SUBJECT
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Public Hearing to consider adoption of an ordinance granting an Economic Development Ad Valorem Tax Exemption to an expanding business, ALDI (Florida) L.L.C., and approval of a Performance Agreement with the company.
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DESCRIPTION
The Board is asked to consider adoption of an ordinance, the title of which is:
AN ORDINANCE OF POLK COUNTY, FLORIDA, ESTABLISHING AN EXEMPTION FROM CERTAIN AD VALOREM TAXATION FOR ALDI (FLORIDA) L.L.C., AN EXPANSION OF AN EXISTING BUSINESS; PROVIDING FINDINGS OF FACT; PROVIDING A TITLE; PROVIDING THE TOTAL AMOUNT OF REVENUE AVAILABLE TO THE COUNTY FROM AD VALOREM TAX SOURCES FOR THE CURRENT FISCAL YEAR, THE TOTAL AMOUNT OF REVENUE LOST TO THE COUNTY FOR THE CURRENT FISCAL YEAR BY VIRTUE OF ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTIONS CURRENTLY IN EFFECT, AND THE ESTIMATED REVENUE LOSS TO THE COUNTY FOR THE CURRENT FISCAL YEAR ATTRIBUTABLE TO THE EXEMPTION FOR ALDI (FLORIDA) L.L.C.; PROVIDING FOR THE GRANT OF AN EXEMPTION FOR 8 YEARS AT 50 PERCENT; PROVIDING FOR A FINDING THAT THE COMPANY MEETS THE REQUIREMENTS OF SECTION 196.012 (15), FLORIDA STATUTES, (EXPANSION OF AN EXISTING BUSINESS); PROVIDING FOR CONTINUING PERFORMANCE; PROVIDING FOR APPLICABILITY; PROVIDING FOR REVIEW; PROVIDING FOR EXPIRATION; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.
Pursuant to Polk County Ordinance 2022-069, the County received an application for an Economic Development Ad Valorem Tax Exemption from an existing business, ALDI (Florida) L.L.C., seeking to expand its cold storage warehousing and distribution operations in Polk County. Along with that application was a letter of recommendation from the Haines City Economic Development Council and the Central Florida Development Council and other required documentation showing that the company intends to add 450 new jobs, at least 10 of which will be new full-time jobs in Polk County paying an average annual wage of at least 115% of the County's 2024 average annual wage. The...
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