§ 29.106. Continuing obligations.

A business granted an economic development ad valorem tax exemption shall continue to comply with the following requirements throughout the period for which the exemption is approved:

(1)

A business granted the exemption shall be required to inform the board in writing within ten days as to any changes in ownership of the business. Failure of the business to so notify the board of any such changes in ownership is cause for revocation of the ordinance granting the exemption, at the board's discretion.

(2)

A business granted the exemption shall commence the creation of the new full-time jobs within the exemption period and shall maintain newly created jobs for its facility in the county through the expiration of the exemption at a minimum. If a business requires additional time beyond the exemption period to satisfy all new job creation, maintenance, and salary requirements identified in the application, the county may require the business to enter into an additional agreement to identify all such requirements and obligate the business to comply fully with those requirements.

(3)

The applicant shall be required to submit an annual report to the office of management and budget on or before March 1 of each year for which the exemption was granted. The applicant shall also timely comply with all filings required pursuant to F.S. § 196.011.

(4)

The annual report shall certify that information provided in the original application has not changed. The annual report shall also provide a report on the status of the business, provide evidence that it has continued to qualify as a new business or expansion of an existing business such as an employee roster, and stating with specificity the number of new jobs still in existence, additional jobs created since approval of the exemption, and the average wage of all employees.

(Ord. No. 12-17, § 7, 8-6-2012)