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Home My WebLink AboutSubmittal-Draft Legislation..Title 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; PROVIDING FOR A SEVERABILITY CLAUSE, AN IMMEDIATE EFFECTIVE DATE, AND AN EXPIRATION DATE. ..Body 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 290.004, 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, FL 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 is 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; (o-0I - Draft _e3 iS afion Submitted into thi t>ibI record in connection with item (o on IZ- ilo - /0 Priscilla A. Thompson City Clerk ..Title 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; PROVIDING FOR A SEVERABILITY CLAUSE, AN IMMEDIATE EFFECTIVE DATE, AND AN EXPIRATION DATE. ..Body 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 290.004, 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, FL 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 is 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; Submitted into the pubike recorcik connection with item (- (A. 62 on 1 7:110-10 Priscilla A. Thompson City Clerk NOW, THEREFORE, BE|TORDAINED BYTHE COMMISSION C>FTHE CITY C)F 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 inthe year the Business applied for the advalorem tax exemption itwas o"new business" asdefined inSection 198.O13(15)(b)Florida Statutes (19S1) 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 ontangible personal property for the year 2DO7. Section 3.The City hereby grants anadvalorem tax exemption pursuant toArticle Vof the City Code, enacted on December 12. 2003. as amended, to [j[)Fl Miami Ave, LLC. located at 3401 North Miami Avenue, Suite 132. Miami, FL 33137. 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 at3401 North Miami Avenue, Suite 132, K8imnni FL38127. Section 4.The exemption shall apply only tothe Citv'mmunicipal nniUogmand 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. Artio|eV|| 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 0frevenue available tothe City from advalorem tax sources for F`/2O07-OOwas $285,049,684. The total amount of revenue foregone by the City for FY 2007-08 by virtue of Enterprise Zone AdValorem Tax Exemptions was $O.00.The revenue foregone bythe City for FY2O10-2011 attributable tothe exemption nfthe Business named inthis ordinance ia oodnnatmd at $109.00 for tangible personal property, based on 2007 City mi||age rate, assessed by the Property Appraiser ofMiami-Dade County. This amount represents 100Y6 of the o/iQjb|e tax exemption. Section 5.The duration ofthe AdValorem Tax Exemption for Enterprise Zone Businesses granted 10the Business isone (1)year. The tax exemption granted inthis ordinance shall expire after the 2010 tax assessment rolls of Miami -Dade County. Section 6. If any saodon, subseotion, aentenoe, o|ouae or provision of this ordinance is held invalid, the remainder of this ordinance shall not be 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. (11 APPROVED AS TO FORM AND CORRECTNESS: JUL|EC}.BFlU CITY ATTORNEY Qt �0 -_ ��record in » '�-%`��^�,°��-'| f rn (P on 14-city Clerk owp". ..Footnote {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. Submitted Into the P, " recc�> l non a-L(0 lu Priscilla A. Thompson � Cle�k