Placement: Second Reading of Ordinances / Public Hearing
Action Requested: Motion / Vote
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Ordinance 20-85, Public Hearing, Approving the Amendment of the Economic Development Ad Valorem Tax Exception Ordinance, Ordinance 20-26, for City Electric Supply.
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Submitted By: Elijah Wooten, Business Navigator
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Executive Summary (General Business): Due to COVID-19 City Electric Supply reduced their workforce by 35 employees from their initial baseline of 210 employees. The company has begun the rehiring process and currently has 198 employees. City Electric Supply is requesting the City Council approve amending the Economic Development Ad Valorem Tax Exemption Ordinance, Ordinance 20-26, to (i) waive the 210 baseline maintenance requirement for 2020; and (ii) extend the time frames otherwise provided in the Ordinance for the creation of 50 new jobs for a period of one year.
Presentation Information: Elijah Wooten, Business Navigator, will make a brief presentation.
Staff Recommendation: Move that the Council approve the amendment of the Economic Development Ad Valorem Tax Exemption Ordinance for City Electric Supply.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the amendment of the Economic Development Ad Valorem Tax Exemption Ordinance for City Electric Supply.
2. Move that the Council not approve amending the Economic Development Ad Valorem Tax Exemption Ordinance for City Electric Supply and provide staff direction.
Background: City Electric Supply received its certificate of occupancy in December 2019 for their TAMCO manufacturing and distribution facility in the Tradition Center for Commerce. The company submitted their Economic Development Ad Valorem Tax Exemption Application to the St Lucie County Property Appraiser's Office in January 2020. At the time of submission, the existing employment was 210 employe...
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