§ 102-202. Ad valorem tax exemption—Embraer Executive Aircraft, Inc.

(a)

An economic development ad valorem tax exemption is hereby granted to Embraer Executive Aircraft, Inc., Melbourne, Florida, for its new construction and tangible personal property.

(b)

The total amount of revenue available to the county from ad valorem tax sources for the current fiscal year is $181,582,817.84. Two hundred twenty thousand four hundred sixty dollars and sixty-seven cents 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 expanded 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 expansion of an existing business, as defined by F.S. ch. 196.012.

(e)

Embraer Executive Aircraft, Inc. 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 expansion of an existing business for each of the ten years during which Embraer Executive Aircraft, Inc. is eligible to receive ad valorem tax exemption. If the annual report is not received, or if the annual report indicates Embraer Executive Aircraft, Inc., no longer meets the criteria of F.S. ch. 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 designee receives written notice that the company qualifying for an ad valorem tax abatement under the authority of this section has decided not to undertake or complete the new business activity or expansion of an existing business activity, including construction or equipment purchases, giving rise to an ad valorem tax exemption granted under this section, the exemption granted shall be void, 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 to void the granted exemption. Upon the county's receipt of any such notice, the county manager or designee shall forward the notice to the property appraiser along with a copy of this subsection.

(g)

If the board of county commissioners revokes this section, it shall be a requirement of the company to reimburse those county ad valorem taxes abated in favor of Embraer Executive Aircraft, Inc. for that period of time that it was determined that Embraer Executive Aircraft, Inc. no longer met the criteria of F.S. ch. 196.012.

(Ord. No. 2014-11, § 1, 3-18-14)

Editor's note

Prior to the adoption of Ord. No. 2014-11, § 102-202 was repealed by Ord. No. 2013-25, §§ 4, 9, 12, adopted July 23, 2013. Former § 102-202 pertained to ad valorem tax exemption—Pilot Training College Florida, LLC, which was derived from Ord. No. 2011-31, § 1, September 6, 2011.