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Home My WebLink About2021-007ORDINANCE NO. 2021- 007 AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, CREATING A NEW SECTION 1100.16 (ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION GRANTED TO DIAMOND DRINKS OF FLORIDA, INC. ('BUSINESS")) OF CHAPTER 1100 (ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION) OF TITLE XI (ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION) OF THE CODE OF INDIAN RIVER COUNTY GRANTING AN ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION TO DIAMOND DRINKS OF FLORIDA, INC.; MAKING FINDINGS AND PROVIDING FOR SEVERABILITY, CODIFICATION AND AN EFFECTIVE DATE. WHEREAS, Title XI of the Code of Indian River County, entitled 'Economic Development Ad Valorem Tax Exemption Ordinance,' authorizes the Board of County Commissioners to grant economic development ad valorem tax exemptions ('Exemption") to certain new or expanding businesses; and WHEREAS, Section 193.1995(11), Florida Statutes, requires that any action of the Board granting an Exemption to a crew or expanding business be set forth in an ordinance; and WHEREAS, the Board has determined that all prerequisites to the gmntng of an Exemption to Diamond Drinks of Florida, Inc have been mel, and the granting of such Exemption will promote and strengthen the local economy and thereby enhance the heats, 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 e6eetive; and on November 3, 2020, a majority of voters in Indian River County voted in favor of continuing such authority. ORDINANCE NO. 2021- 001 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 Diamond Emnks of Florida, Inc. 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 Exemptionl. New language indicated by underline, and clelated language indicated by shikethreugH. Section 1100.16 of Chapter 1100 (Economic Development Ad Valorem Tex Exemption) of the Code of Indian River County, Florida, is hereby created to mad as follows: CHAPTER 1100 - ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION 11* Section 110016 Economic Development Ad Valorem Tax Exemption Granted to Diamond Drinks of Florida, Inc. PBusinesel. (1) An economic develoopuent ad valorem fax exemption is hereby granted to Business whose irdliessr; is 7355 V Stneet SW Vem Beach FL 32958. The exemption shall apply to Its new tanalble personal property related to its new business to be located at 7355 90 Street SW Vero Beach FL 32968, described as the west M of Tract 4 Section 30 Township 33 South, Raiwe 39 East, accord no to the last genemal plat of lands at Indian River Farms Company filed in the officei of the Cledr of Circuit Court of SL Lucie County, Flonda in Plat Book 2 Page 25 Public Records of SL Luce County. Florida said land now Iving and be"beina in Indian River County, Florida This pt' shall apply only to new tainallble Personal property described iBusiness'Application for h examption. (2) The exemptlonshall be for a temn of e years commencing with the first th near improvements or new tangible Personal Property are added tithe assessment roll. The amount of the exemption shall be a specified percentage of county ad valorem taxes for the General Fund Municipal Services Taxing Unita. and Ememenw Services Dist let which vioulicl otheradire be due with respect to the nev Improvements or near tangible rN in the b of the exemption The approved exemption percentages are, as follows: Year 1 (January 1. 21W tax ro10....... 100% Year 2 (January 1. 2023 tax roll) .......100% Year 3 (January 1. 2024 tax roll) .......90% ORDINANCE NO. 2021- 007; Year 4 (January 1. 2025 tsx Year 5 (January 1 2028 tax roll) 80% Year fi (January 1 2027 tax roll) 40% Year 7 (January 1. 2028 tax roll) .......20% Year 8 (January 1 2029 tax roll) .......10% (3) On or belare January 15'^ of each vasr. beginning In 2022 Diamond Dr nits of Florida, I hall submit to the County Community Develoomant Department an annual rt providlixt evidence M confinued compliance with the definition M an mandino business d the Indian River County Ad Valorem TaX AbateM ADD[ catiScorim Guidelines used to set the tiMao t forth abovefor h of the M years dudno which Diamond Drinks of Florida Int.'s eligible to receive ad valorem tax axemct'on If the annual report's not recelved. or If the annual reportindicates Diamond Prinks f Florida, longer meels the criteria fF54196012f15) meets the Indian River County Ad Valorem Tax Abatement AI' tis Scoring Guidelines lid to setthe perroardmes set forth above, the County Community Development Director shat make a report to the Board of County Commissioners for consideration f wocarion or reduction of the tax examption rnwarced under this cti (4) The total amount of revenue available to the County from ad valorem tax sources for the current fiscal war Is$119798352'the total amount of revenue lost to the County for the t fiscal war by virtueat economic development ad valorem tax emmpdonsMI effect' $0- and the esti aced revenue IoN to the County for the t fiscal tbib table to the ecremption aranted in this p'on is $0 The estimated revenue loss to the County for fiscal year 2022 ii $11.387.89. (5) The eassimplionshall be submitigi to all Provisions set forth in ect' 1100.01 throutilt 110013 Without limilation. the continuation of the vtio shall b condwentupon Business'compliance with section 110010 reletina to"COM!ntin Performance! (8) The Board specificaly finds that Rusiness meets the I nts of sectio 198.012(151. Florida Statutes. Section 4. Severability. If any part of this ordinance Is held to be invalid or unconstitutional by a court of competerltjudsdiction, the remainder of this ordinance shall not be affected by such holding and shall remain in full force and effect. Section S. Codification. It is the intention of the Board of County Commissioners that Me provision ofthis 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 may be changed to section, article or such other appropriate word or phrase In order to accomplish such intention. ORDINANCE NO. 2021- 007 Section 6. 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 Indian River Press Journal on the 17 day of March , 2021, for a public hearing to be held on the 30th day of March, 2021, at which time it was moved for adoption by Commissioner Peter D. O'sryaa seconded by Commissioner Joseph E. Flescher , and adopted by the following vote: Chairman Joseph E. Flescher AYE Vice Chairman Peter D. O'Bryan AYE Commissioner Susan Adams AYE Commissioner Joseph H. Earman AYE Commissioner Laura Moss AYE The Chairman thereupon declared the ordinance duly passed and adopted this3o day of March, 2021. BOARD OF COUNTY COMMISSIONERS OF INDIAN RI�I I��s•.. COUNTY, FLORI J�4 :�j�a,.... • ••sioy�,� By: .e-�seofi E. Flescher, Chair mlkr? A . - . ATTEST: Jeffrey R. Smith, Clerk ` '••;9.y£gc and Comptroller By. Deputy Clerk � st EFFECT VE DATE: This Ordinance was filed with the Department of State on the day of 2021. Approved as to form and legal sufficiency Dylan Reingold County Attorney FACommunity Development\Users\EDplannr\INCENTIVES & FUNDTNGITax Abatemenls\Applications\Diamond Drinks\ORDINANCEIFINAL Tax Exemp Ordinance 2021 - Revised 3-10-21.docx