13-1389 Amending Chapter 78 to Create Article VI - Tax Abatement Program

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Section 78 -95. Consideration of applications A. The City Commission shall take action on each application, including the enactment of the Implementing Ordinance, should the City Commission decide to grant the application. B. The threshold for eligibility is whether the Business meets the definition of a New Business or of an Expansion of an Existing Business as set forth in Section 78 -92 of this Authorizing Ordinance, and one which is not an ineligible business or industry, as set forth in Subsection (D) of this Section. C. The next level to determine eligibility is the City Commission's consideration of the information in the application to determine whether the Exemption, if granted, would result in an economic benefit to the City. D. Any existing Business in violation of any federal, state, or local law or regulation governing environmental matters is not eligible for an Exemption. E. Before the City Commission takes action on an application. the City Manager, or Community Development Director, shall deliver a copy of the same to the Property Appraiser for review. After careful consideration. the Property Appraiser shall report to the City Manager, or Community Development Director, the fiscal impact of granting the Exemption. F. The Property Appraiser's report shall include the following: 1. The total revenue available to the City for the current fiscal year from ad valorem tax sources or an estimate of such revenue if the actual total available revenue cannot be determined: 2. The amount of revenue lost to the City for the cut-rent fiscal year by virtue of Exemptions previously granted, or an estimate of such revenue if the actual revenue lost cannot be determined; 3. An estimate of the amount of revenue which would be lost to the City for the cut-rent fiscal year if the Exemption applied for was granted, had the property for which the Exemption is requested otherwise been subject to taxation; and 4. A determination as to whether the property for which an Exemption is requested is to be incorporated into a New Business or the Expansion of an Existing Business, or into neither, which determination the Property Appraiser shall also affix to the face of the application. Upon request, the Department of Revenue will provide Appraiser such information as it may have available to assist in making this determination. G. After consideration of the application and the report of the Property Appraiser on the application, the City Commission may choose to adopt an Implementing Ordinance granting the Exemption to a New Business or the Expansion of an Existing Business. If an Exemption is granted, the Implementing Ordinance shall include the following information: 1. The names and address of the New Business or the Expansion of an Existing Business; 2. The names of the owner or owners of the New Business or the Expansion of an Existing Business: 3. The total amount of revenue available to the City from ad valorem tax sources for the current fiscal year, the total amount of the revenue lost to the City for the current fiscal veal- by virtue of Exemption currently in effect, and the estimated revenue loss attributable to the Exemption granted to the New Business or the Expansion of an Existing Business: 4. The period of time for which the Exemption will remain in effect and the expiration date of the Exemption; and Ordinance 13 -1389 Page 7