Okaloosa County BOCC — January 8, 2013 — UpUnder Ordinance — reading text

ORDINANCE NO. _ AN ORDINANCE GRANTING AN ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION TO PROJECT UPUNDER, DESTIN, FLORIDA, FOR SPECIFIED IMPROVEMENTS AND 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 UPUNDER, DESTIN, FLORIDA , for those improvements to real property and 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 10 years commencing with the taxes for the year 2015 and ending with the taxes for the year 2024. 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 business or an expansion of an existing business. SECTION 5. The tax exemption hereby granted shall only be for the improvements to and 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 19th day of February, 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