HomeMy WebLinkAbout2020-225ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION
AGREEMENT
THIS AGREEMENT is entered into as of the 28th day of October, by and between Indian River
County, a political subdivision of the State of Florida ("County") and PCP Tactical, LLC, a limited
liability company, organized and existing under the laws of the State of Delaware ("Business").
WHEREAS, County has adopted the Indian River County Economic Development Ad Valorem
Tax Exemption Ordinance ("Ordinance"), set forth in Title XI of the Indian River County Code ("Code");
and
WHEREAS, County has adopted Ordinance No. 2020- 114 ("Exemption Ordinance")
granting an economic development ad valorem tax exemption ("Exemption") to Business; and
WHEREAS, the Ordinance and the Exemption Ordinance both provide that the Exemption shall
not be effective until County and Business enter into this Economic Development Ad Valorem Tax
Exemption Agreement ("Agreement").
NOW, THEREFORE, in consideration of the mutual undertakings herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby
agree, as follows:
1. Recitals. The above recitals are true and correct and are incorporated herein.
2. Definitions. Unless otherwise stated, all capitalized terms herein shall have the meaning
set forth in the Ordinance.
3. Business' Representations, Covenants and Warranties. At all times during the term of
the Exemption, Business represents, covenants and warrants to County that: (a) all information submitted
by Business in the Application is, and was at the time of submittal, true and correct, (b) all information
submitted by Business in any annual report submitted pursuant to section 1100.10(b) of the Code will be,
at the time of submittal, true and correct, (c) each representation previously made by Business to County's
Board of County Commissioners in a public meeting was, and each representation made by Business to
County's Board of County Commissioners in the future will be, at the time of such representation, true
and correct, (d) Business will fully perform and remain in full compliance with all Exemption
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Requirements and all requirements of this Agreement, (e) without limitation, Business will establish and
continue to provide all jobs required for Business to qualify as an Expansion of an Existing Business
("Jobs"), (f) without limitation, the average wage paid by Business with respect to the Jobs during each
calendar quarter will be equal to or greater than the average wage represented by Business in the
Application, and (g) Business has not committed and will not commit any Violation of Law (each of
subparagraphs (a) through (f), "Commitment").
4. Annual Status Reports. On or before January 15th of each year, beginning in 2021 and
ending in 2030, the Business shall submit a status report to the County Community Development
Department. At a minimum, the status report shall include the name, address, and contact information of
the current owner and the current operator of the facility to be located at 4155 49h Avenue, Vero Beach,
Florida, 32967 described as lots 2, 3, and 4, Indian River Industrial Center, according to the plat thereof
recorded in Plat Book 23, Page 9, of the Public Records of Indian River County, Florida., a description of
current facility operations, the current total number of facility employees, the current total and average
wages of employees, and a description of any improvements made to the facility during the previous year,
and additional information that County may need to evaluate the company's performance. The status
report shall be signed by the facility owner (or authorized representative) and by the facility operator, and
each signature must be notarized.
5. Violation by Business of Commitment. In the event of a violation by Business of any
Commitment, County may, in its sole discretion, (a) revoke the Exemption, effective immediately, (b)
revoke the exemption, effective as of the date of violation of the Commitment. In such case County, the
Property Appraiser or the Tax Collector shall be entitled to recover all taxes not paid as a result of the
Exemption (after the effective date of such revocation), plus interest, costs of collection and attorney's
fees, as set forth in section 1100.11(b) of the Code, (c) reduce the Exemption, with respect to either the
amount (percentage) or term of the Exemption, or (d) pursue any other remedy available in law or in
equity. Business shall immediately notify County in writing of any facts or events which constitute or
may constitute a violation by Business of any Commitment.
6. No Limitation of County's Rights. Nothing in this Agreement shall be construed as a
restriction or limitation of County's rights as set forth in general law or the Code, including the Ordinance
and the Exemption Ordinance.
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7. County's Right of Inspection. At any time during the term of the Exemption, County
shall have the right to inspect any of Business' books and records to determine Business' compliance with
all Exemption Requirements and all requirements of this Agreement; provided, however, that nothing in
this paragraph shall be interpreted as relieving Business of its obligation to notify County in writing of
any facts or events which constitute or may constitute a violation by Business of any Commitment, as set
forth in paragraph 4 above.
8. Public Records. Business acknowledges that any records made or received by County in
connection with the Exemption are subject to the Public Records Act, Chapter 119, Florida Statutes.
9. Transfer of Property Subject to Exemption. Business shall notify County of any transfer
of real or personal property subject to the Exemption, within thirty (30) days of such transfer.
10. Form of Notice. Any notice hereunder shall be in writing and delivered by (a) certified
mail, return receipt requested, (b) overnight or priority mail, in a form providing proof of receipt, or (c)
hand delivery, with written acknowledgement of receipt by the recipient.
11. Interpretation. This Agreement has been submitted to the equal review and scrutiny of
both parties, and both parties agree that it fairly and accurately sets forth the terms their agreement. In any
dispute between the parties, the Agreement shall be given a fair and reasonable interpretation, without
consideration or weight being given to the fact that it was initially prepared or drafted by any particular
party.
12. Severability. Each provision of this Agreement is deemed to be separate and divisible. If
any provision shall be held invalid, the remaining provisions shall remain in full force and effect.
13. Governing Law. This Agreement shall be governed by and interpreted in accordance with
the laws of the State of Florida.
14. Jurisdiction and Venue. Exclusive jurisdiction for any proceedings arising out of or
relating to this Agreement shall be in the circuit court of the State of Florida. Venue shall be in Indian
River County, Florida.
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15. Attorney's Fees, etc. In any legal proceedings arising out of or relating in any way to this
Agreement, the prevailing party shall recover from the non -prevailing part all fees, costs and expenses,
including, without limitation, reasonable attorney's fees at all trial, appellate and collection levels.
16. Waiver of Jury Trial. EACH PARTY HEREBY KNOWINGLY AND INTEN-
TIONALLY WAIVES TRIAL BY JURY OF ANY ISSUE ARISING OUT OF OR RELATING IN ANY
WAY TO THIS AGREEMENT. ALL SUCH ISSUES SHALL BE RESOLVED BY NON -JURY
TRIAL.
17. Amendment. This Agreement may be amended or modified only by subsequent written
agreement signed by all parties and, with respect to County, approved by County's Board of County
Commissioners.
18. Successors and Assigns. This Agreement shall be binding upon the parties and their
successors and assigns.
IN WITNESS WHEROF the parties hereto have executed this Agreement as of the date first
written above.
BOARD OF COUNTY COMMISSI
PCP Tactical, LLC,
A Delaware Limited Liability Company
By:i
Print Name:�,.�c-c s„
Its Managing Member
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BCC Approved: October 28, 2020
Attest: Jeffrey R. Smith, Clerk of Court and
Comptroller
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Approved as to form and legal sufficiency
an Reingold
County Attorney
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