business" <br />under the tax abatement ordinance; and <br />2. Find that the application scores in the highest tax abatement award category under the adopted <br />scoring guidelines; and <br />3. Grant a tax abatement using the schedule for up to the highest award category, with up to the 10 �. <br />year abatement period to begin in 2023 (a lower award category may be applied if company's. <br />performance results in it meeting lower average wage and/or lower # of provided jobs); and <br />4. Approve the attached ordinance granting an economic development ad valorem tax exemption <br />to PCP Tactical, LLC; and <br />5. Authorize the chairman to execute the Economic Development Tax Exemption Agreement For <br />PCP Tactical, LLC Facility. <br />ATTACHMENTS <br />1. Indian River County Tax Abatement Ordinance (2010-014) <br />2. PCP Tactical, LLC Tax Abatement Application (Confidential Information Withheld) <br />3. Economic Development Policy 2.5 <br />4. Tax Abatement Scoring Guidelines <br />5. Preliminary Tax Abatement Scoring and Estimated Tax Abatement Amounts <br />6. Chamber of Commerce Report <br />7. Property Appraisers Office Report <br />8. Ordinance for PCP Tactical, LLC Exemption (Abatement) <br />9. Agreement with PCP Tactical, LLC <br />F:\Community Development\Users\EDplannr\INCENTIVES & FUNDING\Tax Abatements\Applications\Confidential - C\BCC Agenda 6 <br />Item\BCC Item - PCP Tactical ad valorem report v2.doc <br />