HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: p1e0!d33
Date: 6/1/2006
Commission Meeting Date: 6/8/2006
Requesting Department: Economic Development
District Impacted: Citywide
Type: ❑ Resolution ® Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Amendment to Tax Abatement Ordinance Chapter 56 Acticle V/Sec. 56-111
Purpose of Item:
An Ordinance amending Chapter 56/Article V/Section 56-111 entitled "Taxation/Ad Valorem Tax
Exemption for Enterprise Zone Businesses." The change in the existing Code will allow the City of
Miami's Economic Development Department the ability to review and accept tax exemption
appilcations for businesses in the enterprise zone, Currently, the Code does not allow for department
approval of applications because it defines the approving entity as the Economic Development
"Finance Authority," which is no longer in existence.
Background Information:
Chapter 56/Article V/Section 56-111, currently designates the "city economic development finance
authority" as the entity responsible for the review of all aplications submitted under this article.
However, the entity is no longer in existence. The City of Miami has received eight (8) applications
which cannot be processed at this time because the authority has been dissolved. This Ordinance will
replace the authority with the Economic Development Department of the City of Miami. By
accepting applications that meet with the requirements set forth in this ordinance, the Department
encourages and facilitates new and expanding businesses to establish themselves in the City thus
creating new jobs,...
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
Final Approvals
(SIGN AND PATE)
Budget
If using or receiving capital funds
Grants Risk Management
Purchasing Dept. Director 142.1103Era
City Manager a..
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