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ORDINANCE NO. 06-029
AN ORDINANCE RELATING TO ST. LUCIE COUNTY,
FLORIDA TO ENCOURAGE ECONOMIC DEVELOPMENT IN
THE COUNTY; ESTABLISHING AN EXEMPTION FROM
CERTAIN AD VALOREM TAXATION FOR CABINET
CONNECTION OF THE TREASURE COAST, INC., 740 N.W.
ENTERPRISE DRIVE, PORT ST. LUCIE, FLORIDA, A NEW
BUSINESS; PROVIDING THE AMOUNT OF REVENUE
AVAILABLE FROM AD VALOREM TAX SOURCES FOR THE
CURRENT FISCAL YEAR AND THE AMOUNT OF
ESTIMATED REVENUE FROM THE CURRENT FISCAL YEAR
WHICH WOULD BE LOST BECAUSE OF THE EXEMPTION
GRANTED TO CABINET CONNECTION OF THE TREASURE
COAST, INC.; PROVIDING AN EXPIRATION DATE OF THE
EXEMPTION FROM THE DATE OF BOARD ADOPTION OF
THIS ORDINANCE; PROVIDING A FINDING THAT
CABINET CONNECTION OF THE TREASURE COAST, INC.
MEETS THE DEFINITION OF A NEW BUSINESS;
PROVIDING A SEVERABILITY CLAUSE; PROVIDING AN
EFFECTIVE DATE
BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF ST.
LUCIE COUNTY, FLORIDA:
ARTICLE I
Short Title
This Ordinance shall be known as County Ordinance No. 06-29 "Economic Development
Ad Valorem Tax Exemption - Cabinet Connection of the Treasure Coast, Inc.
ARTICLE II
Procedure
After consideration of the report of the Property Appraiser and in accordance with
the procedure set forth in County Ordinance 92-24, "Economic Development Ad Valorem Tax
Exemption Regulations of St. Lucie County, Florida", the Board grants and establishes an
exemption from ad valorem taxation of the assessed value of Cabinet Connection of the
Treasure Coast, Inc., 740 N.W. Enterprise Drive, Port St. Lucie, Florida, in accordance with
the following exemption phase out schedule:
Year 1 (Fiscal Year 06-07)
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 8
100'Yo
90 'Yo
80 'Yo
70 'Yo
60 'Yo
50 'Yo
40 'Yo
30'Yo
"
Year 9 20'Yo
No exemption shall be granted on the land on which improvements are made by Cabinet
Connections of the Treasure Coast, Inc.
ARTICLE III
Ad Valorem Tax Revenues
Total revenues are available to the County for the current fiscal year from ad valorem
tax sources is $151,373,876.85. Revenues lost to the County for the current fiscal year by
ad valorem tax exemptions under this section currently in effect are $568,122.29. Revenues
to be lost by granting of this exemption for the current fiscal year are estimated to be
$14,433.36.
ARTICLE IV
Expiration Date
The Economic Development Ad Valorem Tax Exemption granted to Cabinet Connection
of the Treasure Coast, Inc. for a new business, shall be for 9 years from the date of Board
adoption of this Ordinance.
ARTICLE V
Finding
The Board of County Commissioners of St. Lucie County, Florida, finds that Cabinet
Connection of the Treasure Coast, Inc. is a new business as defined by St. Lucie County
Ordinance No. 92-24 and Section 196.012(16), Florida Statutes. The Board reserves the
right to repeal the exemption if Cabinet Connection of the Treasure Coast, Inc. no longer
satisfies the criteria set out above.
ARTICLE VI
Severability
If any section subsection, paragraph, sentence, clause, phrase, or portion of this
Ordinance is for any reason found void, invalid, unlawful, or unconstitutional by any court of
competent jurisdiction, such portion shall be deemed a separate, distinct, independent, and
severable provision and such holding shall not affect the validity of the remaining portions
of this Ordinance.
ARTICLE VII
Effective Date
This Ordinance shall take effect upon receipt of notice of filing from the Secretary
of State.
ARTICLE VIII
Adoption
After motion and second the vote on this ordinance was as follows:
Chairman Doug Coward
Vice Chairman Chris Craft
Commissioner Paula A. Lewis
Commissioner Frannie Hutchinson
AYE
AYE
AYE
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Commissioner Joseph E. Smith
ABSENT ,'J' (L" ;'
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ATTEST:
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;ry COMMISSIONERS'
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AIRMAN
APPR01 D AST. 0 FORM AND
COR CTNESS:
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