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CASSELBERRY CITY COMMISSION Minutes of July 9, 2012 — Regular Meeting Page 12 of 18 "AN ORDINANCE OF THE CITY OF CASSELBERRY, FLORIDA, CALLING A REFERENDUM ON WHETHER TO AUTHORIZE THE CITY COMMISSION TO GRANT ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTIONS PURSUANT TO ARTICLE VII, SECTION 3, OF THE STATE CONSTITUTION AND SECTION 196.1995, FLORIDA STATUTES; PROVIDING LEGISLATIVE FINDINGS, PROVIDING FOR PURPOSE OF QUESTION; PROVIDING FOR REFERENDUM BALLOT TITLE AND QUESTION, AND PROVIDING FOR DIRECTION TO THE CITY CLERK, SEVERABILITY AND AN EFFECTIVE DATE." Notice of Public Hearing: The Notice of Public Hearing relative to the second reading of Ordinance 12 -1373 was published in the Orlando Sentinel on June 28, 2012. Staff Presentation: Kyle Dudgeon, Planner, gave a brief overview of the item, and stated the Tax Abatement Program is made possible by Florida Statutes 196.1995 and would authorize the City Commission, on a case - by -case basis, to grant property tax exemptions to new businesses and expansions of existing businesses that are expected to create new, full -time jobs in the City, paying an average wage which is above the average wage in the area. He stated that this would be an economic development incentive that the City may be able to use to facilitate future job growth. Mr. Dudgeon explained that the exemption requires a citizen vote in order to be enacted, and if the Ordinance is adopted, it would establish authority to place a referendum question on the November 6, 2012 election ballot. He stated that if the Tax Abatement Program is approved by the voters, the Commission would then be authorized to grant qualifying businesses a temporary ad valorem tax exemption up to 100% for a period of up to 10 years. Mr. Dudgeon gave a presentation outlining the process, including how eligible businesses are determined, and what the steps would be in the application process. A copy of the PowerPoint presentation is attached to and made a part of these minutes. Budget Impact: This action may impact the City's budget to the extent that the collection of potential ad valorem tax revenue from new construction may be deferred under this program at the discretion of the City Commission. Recommendation: The Interim City Manager and the Community Development Director recommended adoption of Ordinance 12 -1375. Public Hearing: Mayor Glancy opened the public hearing relative to Ordinance 12 -1375. The following individuals came forward: Mr. James Fraleigh, 23 Teresa Court, spoke in opposition to the Ordinance, voicing his concern that it would give an advantage to new businesses over existing businesses which had stayed in the City even through hard times. He stated he did not believe that would be fair to those existing businesses. 2. Mr. John Casselberry, 700 S Lost Lake Lane, recommended that any tax abatement be for no longer than five years should the program be approved. No one else came forward. Mayor Glancy closed the public hearing relative to Ordinance 12 -1375.