Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 21-R134, A Resolution to Approve a Ten-Year Ad Valorem Tax Exemption for Fed Ex Facility
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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): Approve a ten-year ad valorem tax exemption for fed ex facility.
Presentation Information: Questions will be answered upon request.
Staff Recommendation: Move that the Council approve the Resolution.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the Resolution.
2. Move that the Council not approve the Resolution.
Background: The City Council requested the authority to grant an economic development ad valorem tax exemption pursuant to section 196.1995, Florida Statutes. The request was approved via referendum for a period of ten (10) years and an ordinance outlining the criteria and process for obtaining the ad valorem tax exemption was adopted in December of 2010. A referendum election is being held throughout the City of Port St. Lucie on December 7, 2021, which will be held in conjunction with the City of Port St. Lucie's previously scheduled special election for the purpose of submitting to the City's electors a referendum question as to whether to authorize the City Council to grant economic incentive development ad valorem exemptions to qualifying businesses for another ten (10) years. Section 196.1995(5), Florida Statutes, states the following with regard to the ability to qualify for the exemption, "to qualify for this exemption, the business's improvements to real property must be made or the tangible personal property must be added or increased after approval by motion or resolution of the local governing body, subject to ordinance adoption or on or after the day the ordinance is adopted."
On December 7, 2020, the City Council approved a package of e...
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