Ordinance 2010-20
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ORDINANCE NO. 2010--2..0......
AN ORDINANCE OF COLLIER COUNTY PROVIDING
FOR THE CREATION OF INNOVATION ZONES BY THE
BOARD BY SUBSEQUENT RESOLUTION; PROVIDING
FOR THE CALCULATION OF AN ANNUAL TAX
INCREMENT AMOUNT WITHIN THE GEOGRAPHIC
BOUNDARIES OF EACH INNOVATION ZONE;
CREATING AN ECONOMIC DEVELOPMENT TRUST
FUND FOR EACH INNOVATION ZONE FOR THE
TRANSFER AND MAINTENANCE OF SUCH TAX
INCREMENT AMOUNTS; AUTHORIZING THE PLEDGE
AND APPROPRIATION OF ECONOMIC DEVELOPMENT
TRUST FUNDS; AUTHORIZING THE PREPARATION OF
AN ECONOMIC DEVELOPMENT PLAN FOR EACH
INNOVATION ZONE BY SUBSEQUENT RESOLUTION OF
THE BOARD; PROVIDING DEFINITIONS; AND
PROVIDING AN EFFECTIVE DATE.
BE IT ENACTED BY THE BOARD OF COUNTY COMMISSIONERS OF
COLLIER COUNTY, FLORIDA:
SECTION ONE.
PURPOSE.
It is the policy of the Board to promote economic growth which results in high wage jobs
and helps diversify the economy of Collier County. To further this policy, it is the intent of the
Board to create a dedicated source of revenue to fund an economic development program and to
advance economic development initiatives in zones of geographic concentration within the
unincorporated areas of the County. These zones, to be called Innovation Zones, will be
designated by the Board from time to time through the implementation of Economic
Development Plans adopted by resolution for each Innovation Zone.
SECTION TWO. FINDINGS.
It is hereby ascertained, determined and declared that:
(A) The use of available Tax Increment revenues within an Innovation Zone as a
dedicated economic development tool and funding source enhances the general welfare of the
County through the advancement of new employment opportunities, the implementation of
redevelopment initiatives, the creation of new economic development opportunities and locations
and the expansion of existing employment centers.
(B) Each Innovation Zone is intended to encompass a defined geographic area used to
determine the Tax Increment paid and applied pursuant to ordinance, resolution or agreement
within the meaning of the term "dedicated increment value" defined in section 200.001(8)(h),
Florida Statutes.
(C) Commencing in the Initial Tax Increment Year for each Innovation Zone, the Tax
Increment calculated pursuant to Section 4 of this Ordinance is intended to be a dedicated
increment value referenced in the calculation of the "rolled back rate" under the method
established in section 200.065(1), Florida Statutes.
SECTION THREE.
DEFINITIONS.
As used in this Ordinance, the following words and terms have the following meanings,
unless the context otherwise requires a different definition:
"Aggregate Ad Valorem Millage Rate" means that millage rate obtained from the
quotient of the sum of ad valorem taxes levied by the Board for countywide programs and within
a municipal service taxing unit plus the ad valorem tax levied for all districts dependent to the
Board divided by the total taxable value of the County, excluding Voted Millage.
"Aggregate Ad Valorem Taxes" means ad valorem revenue generated by a levy of the
Aggregate Ad Valorem Millage Rate against the total taxable value of the County considered for
any of the discrete Collier County real property assessment rolls referenced in Section 4 of this
Ordinance.
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"Base Year Assessment Roll" means the last Collier County Real Property Assessment
Roll certified by the Property Appraiser prior to the date of adoption of the Tax Increment
Resolution.
"Board" means the Board of County Commissioners of the County.
"County" means Collier County, Florida.
"County Manager" means the chief administrative officer of the County or such
person's designee.
"Economic Development Plan" means the economic development program referred to
in Section 8 of this Ordinance established by resolution of the Board for each Zone.
"Economic Development Trust Fund" or "Trust Fund" means that Trust Fund
created by resolution in Section 6 of this Ordinance for each Zone for the deposit, maintenance
and accounting of the Tax Increment revenues annually generated within each Zone.
