HomeMy WebLinkAbout2011-011ORDINANCE NO. 2011 - ni i
AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF
INDIAN RIVER COUNTY, FLORIDA, AMENDING TITLE XI OF THE
CODE OF INDIAN RIVER COUNTY (ECONOMIC DEVELOPMENT AD
VALOREM TAX EXEMPTION) BY CREATING A NEW SECTION
1100.14 GRANTING AN ECONOMIC DEVELOPMENT AD VALOREM
TAX EXEMPTION TO INEOS NEW PLANET BIOENERGY, LLC;
MAKING FINDINGS AND PROVIDING FOR SEVERABILITY AND AN
EFFECTIVE DATE.
WHEREAS, Title XI of the Code of Indian River County, entitled "Economic
Development Ad Valorem Tax Exemption," authorizes the Board of County Commissioners to
grant economic development ad valorem tax exemptions ("Exemption") to certain new or
expanding businesses; and
WHEREAS, section 196.1995(10), Florida Statutes, requires that any action of the
Board granting an Exemption to a new or expanding business be set forth in an ordinance; and
WHEREAS, the Board has determined that all prerequisites to the granting of an
Exemption to INEOS New Planet BioEnergy, LLC, a Delaware limited liability company, have
been met, and the granting of such Exemption will promote and strengthen the local economy
and thereby enhance the health, welfare and general well-being of the citizens of Indian River
County,
NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, THAT:
SECTION 1. ENACTMENT AUTHORITY.
Section 3, Article VII of the Florida Constitution and section 196.1995, Florida Statutes,
authorize the Board of County Commissioners to grant economic development ad valorem tax
exemptions to certain new and expanding businesses, upon majority vote in favor of such
authority in a referendum called for such purpose. In a referendum held on November 2, 2010, a
majority of voters in Indian River County voted in favor of such authority, and Title XI of the
Code of Indian River County, entitled "Economic Development Ad Valorem Tax Exemption"
became effective.
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 INEOS New Planet BioEnergy, LLC meets the requirements of section 196.012(15), Florida
Statutes.
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ORDINANCE NO. 2011 - o 11
SECTION 3. CREATION OF NEW SECTION.
Title XI of the Code of Indian River County, Florida, is hereby amended to create section
1100.14, as follows (new language underlined):
Section 1100.14 Economic Development Ad Valorem Tax Exemption Granted to INEOS New
planet Bioenergy, LLC (`Business"
(1) An economic development ad valorem tax exemption is hereby granted to
Business whose address is 925 74th Avenue SW, Vero Beach, Florida. The exemption
shall apply to its new improvements to real property and its new tangible personal
property related to its new business located at 925 74th Avenue SW, Vero Beach Florida.
This exemption shall apply only to the improvements to real property and the tangible
personal property described in Business' application for such exemption, on file in the
county community development department.
(2) The exemption shall be for a term of ten (10) years commencing in 2013, the first
year the new improvements and new tangible personal property will be added to the
assessment roll. The amount of the exemption shall be a specified percentage of county_
ad valorem taxes for the General Fund, Municipal Services Taxing Units, and Emergency
Services District which would otherwise be due with respect to the new improvements
and new tangible personal property in the absence of the exemption. The approved
exemption percentages are, as follows:
Year 1
(January 1, 2013 tax roll) ..........
100%
Year 2
(January 1, 2014 tax roll) ..........
100%
Year 3
(January 1, 2015 tax roll) ..........
100%
Year 4
(January 1, 2016 tax roll) ..........
90%
Year 5
(January 1, 2017 tax roll) ..........
80%
Year 6
(January 1, 2018 tax roll) ..........
70%
Year 7
(January 1, 2019 tax roll) ..........
60%
Year 8
(January 1, 2020 tax roll) ..........
50%
Year 9
(January 1, 2021 tax roll) ..........
40%
Year 10 (January 1, 2020 tax roll) ...........
30%
(3) The total amount of revenue available to the County from ad valorem tax sources
for the current fiscal year is $72,845,660; 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 if the exemption's first year had been in effect is $193,951.
(4) 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 Business' compliance with section 1100.10 relating to "Continuing
Performance."
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ORDINANCE NO. 2011 - of l
(5) The Board specifically finds 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. EFFECTIVE DATE.
This ordinance shall become effective upon enactment by the Board of County
Commissioners and filing with the Department of State.
This ordinance was advertised in the Vero Beach Press Journal, on the 5th day of
December , 2011, for a public hearing to be held on the 20th day of December, 2011, at
which time it was moved for adoption by Commissioner. Rol ar i , seconded
by Commissioner Flescher , and adopted by the following vote:
Chairman Gary C. Wheeler Aye
Vice Chairman Peter D. O'Bryan Aye
Commissioner Wesley S. Davis Aye
Commissioner Joseph E. Flescher Aye
Commissioner Bob Solari Aye
The Chairman thereupon declared the ordinance duly passed and adopted this 20th day of
December, 2011.
Deputy Clerk
BOARD OF COUNTY COMMISSIONERS
INDIAN RIVER COUNTY, FLORIDA
By: Gc�
Gary C. Oeeler, Chairman
Approved as to form and legal sufficiency:
- e
Alan . Polackwich, Sr., County Attorney
EFFECTIVE DATE: This ordinance was filed with the Department of State on the 2 8 thday of
December , 2011.
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