SUBJECT
title
APPROVE Resolution and First Amendment to Performance Agreement to amend Exemption Period of Economic Development Ad Valorem Tax Exemption for Publix Super Markets, Inc. (Project Harvest - Warehouse) (No fiscal impact)
body
DESCRIPTION
On August 22, 2023, the Board adopted Ordinance No. 2023-053 establishing an exemption from certain ad valorem taxation for an expanding business, Publix Super Markets, Inc., related to its warehouse expansion in Polk County. The County and the company also entered into a related Ad Valorem Tax Exemption Performance Agreement on the same date to ensure the company's fulfillment of its obligations under the Ordinance. The Exemption Period, as defined in both the Ordinance and the Performance Agreement, was to run for eight (8) years, from Tax Year 2027 through Tax Year 2034.
Due to unforeseen construction delays, Publix has requested that its Exemption Period be delayed by one (1) year, to commence in Tax Year 2028 and run through Tax Year 2035. Because of the length of time that has passed since the County's initial approval of the Publix - Project Harvest exemption in 2023 and the increase to the reported average annual wage for Polk County since that time, the company has agreed to increase the average annual wage required to be paid under its Performance Agreement with the County to $63,978, which is 115% of the 2026 reported average annual wage for Polk County. Said delay to the Exemption Period and increase to the wage requirement is reflected in the proposed First Amendment to Performance Agreement between the County and the Company.
Pursuant to Resolution 2022-128, the Board has sole discretion whether to grant a one-time request of a Qualified Business to modify the start date of its Exemption Period. If granted, such modification may be approved by Board resolution.
RECOMMENDATION
(1) Adopt resolution amending the Exemption Period for Publix Super Markets, Inc. (Project Harvest) in connection with...
Click here for full text