Okaloosa County BOCC — February 16, 2016 — Amended Ordinance for Project Veterans Pride v 2

ORDINANCE NO. 16-____ AN ORDINANCE OF THE BOARD OF COUNTY COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA AMENDING ORDINANCE NO. 16-01 WHICH GRANTED AN ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION TO PROJECT VETERAN’S PRIDE; AMENDING THE AMOUNT OF THE EXEMPTION; AMENDING THE ADDRESS WHERE THE BUSINESS WILL BE LOCATED; FINDING THAT THE BUSINESS MEETS THE REQUIREMENTS OF SECTION 196.012, FLORIDA STATUTES; PROVIDING FOR PROOF OF ELIGIBILITY FOR EXEMPTION; PROVIDING SEVERABILITY; PROVIDING FOR INCLUSION IN THE COUNTY CODE OF ORDINANCES; PROVIDING AN EFFECTIVE DATE. WHEREAS, economic development and the creation of jobs within Okaloosa County are a priority of the Board of County Commissioners of Okaloosa County (the “Board”); and WHEREAS, on August 26, 2014, pursuant to section 196.1995, Florida Statutes, the voters of Okaloosa County authorized the Board to grant property tax exemptions to new businesses and expansion of existing businesses for economic development purposes (“Economic Development Ad Valorem Tax Exemption”); and WHEREAS, Project Veteran’s Pride (the “Company”) previously submitted an application for an Economic Development Ad Valorem Tax Exemption which was approved by the Board through the adoption of Ordinance 16-01; and WHEREAS, the Company, based upon more favorable economic circumstances, has determined to locate to a different site within Okaloosa County but outside of the City of Fort Walton Beach; and WHEREAS, this change in location would modify both the information contained within the application and the extent of improvements that would be invested as part of the expansion of the business; and WHEREAS, based upon the review of the information, it has been determined that the Company would still meet the requirements of section 196.012(15), Florida Statutes; and 1  WHEREAS, section 196.1995(11), Florida Statutes, requires that any action of the Board granting an Ad Valorem Tax Exemption to a new or expanding business be established by an ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA: Section 1. RECITALS. The Recitals set forth above are incorporated as part of this Ordinance. Section 2. ENACTMENT AUTHORITY. Pursuant to Article VII, Section 3 of the Constitution of the State of Florida, and section 196.1995, Florida Statutes, the County is empowered to grant Economic Development Ad Valorem Tax Exemptions after the electors of the County, voting on the question in a referendum, authorize such exemptions. In a referendum held on August 26, 2014, the voters of Okaloosa County authorized the Board to grant Economic Development Ad Valorem Tax Exemptions to new businesses and expansions of existing businesses for economic development purposes. Section 3. GRANT OF ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION. A. This Economic Development Ad Valorem Tax Exemption is hereby granted to the Company for its potential new business location at 656 Lovejoy Road, Fort Walton Beach 125 Lovejoy Road, Fort Walton Beach, Florida (the “Property”) for its new construction and tangible personal property added or increased on or after the date of this Ordinance. No exemption shall be granted on the land upon which the improvements are made. Such Economic Development Ad Valorem Tax Exemption shall only be applicable to County taxes. B. The total amount of revenue available to the County from ad valorem tax sources, revenue lost to the County for the current Tax Year by virtue of economic development Ad Valorem Tax Exemptions previously granted, and the amount