§ 102-194. Ad valorem tax exemption—Harris Corporation.

(a)

An economic development ad valorem tax exemption is hereby granted to Harris Corporation, Lots 1, 2, and 3, block 5, Port Malabar Industrial Park, according to the plat thereof recorded in Plat Book 13, Page 103 of the Public Records of Brevard County, Florida, for its new construction and new tangible personal property.

(b)

The total amount of revenue available to the county from ad valorem tax sources for the current fiscal year is $201,512,055.35. $206,775.76 is lost to the county for the current fiscal year by virtue of exemptions currently in effect from previous years.

(c)

The tax exemption hereby granted shall be for a term of ten years commencing with the first year the new facility and tangible personal property are added to the assessment roll, and lasting ten years thereafter, for 100 percent of county ad valorem taxes.

(d)

In accordance with the findings of the board of county commissioners and the property appraiser, the property hereby exempted from ad valorem tax exemption meets the definition of an expanding business, as defined by F.S. § 196.012.

(e)

Harris Corporation shall submit to the county manager, at the beginning of each year, an annual report providing evidence of continued compliance with the definition of an expanding business for each of the ten years during which Harris Corporation is eligible to receive ad valorem tax exemption. If the annual report is not received, or if the annual report indicates Harris Corporation no longer meets the criteria of F.S. § 196.012, the county manager shall make a report to the board of county commissioners for consideration of revocation of this section granting the tax exemption.

(f)

If the county manager or his designee receives written notice from the company that [the] company has decided not to undertake or complete the construction activity or equipment purchase giving rise to the exemption granted under this division, the exemption provided for in this section shall not take effect and shall not be implemented. If such a notice is received, the foregoing provision shall be self-executing and no further action of the board of county commissioners will be required. Upon the county's receipt of any such notice, the notice shall also be forwarded to the property appraiser along with a copy of this subsection of the ordinance.

(g)

If the exemption does take effect, the board of county commissioners may revoke this section due to the company's failure to demonstrate continued compliance with the criteria set forth in F.S. § 196.012, in each of the ten years during which Harris Corporation is eligible to receive ad valorem tax exemption, it shall be a requirement of the company to reimburse those county ad valorem taxes abated in favor of Harris Corporation, for that period of time that it was determined that Harris Corporation no longer met the criteria of F.S. § 196.012.

(Ord. No. 2009-33, § 1, 12-15-09)