SUBJECT
title
Public Hearing to consider adoption of an ordinance repealing Ordinance 22-054, the Economic Development Ad Valorem Tax Exemption for Lineage Logistics Services, LLC
body
DESCRIPTION
On July 19, 2022, the Board adopted Ordinance No. 22-054 establishing an exemption from certain ad valorem taxation for a new business, Lineage Logistics Services, LLC. The Ordinance provided for a ten-year, 75% exemption on applicable ad valorem taxes for real and personal property to be located and developed in Lake Alfred commencing in Tax Year 2025.
By letter dated March 6, 2025, the Company notified the County that, due to current market conditions and customer demand, the Company would not be moving forward with building a new facility in Lake Alfred as previously planned. The County has notified the Property Appraiser and may now exercise its right to revoke the exemption previously granted for Lineage Logistics Services, LLC. As the exemption was set to begin in 2025, no taxes have yet been exempted on the property. A public hearing is required to consider adoption of an ordinance repealing Ordinance 22-054.
RECOMMENDATION
Adopt ordinance repealing Ordinance 22-054, the Economic Development Ad Valorem Tax Exemption for Lineage Logistics Services, LLC.
FISCAL IMPACT
None.
CONTACT INFORMATION
Sandra Howard, Deputy County Attorney