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HomeMy WebLinkAboutOrdinance No. 05-2016 ORDINANCE NO. 05-2016 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CAPE CANAVERAL, BREVARD COUNTY, FLORIDA; GRANTING AN ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION TO PROJECT ZEUS; PROVIDING AN EXPIRATION DATE FOR THE EXEMPTION; FINDING THAT THE BUSINESS MEETS THE REQUIREMENTS OF SECTION 196.012(15), FLORIDA STATUTES; PROVIDING FOR PROOF OF ELIGIBILITY FOR EXEMPTION; PROVIDING A REQUIREMENT FOR AN ANNUAL REPORT; PROVIDING FOR THE REPEAL OF PRIOR INCONSISTENT ORDINANCES AND RESOLUTIONS,SEVERABILITY AND AN EFFECTIVE DATE. WHEREAS,the City is granted the authority,under Section 2(b),Article VIII,of the State Constitution,to exercise any power for municipal purposes, except when expressly prohibited by law; and WHEREAS, economic development and the creation of jobs are priorities of the City Council of the City of Cape Canaveral; and WHEREAS,the citizens of Cape Canaveral voted to provide economic incentives to new and expanding businesses in the November 3,2009 general election; and WHEREAS, Project Zeus is a medical and management business and has been identified as a Target Industry Business pursuant to section 288.106, Florida Statutes, and is evaluating whether to locate its business operations at 8600 Astronaut Boulevard, Cape Canaveral, Florida 32920; and WHEREAS, Project Zeus has requested that the City of Cape Canaveral exempt ad valorem taxes for its future renovation project and for certain tangible personal property to be constructed and located at 8600 Astronaut Boulevard, Cape Canaveral, Florida 32920; and WHEREAS, the Property Appraiser has provided the City of Cape Canaveral with its report as required by section 196.1995(9), Florida Statutes; and WHEREAS, pursuant to Section 22-33(9) of the City Code, the City of Cape Canaveral Business and Economic Development Board considered Project Zeus's application and recommended approval of this Ordinance to the City Council on October 12, 2016; and WHEREAS, it has been determined that Project Zeus meets the requirements of section 196.012, Florida Statutes, as a new business located in Cape Canaveral; and WHEREAS, the City Council of the City of Cape Canaveral, Florida, hereby finds this ordinance to be in the best interests of the public health, safety,and welfare of the citizens of Cape Canaveral. City of Cape Canaveral Ordinance No.05-2016 Page 1 of 4 NOW,THEREFORE,BE IT ENACTED BY THE CITY COUNCIL OF THE CITY OF CAPE CANAVERAL,BREVARD COUNTY,FLORIDA,AS FOLLOWS: Section 1. Recitals. The foregoing recitals are hereby fully incorporated herein by this reference as legislative findings and the intent and purpose of the City Council of the City of Cape Canaveral. Section 2. Economic Development Ad Valorem Tax Exemption. (a) An economic development ad valorem tax exemption is hereby granted to Project Zeus located in Cape Canaveral, Florida, for building renovation and new personal property. (b) The total amount of revenue available to the City of Cape Canaveral from ad valorem tax sources for the current fiscal year is$3,459,846.60. The City of Cape Canaveral does not lose any money for the current fiscal year by virtue of economic development ad valorem tax exemptions currently in effect from previous years. (c) The estimated taxable value lost to the City of Cape Canaveral for the current fiscal year attributable to the exemption granted to Project Zeus is $3,400,000.00 for improvements to real property and $460,000.00 for personal property. The estimate of the revenue which will be lost to the City of Cape Canaveral during the current fiscal year if the exemption applied for were granted had the property for which the exemption is requested otherwise been subject to taxation is $13,676.75. (d) The tax exemption hereby granted shall be for a term of ten (10) years, commencing with the first year the new improvements and personal property are added to the assessment roll, and lasting nine (9) years thereafter, for One Hundred Percent(100%)of the City ad valorem taxes. (e) In accordance with the findings of the Cape Canaveral City Council and the Brevard County Property Appraiser, the property hereby exempted from ad valorem tax exemption meets the definition of a new business, as defined by section 196.012(15), Florida Statutes. (f) The economic development ad valorem tax exemption is subject to the terms and conditions of Resolution No. 2009-44 and/or other terms and conditions required by the City Council. Section 3. Evidence of Continued Eligibility. (a) Project Zeus shall submit to the City of Cape Canaveral an annual written report providing evidence of continued compliance with the definition of a "new business" or an "expansion of an existing business" for each of the ten (10) years during which Project Zeus is eligible to receive ad valorem tax exemption. The annual report shall be received by the City Council no later than January 31 of each year. (b) If the annual report is not received, or if the annual report indicates that Project Zeus no longer meets the criteria of section 196.012, Florida Statutes, the City Council shall revoke by ordinance this economic development ad valorem tax exemption, re-impose the ad City of Cape Canaveral Ordinance No.05-2016 Page 2 of 4 valorem taxes exempted, and Project Zeus and/or the subject property owner shall be required to make payment of the taxes exempted in addition to interest accrued at the maximum rate allowed by law. (c) If the City Manager or designee receives written notice that Project Zeus has decided not to undertake or complete the new business or expansion of an existing business, including improvements to real property or acquisition of tangible personal property, the exemption granted herein shall be void, shall not take effect and shall not be implemented. If such notice is received,the foregoing provision shall be self-executing and no further action of the City Council will be required to void the granted exemption. Upon the City's receipt of such notice,the City Manager or designee shall forward the notice to the Property Appraiser along with a copy of the this subsection of the Ordinance. Section 4. Repeal of Prior Inconsistent Ordinances and Resolutions. All prior inconsistent ordinances and resolutions adopted by the City Council, or parts of prior ordinances and resolutions in conflict herewith, are hereby repealed to the extent of the conflict. Section 5_ Not Incorporated Into Code. This ordinance shall not be incorporated into the Cape Canaveral City Code. Section 6. Severability. If any section, subsection, sentence, clause, phrase, word or provision of this Ordinance is for any reason held invalid or unconstitutional by any court of competent jurisdiction,whether for substantive,procedural,or any other reason,such portion shall be deemed a separate, distinct and independent provision, and such holding shall not affect the validity of the remaining portions of this Ordinance. Section 7. Effective Date. This Ordinance shall become effective immediately upon adoption by the City Council of the City of Cape Canaveral, Florida and upon the complete execution of an Economic Incentive Agreement between the City of Cape Canaveral and Project Zeus. In the event that an Economic Incentive Agreement is not executed within eighteen (18) months of the adoption of this Ordinance, or notice is received by the City Manager or designee pursuant to Section 3(c)herein,this Ordinance shall automatically be deemed null and void and of no legal effect. [Adoption Page Follows] City of Cape Canaveral Ordinance No.05-2016 Page 3 of 4 ADOPTED by the City Council of the City of Cape Canaveral, Florida, this 15th day of November, 2016. ki • Bob Hoog, Mayo ATTEST: For Against John Bond Motion � is Gofor , CMC Mike Brown x City Clerk Robert Hoog x Brendan McMillin x Betty Walsh Second Approved as to legal form and sufficiency for the Ci,v o Cape Canaveral only by: Anthony A. Garganese, City Attorney City of Cape Canaveral Ordinance No.05-2016 Page 4 of 4