Okaloosa County BOCC — December 18, 2012 — reading text

targeted industry proposing to create high-wage job opportunities in the manufacturing industry; and WHEREAS, Project Machine will pay salaries considerably above the base wage of the County and sells their products to customers around the world; and WHEREAS, Project Machine is considering an expansion of 15 full time employees through the 2013 time frame and will commit to pay an average wage of $50,750 which is at least 143% of the average wage in Okaloosa County; and WHEREAS, it is understood by the county that local participation is required and understood for the QTI Tax Refund Program. NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BOARD OF OKALOOSA COUNTY, FLORIDA that the Board hereby recommends Project Machine be approved as a Qualified Business pursuant to S.288-106, Florida Statutes for the creation of 15 new jobs. BE IT FURTHER RESOLVED that the necessary commitment of local financial support for the Qualified Target Industry Tax Refund Program will be made available via county ad valorem tax exemption, as authorized under Section 196.1995 Florida Statutes. The County has authorized a tax exemption for Project Machine for a term of 5 years as provided by the aforesaid statute. This resolution shall take effect immediately upon its adoption. DULY ADOPTED BY THE GOVERNING BOARD OF OKALOOSA COUNTY, FLORIDA this _____ day of ______, 2013. Okaloosa County, Florida Board of County Commissioners ___________________________________ Don Amunds, Chairman ATTEST: _________________________________ Don Howard, Clerk of Courts Packet Pg. 14  5.2.c Exhibit B ORDINANCE NO. _ Attachment: Exhibit B - Project Machine Ordinance - Proposed (1322 : Public Hearing for Consideration of Economic Ad Valorem Tax AN ORDINANCE GRANTING AN ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION TO PROJECT MACHINE LOCATED IN HOLT, FLORIDA, FOR SPECIFIED ITEMS OF PERSONAL PROPERTY IN OKALOOSA COUNTY, FLORIDA; SPECIFYING THE ITEMS EXEMPTED; PROVIDING THE EXPIRATION DATE OF THE EXEMPTION; FINDING THAT THE PROPOSED BUSINESS MEETS THE EXEMPTION REQUIREMENTS OF CHAPTER 196, FLORIDA STATUTES; PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF OKALOOSA COUNTY, FLORIDA: SECTION 1. An Economic Development Ad Valorem Tax exemption is hereby granted to PROJECT MACHINE, HOLT, FLORIDA , for those items of tangible personal property described in the Application For Economic Development Tax Exemption, a copy of which is attached hereto and by reference made a part hereof. SECTION 2. The amount of revenue available from ad valorem tax sources, the revenue lost because of economic development ad valorem tax exemptions currently in effect, and the amount of estimated revenue which will be lost because of the exemption hereby granted are in accordance with Paragraphs I, II, III, and IV of the Property Appraiser’s findings on the attached Application For Economic Development Tax Exemption. SECTION 3. The tax exemption hereby granted shall be for a term of 5 years commencing with the taxes for the year 2014 and ending with the taxes for the year 2018. SECTION 4. In accordance with the findings of the Property Appraiser, the property hereby exempted meets the definition, as defined by Section 196.012, Florida Statutes, of a new Packet Pg. 15  5.2.c Exhibit B business or an expansion of an existing business. Attachment: Exhibit B - Project Machine Ordinance - Proposed (1322 : Public Hearing for Consideration of Economic Ad Valorem Tax SECTION 5. The tax exemption hereby granted shall only be for the tangible personal property located on the real property described in the Application attached hereto. SECTION 6. This Ordinance shall take effect upon receipt of official acknowledgment from the Department of State of the State of Florida that it has been filed and does hereby repeal all Ordinances or provisions thereof in conflict herewith. PASSED AND ADOPTED in regular session on this the ____ day of January 2013. OKALOOSA COUNTY, a political Subdivision of the State of Florida By:__________________________ DON AMUNDS, CHAIRMAN BOARD OF COUNTY COMMISSIONERS ATTEST: _____________________ DON W. HOWARD CLERK OF THE CIRCUIT COURT Packet Pg. 16  5.2.d Exhibit C Property Appraiser Exhibit "A" Project Machine; County Abatement (10-Year Duration) Attachment: Exhibit C - Project Machine PA Calculations (1322 : Public Hearing for Consideration of Tax Year Start: 2014 Total Equip Cost Estimate Annual Annual Cumulative Tax Amounts 869,362 Assessment Tax Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 2014 Taxable Value (100% of Asmt) 788,563 8,663 8,663 2015 Taxable Value (100% of Asmt) 709,025 7,789 16,452 2016 Taxable Value (100% of Asmt) 612,687 6,731 23,183 2017 Taxable Value (100% of Asmt) 541,146 5,945 29,128 2018 Taxable Value (100% of Asmt) 476,836 5,238 34,367 2019 Taxable Value (100% of Asmt) 429,345 4,717 39,083 2020 Taxable Value (100% of Asmt) 354,611 3,896 42,979 2021 Taxable Value (100% of Asmt) 296,551 3,258 46,237 2022 Taxable Value (100% of Asmt) 247,423 2,718 48,955 2023 Taxable Value (100% of Asmt) 220,403 2,421 51,377 2014 Taxable Value (70% of Asmt) 551,994 6,064 6,064 2015 Taxable Value (70% of Asmt) 496,318 5,452 11,517 2016 Taxable Value (70% of Asmt) 428,881 4,712 16,228 2017 Taxable Value (70% of Asmt) 378,802 4,161 20,390 2018 Taxable Value (70% of Asmt) 333,785 3,667 24,057 2019 Taxable Value (70% of Asmt) 300,542 3,302 27,358 2020 Taxable Value (70% of Asmt) 248,228 2,727 30,085 2021 Taxable Value (70% of Asmt) 207,586 2,281 32,366 2022 Taxable Value (70% of Asmt) 173,196 1,903 34,269 2023 Taxable Value (70% of Asmt) 154,282 1,695 35,964 2,599 4,936 6,955 8,738 10,310 11,725 12,894 13,871 14,687 15,413 Cumulative Tax Savings 2,337 2,019 1,783 1,572 1,415 1,169 977 815 726 Considerations 1. 2012 Millage Rates Applied Max at $262 Total: 10.9859 County: 3.2899 2. 2012 index rates applied 3. No change to 2014 millage rate 4. Equipment purchased in 2013 Packet Pg. 17  Exhibit C 5.2.d Packet Pg. 18 Attachment: Exhibit C - Project Machine PA Calculations (1322 : Public Hearing for Consideration of  Exhibit D 5.2.e Packet Pg. 19 Attachment: Exhibit D - Project Machine DR-418 (1322 : Public Hearing for Consideration of Economic Ad Valorem Tax Exemption)  5.2.f Packet Pg. 20 Attachment: Exhibit E - Public Notice.pdf (1322 : Public Hearing for Consideration of Economic Ad Valorem Tax Exemption)  5.2.f Packet Pg. 21 Attachment: Exhibit E - Public Notice.pdf (1322 : Public Hearing for Consideration of Economic Ad Valorem Tax Exemption)  5.3 BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST DATE: February 5, 2013 TO: Honorable Chairman and Members of the Board FROM: Elliot Kampert SUBJECT: Public Hearing Federal Transit Administration FY 2013 Application and POP DEPARTMENT: Growth Management BCC DISTRICT: All STATEMENT OF ISSUE: The Growth Management