HomeMy WebLinkAbout05-035
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ORDINANCE NO. 05-035
AN ORDINANCE RELA TING TO ST. LUCIE COUNTY,
FLORIDA, TO ENCOURAGE ECONOMIC DEVELOPMENT IN
THE COUNTY ; ESTABLISHING AN EXEMPTION FROM
CERTAIN AD V ALOREM TAXATION FOR ATLANTIC TRUSS
CO. LTD., 2590 N. KINGS HIGHWAY, FORT PIERCE,
FLORIDA, A NEW BUSINESS; PROVIDING THE AMOUNT
OF REVENUE AVAILABLE FROM AD V ALOREM 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 ATLANTIC TRUSS CO. LTD.;
PROVIDING AN EXPIRATION DATE OF THE EXEMPTION
FROM THE DATE ON BOARD ADOPTION OF THIS
ORDINANCE; PROVIDING A FINDING THAT ATLANTIC
TRUSS CO. L TD. 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. 05-035 "Economic Development
Ad Valorem Tax Exemption - Atlantic Truss Co. Ltd."
ARTICLE II
EDWIN M. FRY, Jr., CLERK OF THE CIRCUIT COURT
SAINT LUCIE COUNTY
FilE # 272890910/17/2005 at 02:26 PM
OR BOOK 2392 PAGE 579 - 582 Doc Type: ORDN
RECORDING: $35.50
Procedure
After consideration of the report of the Property Appraiser and in accordance with
the procedure set forth in County Ordinance No. 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 Atlantic Truss Co. Ltd., 2590
N. Kings Highway, Fort Pierce, Florida, in accordance with the following exemption phase out
schedule:
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
100i'0
90i'0
80i'0
70i'0
60i'0
40i'0
20i'0
No exemption shall be granted on the land on which improvements are made by Atlantic
Truss Co. Ltd.
ARTICLE III
Ad Valorem Tax Revenues
Total revenues are available to the County for the current fiscal year from ad valorem
tax sources is $353,135,192.00. Revenues lost to the County for the current fiscal year by
ad valorem tax exemptions under this section currently in effect are $143,165.83. Revenues
to be lost by granting of this exemption for the current fiscal year are estimated to be
$12,091.94.
ARTICLE IV
Expiration Date
The Economic Development Ad Valorem Tax Exemption granted to Atlantic Truss Co.
Ltd., a new business shall be for seven (7) 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 Atlantic
Truss Co. L td is a new business as defined by St. Lucie County Ordinance No. 92-24 and
Section 196.012(15), Florida Statutes. The Board reserves the right to repeal the exemption
if Atlantic Truss Co. Ltd. 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 Frannie Hutchinson
AYE
...
Vice Chairman Doug Coward
AYE
Commissioner Joseph E. Smith
AYE
Commissioner Paula A. Lewis
AYE
Commissioner Chris Craft AYE
PASSED AND DULY ADOPTED this ~ day of Cr:kll~2005.
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