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File #: 4855   
Type: Consent Status: Adopted
File created: 7/20/2022 In control: County Manager
On agenda: 8/16/2022 Final action: 8/16/2022
Title: Resolution to Amend the Economic Development Tax Abatement Program Guidelines
Attachments: 1. EDC - Wage Resolution - 2022.pdf, 2. EDC Memo .pdf, 3. EDC Guidelines.pdf, 4. EDC Avg Wage.pdf, 5. EDC AVTAC Mtg Min 3-10-22.pdf

Subject:

Title

Resolution to Amend the Economic Development Tax Abatement Program Guidelines

End

Fiscal Impact:

There is no fiscal impact associated with this request.

Dept/Office:

County Manager’s Office

Requested Action:

Recommendation

It is requested that the Board of County Commissioners adopt a Resolution amending the guidelines for the Economic Development Tax Abatement Program as recommended by the Economic Development Commission (EDC) of Florida’s Space Coast.

End

Summary Explanation and Background:

The Ad Valorem Tax Abatement (AVT) Council of the Economic Development Commission of Florida’s Space Coast is recommending to revise the Brevard County Ad Valorem Tax Abatement program guidelines to reflect the 2018 Brevard County average wage of $49,128 that was effective on January 1, 2020, as published by Enterprise Florida, Inc.  Enterprise Florida, Inc. utilizes the most currently published wage figures from the Florida Department of Economic Opportunity, Labor Market Statistics Center.

 

This average wage ($49,128) would replace the current average wage ($42,904) that is in the Brevard County Ad Valorem Tax Abatement program guidelines.

 

The request and back-up documents from the EDC is attached.

Clerk to the Board Instructions:

Attached Resolution to be signed by Board Chair and Clerk of Court.