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ORDINANCE NO. 2024-006 Year 1 (January 1, 2025 tax roll) 100% Year 2 (January 1, 2026 tax roll) 100% Year 3 (January 1, 2027 tax roll) . 90% Year 4 (January 1, 2028 tax roll) 80% Year 5 (January 1, 2029 tax roll) 60% Year 6 (January 1, 2030 tax roll) 40% Year 7 (January 1, 2031 tax roll) 20% Year 8 (January 1, 2032 tax roll) 10% (3) On or before January 15th of each year, beginning in 2025, Mod Units LLC. shall submit to the County Planning and Development Services Department an annual report providing evidence of continued compliance with the definition of an expanding business and the Indian River County Ad Valorem Tax Abatement Application Scoring Guidelines used to set the exemption percentages set forth above for each of the eight years during which Mod Units LLC. is eligible to receive ad valorem tax exemption. If the annual report is not received, or if the annual report indicates Mod Units LLC. no longer meets the criteria of F.S. § 196.012(15),or no longer meets the Indian River County Ad Valorem Tax Abatement Application Scoring Guidelines used to set the exemption percentages set forth above, the County Planning and Developing Services Director shall make a report to the Board of County Commissioners for consideration of revocation or reduction of the tax exemption awarded under this section. (4) The total amount of revenue lost to the County for the current fiscal year by virtue of economic development ad valorem tax exemptions currently in effect is $0, and the estimated revenue loss to the County for the current fiscal year attributable to the exemption granted in this section is $0. The estimated revenue loss to the County for fiscal year 2025 is$23,602.40. (5) The exemption shall be subject to all provisions set forth in sections 1100.01 through 1100.13. Without limitation,the continuation of the exemption shall be contingent upon the Business' compliance with section 1100.10 relating to "Continuing Performance." (6) The Board finds explicitly that Business meets the requirements of section 196.012(15), Florida Statutes. Section 4. Severability. If any part of this ordinance is held to be invalid or unconstitutional by a court of competent jurisdiction, the remainder of this ordinance shall not be affected by such holding and shall remain in full force and effect. Section 5. Codification. It is the intention of the Board of County Commissioners that the provision of this ordinance shall become and be made part of the Indian River County Code, and that the sections of this ordinance may be renumbered or re-lettered and the word ordinance