Agenda

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Public Hearings 10.

BCC Regular Meeting

Meeting Date:	09/03/2020
Issue: 5:33 p.m. Public Hearing to Consider Adopting an Ordinance to establish an EDATE for Navy Federal Credit Union Expansion
From:	Janice Gilley
Department:	County Administrator's Office
CAO Approval:

RECOMMENDATION:

5:33 p.m. Public Hearing Concerning the Adoption of an Ordinance Establishing an Economic Development Ad Valorem Tax Exemption for the Navy Federal Credit Union Expansion.

Recommendation: That the Board adopt an Ordinance to establish an Economic Development Ad Valorem Tax Exemption (EDATE) for the Navy Federal Credit Union Expansion.

BACKGROUND:

In accordance with Section 3, Article VII of the Florida Constitution and in accordance with Chapters 125, 163, 192, and 214, Florida Statutes, and Chapter 12D-7, Florida Administrative Code, Escambia County previously enacted an ordinance relating to economic development ad valorem tax exemptions (EDATE's) whereby certain new and expanding businesses may be exempted from ad valorem taxation as provided for in F. S. 196.1995.

Exemptions may be granted to eligible new businesses for up to 100% of the assessed value of all improvements to real property made by or for the use of the new business and tangible personal property of such business for a period of up to 10 years. Applications for exemptions shall be considered by the Board on a case-by-case basis for each Application, after consideration of the Property Appraiser's report on that Application.

Navy Federal Credit Union (NFCU) has applied for an EDATE as an expanding business, specifically with the construction of Building 7, Amenities, and Parking Deck 3 at their compound on Beulah Road. The Board adopted a Resolution supporting the expansion and subsequent, anticipated EDATE request from NFCU on June 10, 2013. The Property Appraiser Office has favorably reviewed the EDATE Application and signed on July 2, 2020.

Based on the criteria established in the County's EDATE ordinance, the project scores 13 out of a possible 13 points, and qualifies for a 100% exemption for 10 Years. The Board retains discretion as to whether to grant, in whole or in part, or deny any request for exemption. Provided with this Recommendation is a copy of the draft Ordinance, the Phase II Application and the Rating Points Tally for Building 7.

BUDGETARY IMPACT:

Estimate of County revenue which would be lost during the current fiscal year if the exemption were granted to the property at issue had the property otherwise been subject to taxation is $2,877,424.

LEGAL CONSIDERATIONS/SIGN-OFF:

The draft Ordinance was prepared by Senior Assistant County Attorney Kristin Hual and was advertised in the Pensacola News Journal on Wednesday, July 29, 2020.

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

N/A

IMPLEMENTATION/COORDINATION:

N/A

Attachments
NFCU EDATE Ordinance
Phase II Application
Rating Points Tally Building 7