Subject:
Title
Legislative intent and permission to advertise an Ordinance rescinding selected companies' economic development ad valorem tax exemption
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Fiscal Impact:
The fiscal impact of this request is the cost to advertise the Public Hearing for the Board's consideration of the Ordinance.
Dept/Office:
County Manager
Requested Action:
Recommendation
It is requested that the Board of County Commissioners approve legislative intent and grant permission to advertise an Ordinance rescinding Economic Development Tax Exemption for selected companies that no longer qualify for the County's Economic Development Ad Valorem Program.
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Summary Explanation and Background:
The Brevard County Economic Development Ad Valorem Tax Exemption Program requires that all companies participating in this Program maintain its eligibility each year. The County reviews each company's eligibility through the company's annual reports filed with the County. These Reports provide the following information: tangible personal property added, the type of business, total sales in Florida and elsewhere, and the number of employees employed by the company in Brevard County. The County also reviews Federal or State employment information and the information obtained in the records of the Property Appraiser's Office and weather an ad valorem exemption was applied to the company's property.
During the County's review of the companies annual reports, it was determined that the following companies no longer qualify under the guidelines of the Program as outlined in the County Code of Ordinances:
* Diamondback Manufacturing CNC, LLC, the Company has not created the jobs that they represented in their application for an ad valorem tax exemption.
* East Coast Paper Stock, Inc, the Company has not created the jobs that they represented in their application for an ad valorem tax exemption.
* Merritt Island Boat Works, Inc., the Company has not created the jobs that they represented in t...
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