SUBJECT
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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 POMELO - Corporate IT Headquarters Expansion) (No fiscal impact)
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DESCRIPTION
On September 3, 2024, the Board adopted Ordinance No. 2024-055 establishing an exemption from certain ad valorem taxation for an expanding business, Publix Super Markets, Inc., in Polk County related to its corporate IT headquarters expansion known as Project Pomelo. 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 ten (10) years, from Tax Year 2026 through Tax Year 2035.
Due to unforeseen construction delays, Publix Super Markets, Inc. has requested that its Exemption Period be delayed by one (1) year, to commence in Tax Year 2027 and run through Tax Year 2036.
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 POMELO - Corporate IT Headquarters Expansion) in connection with its Ad Valorem Tax Exemption under Ord. 2024-055; and (2) approve, and authorize the Chair to execute, the related first amendment to the performance agreement between the parties.
FISCAL IMPACT
None.
CONTACT INFORMATION
Sandra Howard, Deputy County Attorney
863-534-6437