Loading...
HomeMy WebLinkAboutSR LegislationCity of Miami Legislation Ordinance City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 10-01375 Final Action Date: AN ORDINANCE OF THE MIAMI CITY COMMISSION GRANTING AN AD VALOREM TAX EXEMPTION FOR TANGIBLE PERSONAL PROPERTY TO DDR MIAMI AVE, LLC, A NEW BUSINESS LOCATED IN THE ENTERPRISE ZONE; PROVIDING SCOPE AND TERMS OF EXEMPTION; CONTAINING A SEVERABILITY CLAUSE; PROVIDING FOR AN IMMEDIATE EFFECTIVE DATE, AND AN EXPIRATION DATE. WHEREAS, the City Commission recognized the need to stimulate economic development in certain areas of the City of Miami ("City") which were and are economically depressed, where housing and structural conditions were and are blighted and deteriorated, and where unemployment and poverty were and are prevalent, said areas being designated "Enterprise Zones" as defined in Section 196.012 and Section 29.0.004, Florida Statutes; and WHEREAS, pursuant to Article VII, Section 3 of the Florida Constitution, the State has enacted Section 196.1995, Florida Statutes, providing a local government option for ad valorem tax exemption to new businesses and expansions of existing businesses in each such Enterprise Zone; and WHEREAS, the City Commission authorized Ad Valorem Tax Exemptions for Enterprise Zone Businesses, for new businesses and for the expansion of existing businesses located in the Enterprise Zone through Ordinance No. 12308, enacted on December 12, 2002, as amended; and WHEREAS, the City Commission desired and desires to encourage economic growth and. development and alleviate the conditions of unemployment, economic disinvestments and poverty by creating new construction, new jobs, and an enhanced business climate particularly for small or minority owned businesses; and WHEREAS, DDR Miami Avenue, LLC, hereinafter referred to as "Business", located at 3401 North Miami Avenue, Suite 132, Miami, Florida, 33127, within the City of Miami's Enterprise Zone No. 1301 had made an application for ad valorem tax exemption on tangible personal property for the -year 2007; and WHEREAS, the Business committed to the City Commission that it would maintain a work force of at least five (5) employees of whom at least twenty percent (20%) would be residents of the Enterprise Zone; and WHEREAS, the Business fulfilled its commitment of at least a five (5) employee workforce and created five (5) new jobs, of which at least twenty percent (20%) were residents of the City's Enterprise Zone; and WHEREAS, the City finds that the Business has tax bills which are current; and WHEREAS, the City finds that an ad valorem tax exemption for tangible personal property is City of Miami Page 1 of 3 File Id: 10-01375 (Version: 2) Printed On: 12/28/2010 File Number. 10-01375 appropriate and consistent with the public purpose to eliminate the serious and distressing economic conditions of the designated "Enterprise Zone" in the City of Miami; NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: • Section 1. The recitals and findings contained in the Preamble to this Ordinance are adopted by reference as if fully set forth in this Section. Section 2. The City finds that in the year the Business applied for the ad valorem tax exemption it was a "new business" as defined in Section 196.012(15) (b) Florida Statutes (1991) and as defined in the Code of the City of Miami Florida, as amended ("City Code") Section 56-111, and after careful consideration of certain factors including those enumerated in Section 56-113 of the City Code finds and determines the Business is eligible for ad valorem tax exemption on tangible personal property for the year 2007. Section 3. The City hereby.grants an ad valorem tax exemption for tangible personal property pursuant to Article V of the City Code, enacted on December 12, 2002, as amended, to DDR Miami Ave, LLC, located at 3401 North Miami Avenue, Suite 132, Miami, FL 33127, a "new business." The exemption shall be granted in accordance with subsection 56-112 of the City Code for the eligible tangible personal property acquired and owned by the Business located at 3401 North Miami Avenue, Suite 132, Miami, Florida, 33127. Section 4. The exemption shad apply only to the City's municipal millage and shall not apply to taxes levied for payment of bonds or to taxes authorized by vote of the electors pursuant to Section 9(b) of Section 12, Article VII of the State Constitution. The exemption shall not be prolonged or extended by virtue of any sale of the. Business receiving the exemption. The total amount of revenue available to the City from ad valorenttax sources for Fiscal Year 2007-08 was $285,049,684. The total amount of revenue foregone by the City for Fiscal Year 2007-08 by virtue of Enterprise Zone Ad Valorem Tax Exemptions was $0.00. The revenue foregone by the City for Fiscal Year 2010-2011 attributable to the exemption of the Business named in this ordinance is estimated at $109.00 for tangible personal property, based on 2007 City millage rate, assessed by the Property Appraiser of Miami -Dade County. This amount represents 100% of the eligible tax exemption. Section 5. The duration of the Ad Valorem Tax Exemption for Enterprise Zone Businesses granted to the Business is one (1) year. The tax exemption granted in this ordinance shall expire after the 2010 tax assessment rolls of Miami -Dade County. Section 6. If any section, subsection, sentence, clause or provision of this ordinance is held invalid, the remainder of this ordinance shall notbe affected by such invalidity. Section 7. This Ordinance shall sunset one (1) year from its effective date. Section 8. This Ordinance shall become effective immediately after final reading and adoption thereof. {1} ` APPROVED AS TO FORM AND CORRECTNESS: JULIE O. BR CITY ATTORNEY City of Miami Page 2 of 3 File Id: 10-01375 (Version: 21 Printed On: 12/28/2010 File Number: 10-01375 Footnotes: {1} This Ordinance shall become effective as specified herein unless vetoed by the Mayor within ten days from the date it was passed and adopted. If the Mayor vetoes this Ordinance, it shall become effective immediately upon override of the veto by the City Commission or upon the effective date stated herein, whichever is later. City of Miami Page 3 of 3 File Id: 10-01375 (Version: 21 Printed On: 12128/2010