"Initial Tax Increment Year" means the tax year commencing October 1,2010 or such
subsequent tax year as established in the Tax Increment Resolution for the initial determination
of a Tax Increment for the annual funding by the County of an Economic Development Trust
Fund for a Zone.
"Innovation Zone" or "Zone" means a geographic area created by resolution pursuant
to Section 4 of this Ordinance used to determine a Tax Increment to be paid into an Economic
Development Trust Fund to fund the Economic Devclopment Plan approved for each Zone.
"Propcrty Appraiser" mcans the Property Appraiser of the County.
"Tax Increment" means the annual dctermination for each Zone of the tax increment
revenues calculated for each Zone pursuant to the formula adoptcd in Section 4 of this
Ordinance.
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"Tax Increment Resolution" means the resolution adopted by the Board pursuant to
Section 9 of this Ordinance.
"Voted Millage" means ad valorem taxes levied in excess of maximum millage amounts
authorizcd by law approved for periods not longcr than two years by vote of the electors pursuant
to Articlc VII, section 9(b), Florida Constitution, or ad valorem taxes approved by the electors
and levied as provided in Articlc VII, section 12, Florida Constitution, whether required and
authorized by law, ordinance or the Florida Constitution.
SECTION FOUR.
CREATION OF INNOVATION ZONES AND THE
CALCULATION OF ANNUAL TAX INCREMENT AMOUNT.
(A) The Board shall create Innovation Zoncs by adopting a resolution defining the
geographic area comprising the Zone.
(B) The Tax Increment amount for each Zone shall be determined annually by the
application of the following formula within the geographic area defined for each Zone and shall
be that amount equal to the percentage rate set in the Tax Increment Resolution applied to the
difference between: (I) the amount of Aggregate Ad Valorem Taxes received each year by the
County from ad valorem taxes levied on taxablc real property contained within the geographic
boundaries of a Zone; and (2) the amount of Aggregate Ad Valorem Taxes which would have
been produced by a levy of the Aggregate Ad Valorem Millage Rate each year by the County
upon the taxable real property within the geographic boundaries of a Zone as shown on the Base
Year Assessment Roll.
(C) The amount to be funded by the County for each Zone shall not be less than the
percentage applied to the difference betwcen subparagraphs (B)(I) and (B)(2) of this Section as
set in the Tax Increment Resolution or the resolution creating an Economic Development Plan
adopted for each Innovation Zone.
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(D) The County Manager shall certify to the Property Appraiscr by May I of the year
prior to the Initial Tax Increment Year, the boundaries of the designated geographic areas of each
Zone, the reference to the Base Year Assessment Roll to be applied, and the specific proportion
of the cumulative increase in taxable value to be applied in determining the Tax Increment. Any
change in geographic boundaries, the Base Year Assessment Roll or percentage of the specific
proportion of the cumulative increase in taxable value shall be certified to the Property Appraiser
prior to May I of the year in which the change is to occur.
SECTION FIVE.
ANNUAL FUNDING OF ECONOMIC DEVELOPMENT TRUST
FUND.
Prior to January I of each County Fiscal Year and subsequent to any certification of the
County Manager to the Property Appraiser required pursuant to Section 4(D), the Board shall
appropriate and transfer to the Economic Development Trust Fund created for each Zone the Tax
Increment for such defined geographic area, in an amount not less than that calculated pursuant
to the formula provided in Section 4 of this Ordinance.
SECTION SIX.
CREATION OF ECONOMIC DEVELOPMENT TRUST FUND
FOR EACH ZONE.
There is hereby created an Economic Development Trust Fund for each Zone hereafter
created by the Board in accordance with this Ordinance. The Tax Increment determined
annually for each Zone shall be deposited in the Trust Fund prior to January I of each year as
provided in Section 5 of this Ordinance and maintained for such Zone until paid or pledged for
the implementation of thc Economic Dcvelopment Plan created for the Zone. By resolution of
the Board, available funds maintained in onc Economic Development Trust Fund can be paid or
applied for a joint project or program with available funds maintained in a separate Economic
Development Trust Fund or a percentage of future Tax Increment revenues can be pledged and
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applied for two or more Economic Dcvelopment Trust Funds to jointly fund a program or project
affecting multiple Zones.
SECTION SEVEN.
PLEDGE OR APPROPRIATION OF TRUST FUNDS.
