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Home My WebLink About03-036ORDINANCE NO. 03-36 AN ORDINANCE RELATING TO ST. LUCIE COUNTY, FLORIDA, TO ENCOURAGE ECONOMIC DEVELOPMENT IN THE COUNTY; ESTABLISHING AN EXEMP3-J:ON FROM CERTAIN AD VALOREM TAXATION FOR MIRABELLA YACHTS, INC., 3170 AIRMANS DRIVE, FORT PIERCE, FLORIDA, A NEW BUSINE55; PROVIDING THE AMOUNT OF REVENUE AVAILABLE FROM AD VALOREM TAX SOURCE5 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 MTRABELLA YACHTS, INC.; PROVIDING AN EXPIRATION DATE OF THE EXEMPTION FROM THE DATE ON BOARD ADOPTION OF THIS ORDINANCE; PROVIDING A FINDING THAT MIRABELLA YACHTS, INC. MEET5 THE DEFINITION OF A NEW BUSINESS; PROVIDING A 5EVERABILITY CLAUSE; PROVIDING AN EFFEC3-~VE bATE BE IT ORDAINED BY THE BOARD OF COUNTY COMMI55IONER5 OF ST. LUCIE COUNTY, FLORIDA: ARTICLE Short Title This Ordinance shall be known os County Ordinance No. 03-36 "Economic Development Ad Valorem Tax Exemption - Mirabella Yachts, ]:nc.. 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 Page 1 of 4 OR BOOK 1817 PAGE 2341 Exemption Regulations of St. Lucia County, Florida", the Board grants and establishes an exemption from ad valorem taxation of the assessed value of Mirabella Yachts, ]:nc., ;3710 Airmans Drive, Fort Pierce, Florida, in accordance with the following exemption phase out schedule: Year 1 (Fiscal Year 2003-04) - 100% Year 2 - 100% Year 3 - 100% Year 4 10070 No exemption shall be granted on the land on which improvements are made by Mirabella Yachts, Inc.. ARTTCLE III Ad Valorem Tax Revenues Total revenues are available to the County for the current fiscal year from ad valorem tax sources is $85,239,570.86. Revenues lost to the County for the current fiscal year by od valorem tax exemptions under this section currently in effect ore $169,864.56. Revenues to be lost by granting of this exemption for the current fiscal year ore estimated to be $12,698.00. ARTICLE TV Expiration Date The Economic Development Ad Valorem Tax Exemption granted to Mirabella Yachts, ]:nc., a new business, shall be for four (4) years from the date of Board adoption of this Ordinance. Page 2 of 4 OR BOOK iBi? PAGE 2542 ARTICLE V Finding The Board of County Commissioners of St. Lucia County, Florida, finds that Mirabella Yachts, Thc. is a new business as defined by St. Luci¢ County Ordinance No. 9;>-?4 and Section 196.012(16), Florida Statutes. The Board reserves the right to repeal the exemption if Mirabella Yachts, Inc. no longer satisfies the criteria set out above. ARTICLE VZ teverability 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 p~ovision and such holdin9 shall not affect the validity of the ~emainin9 portions of this O~dinance. AR~CLE VII Effective Date This O~dinance shall take effect upon ~eceipt of notice of filing fPom the 5ecPeta~y of State. A~CLE VIII Adoption Afte~ motion and second, the vote on this O~dinance was as follows: Page 3 of 4 , OR BOOK 1817 PABE 2345 Chairman Cliff Barnes AYE Vice Chairman Paula Lewis AYE Commissioner Fronnie Hutchinson AYE Commissioner John Bruhn AYE Commissioner Doug Coward AYE PASSED AND DULY ADOPTED this Z6th day of September, 2003. ATTEST: Dep~ I~k BY: BOARD OF COUNTY COMMT55~ONER5 ST. LUCIE COUNTY, ~ APPROVED A5 TO 'FO~M-~ND _ BY: C OI~ECTNE$$:~.~-~ County ~/l~y &: \A TTY\ORDNANCE\2003 \O3- 36.wpd Pa~e 4 of 4