Subject:
Title
Permission to Advertise for Public Hearing on Ordinance to repeal the Economic Development Ad Valorem Tax Exemption for BK Technologies, Inc.
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Fiscal Impact:
The fiscal impact associated with this action is the administrative cost to place the Notice of Intent on the County’s Public Notice webpage.
Dept/Office:
County Manager
Requested Action:
Recommendation
It is requested that the Board of County Commissioners grant permission to advertise for a Public Hearing to consider adopting an Ordinance repealing the Economic Development Ad Valorem Tax Exemption for BK Technologies, Inc.
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Summary Explanation and Background:
On May 7, 2019, the Board of County Commissioners granted BK Technologies, Inc., an ad valorem tax exemption for a period of eight (8) years and eighty percent (80%) on real and tangible property added to the County’s assessment roll. In order to remain eligible for the County’s Ad Valorem Tax Exemption Program, BK Technologies, Inc., would need to maintain their eligibility as set forth in Ordinance 2019-010.
On January 8, 2024, a certified letter was provided to BK Technologies, Inc. requesting the submission of their 2023 Annual Report no later than March 1, 2024. BK Technologies, Inc. failed to provide their annual report as required in Section 1(e) of Brevard County Ordinance 2019-010. On March 18, 2024, a certified letter was sent to BK Technologies, Inc. notifying them that the Board of County Commissioners would consider rescinding their Economic Development Ad Valorem Tax Exemption based upon their failure to provide evidence of continued compliance with Ordinance 2019-010 and Florida Statute 196.012(15).
Approval of this Agenda Item would provide for legislative intent to hold a public hearing to consider repealing the Economic Development Ad Valorem Tax Exemption granted to BK Technologies, Inc., under Brevard County Ordinance 2019-010.
Clerk to the Board Instructions: