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ORDINANCE NO. 2024- 006 Section 2. Findings. The Board finds that the above "Whereas" clauses are true and correct and hereby incorporates such clauses as findings of the Board. Additionally, the Board specifically finds that Mod Units LLC. meets the requirements of Section 196.012(15), Florida Statutes. Section 3. Creation of Section 1100.16 of Chapter 1100 (Economic Development Ad Valorem Tax Exemption). New language is indicated by underlining, and deleted language is indicated by st-r-i-kethRao014. Section 1100.16 of Chapter 1100 (Economic Development Ad Valorem Tax Exemption) of the Code of Indian River County, Florida, is hereby created to read as follows: CHAPTER 1100. - ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION Section 1100.16 Economic Development Ad Valorem Tax Exemption Granted to Mod Units LLC. ("Business"Z. (1) An economic development ad valorem tax exemption is hereby granted to a Business whose address is 7756 130th Street, Sebastian, FL 32958. The exemption shall apply to its new tangible personal property related to its new business to be located at 7756 130th Street, Sebastian, FL 32958, described as Lots 15 through 16 of Section 30, LESS the Southwest 100 feet for road right-of-way, all recorded on plat showing subdivision of the Fleming Grant revised from the Carter Survey.Townships 30 and 31 South, Ranges 38 and 39 East, of Brevard and St. Lucie Counties, Florida, by A. A. Berry, July 6, 1913, said plat filed in Plat Book 2, Page 14, of the Public Records of St. Lucie County, Florida. Said land is now lying and being in Indian River County, Florida. This exemption shall apply to new tangible personal property described in the Business' Application for such exemption and real property. (2) The exemption shall be for a term of 8 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, 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: