Fort Walton Beach Resolution — 82-23-RDA Tax Credit Program — reading text

© ) RESOLUTION NO. %2-23 A RESOLUTION OF THE CITY OF FORT WALTON BEACH, FLORIDA DETERMINING THAT CERTAIN PROJECTS OF THE FORT WALTON BEACH REDEVELOPMENT AGENCY ARE CONSISTENT WITH THE GENERAL PLANS OF THE CITY AND ENCOURAGING THE FWB RDA TO SEEK ELIGIBILITY DESIGNATION FOR CONTRIBUTIONS UNDER THE COMMUNITY IMPROVEMENT ACT OF 1980, CHAPTER 80-249, LAWS OF FLORIDA, AND PROVIDING THE EFFECTIVE DATE HEREOF WHEREAS, the 1980 Florida Legislature, responding to the need to revitalize the economics of Florida distressed areas, passed a series of bills that created substantial tax benefits to firms paying Florida corporate income taxes who invest their resources in such de- clining areas; and WHEREAS, the Department of Veteran and Community Affairs on July 1, 1981 determined that the downtown area met the distressed designation of a declining area (Attachment "A"); and WHEREAS, the Fort Walton Beach Redevelopment Agency desires to participate in the Community Contribution Tax Credit Act (Chapter 80-249, Laws of Florida) which is designed to encourage private businesses to participate in the revitalization of economically distressed areas by allowing firms a 50 percent credit on their Florida income tax for dona- tions to local community development projects; and WHEREAS, the Department of Veteran and Community Affairs has developed rules to effectuate the provisions of Chapter 80-249, Laws of Florida; specifically that the City Council make a finding that certain projects are consistent with the general plans of the City; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA that SECTION I. The following projects: site acquisition, reloca- tion, demolition, construction of new facilities, parking facilities, ae infrastructure repair/installation, structural rehabilitation, landscaping, and street lighting projects by the FWB RDA are activities that are consistent with the plans of the City. — SECTION II. Legitimate administrative activities of the FWB RDA that are consistent with the plans of the City include, but are not limited to, such items as legal services, office space rental, furniture, equipment, plan development, and staff support and subsistence. SECTION III. That the Department of Veteran and Community Affairs should declare the projects listed in Sections I. and II. of this resolution as projects eligible for donations under the provisions of Chapter 80-249, Laws of Florida. SECTION IV. That this resolution, being of administrative nature, shall take full force and effect immediately upon its passage and approval by the Mayor. APPROVED L2)04, 25) LP OO MAYOR. ATTEST: Atel KE Charles H. Evans, City Clerk-Finance Director ¢ The form and legal sufficiency of the foregoing has been reviewed and approved by the City Attorney. _I>- neces | C Nene D. Michael Chesser ~ vd NOTLISOdSIG Re easton: