Placement: Second Reading of Ordinances / Public Hearing
Action Requested: Motion / Vote
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Ordinance 22-70, Public Hearing, Adoption of an Ordinance Approving the Economic Development Ad Valorem Tax Exemption for FedEx Ground Package System, Inc.
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Submitted By: Elijah Wooten, Economic Development Administrator.
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Executive Summary (General Business): FedEx Ground Package System, Inc. ("FexEx") completed the construction of their new 245,000 square foot regional sortation facility and received their certificate of occupancy in November 2021. The St. Lucie County Property Appraiser deemed FedEx's regional sortation facility as significantly complete in December 2021. The company submitted their Economic Development Ad Valorem Tax Exemption application to the City, County and the Property Appraisers Office in March 2022. The Property Appraiser's Office prepared a financial analysis report and submitted it to the City for review pursuant to section 115.04(3)(a) of the City's Economic Development Ad Valorem Tax Exemption Regulations.
Presentation Information: A brief presentation will be provided by Elijah Wooten, Economic Development Administrator.
Staff Recommendation: Move that the Council adopts an ordinance approving the Economic Development Ad Valorem Tax Exemption for FedEx pursuant to section 115.06 of the City's Code.
Alternate Recommendations:
1. Move that the Council amend the recommendation and provide staff direction.
2. Move that the Council not approve adopting an ordinance for FedEx's Ad Valorem Tax Exemption.
Background: In December 2020 the City Council approved incentives to attract the expansion of FedEx's Regional Sortation Facility to the City of Port St. Lucie. The incentive package included impact fee mitigation, Economic Development Ad Valorem Tax Exemption, expedited site plan review and permitting. FedEx selected Port St. Luc...
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