HomeMy WebLinkAboutOrdinance No. 12-2012 ORDINANCE NO. 12-2012
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
CAPE CANAVERAL, BREYARD COUNTY, FLORIDA;
GRANTING AN ECONOMIC DEVELOPMENT AD
VALOREM TAX EXEMPTION TO OXYSONIX
CORPORATION;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,Oxysonix Corporation, 11 Riverside Drive, Suite 206,Cocoa,Florida,which
is in the business of researching and developing clean fuel technology, has requested that the City
of Cape Canaveral exempt ad valorem taxes for its renovation project and for certain tangible
personal property; 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, it has been determined that Oxysonix Corporation 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.
NOW,THEREFORE,BE IT ENACTED BY THE CITY COUNCIL OF THE CITY
OF CAPE CANAVERAL,BREYARD COUNTY,FLORIDA,AS FOLLOWS:
City of Cape Canaveral
Ordinance No. 12-2012
Page 1 of 3
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 Oxysonix
Corporation 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 $3,351,528.70. 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 Oxysonix Corporation is$85,000.00 for improvements
to real property and $1,562,800.00 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
$6,591.20.
(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 2009-44 and/or other terms and conditions required by the City Council.
Section 3. Evidence of Continued Eligibility.
(a) Oxysonix Corporation shall submit to the City of Cape Canaveral an annual 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 Oxysonix
Corporation 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 Oxysonix
Corporation 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,reimpose the ad valorem
taxes exempted,and Oxysonix Corporation shall be required to make payment of the taxes exempted
City of Cape Canaveral
Ordinance No. 12-2012
Page 2 of 3
in addition to interest accrued at the maximum rate allowed by law.
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 Oxysonix Corporation.
ADOPTED by the City Council of the City of Cape Canaveral,Florida,this 17th day of July,
2012. -. &a2 cif ��'1
Betty W , Mayor Pro Tem
ATTEST: p, _l• ,,**o �•• For Against
y, "ti { John Bond _X
AN 0•4/41:
ELA APPERSON, City Clerk Bob Hoog 2nd
Buzz Petsos Motion
Rocky Randels Absent
Betty Walsh _X
First Reading: June 19,2012
Legal Ad published: June 25,2012
Second Reading: July 17,2012
Approved . is legal form and sufficiency
for the 'ty • Cape Canaveral only by:
/1
ANTHONY A. GARGANESE, City Attorney
City of Cape Canaveral
Ordinance No. 12-2012
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