By subsequent resolution or agreement, the Board shall have the authority to provide for
the use of flmds maintained in an Economic Development Trust Fund for any purpose that
accords with the requirements of Florida law, including without limitation issuing revenue bonds
secured by a pledge of available funds maintained in an Economic Development Trust Fund, or
authorizing lease purchase obligations subject to annual appropriation from such available funds.
In the event the Board decides to pledge such funds as security for revenue bonds, then such
bonds can be secured from available funds maintained in the separate Economic Development
Trust Fund crcated for cach Zone or from available funds jointly available in multiple Economic
Development Trust Funds for multiple Zones as detennined in such subsequent resolution or
agreement.
SECTION EIGHT.
PREPARATION OF ECONOMIC DEVELOPMENT PLAN.
The Board shall adopt, and rcvise as nccessary, by resolution, an Economic Development
Plan for each Zone created by Ordinance, to provide for:
(A) The appropriation or pledge of trust funds deposited or maintained In the
Economic Development Trust Fund creatcd for those Zones.
(B) An cconomic development program identifying the public benefit to be derived,
infrastructure necessary and required to implemcnt and support such program, any incentives,
regulatory or procedural changes, donations or contributions as may be deem cd neccssary to
further economic development and/or redevelopment within thc rcspcctive Innovation Zone and
a fiscal and/or economic analysis as and to thc extcnt dcemed appropriatc by the Board.
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(C) A partncrship agreement, from one or more private entities, detailing a
commitment to providc support in the form of financial funding, infrastructure improvements,
land donations or other contributions, which in the discretion of the Board, promotes the viability
and success of the Innovation Zone.
SECTION NINE.
INITIAL DETERMINATION OF A TAX INCREMENT.
The Board shall adopt for each Zone a Tax Incrcment Resolution: (I) designating the
Base Y car Assessment Roll; (2) setting the percentage to be applied to the formula set forth in
Section 4(B) of this Ordinance for the calculation of the Tax Increment; (3) specifying the
number of County fiscal years to be utilized in determining the annual Tax Increment; and (4)
setting the Initial Tax Increment Year. At the discretion of the Board, the resolution adopting
and revising the Economic Dcvelopment Plan and the initial Tax Increment Resolution can be
combined into a single resolution serving both functions.
SECTION TEN.
IMPLEMENTATION.
The Board may establish, from time to time, rules and regulations to implement and
govern the administrative procedures that will bc necessary for staff to implement this
Ordinance, including minimum application requirements. These rules and regulations will be
published and made readily available to the public.
SECTION ELEVEN: CONFLICT AND SEVERABILITY.
In thc evcnt this Ordinance conflicts with any other ordinance of Collier County or other
applicable law, thc morc restrictivc shall apply. If any phrase or portion of the Ordinance is held
invalid or unconstitutional by any court of competent jurisdiction, such portion shall be deemed a
separate, distinct and independent provision and such holding shall not affect the validity of the
remaining portion.
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SECTION TWELVE: INCLUSION IN THE CODE OF LAWS AND ORDINANCES.
The provisions of this Ordinance shall become and be made a part of the Code of Laws and
Ordinances of Collier County, Florida. The sections of the Ordinances may be renumbered or
relettered to accomplish such, and the word "ordinance" may be changed to "section," "article,"
or any other appropriate word.
SECTION THIRTEEN: EFFECTIVE DATE.
This Ordinance shall be effective upon filing with the Department of State.
PASSED AND DULY ADOPTED by the Board of County Commissioners of Collier
County, Florida, this \ \~ay of H~'-\
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,2010.
A TTES1:
DWIGHT E. BROCK, CLERK
By:
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BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
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By: (]
FRED W. COYLE, CHAIRMAN
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This ordinance filed with the
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STATE OF FLORIDA)
COUNTY OF COLLIER)
I, DWIGHT E. BROCK, Clerk of Courts in and for the
Twentieth Judicial Circuit, Collier County, Florida, do
hereby certify that the foregoing is a true and correct
copy of:
ORDINANCE 2010-20
Which was adopted by the Board of County Commissioners
on the 11th day of May, 2010, during Regular Session.
WITNESS my hand and the official seal of the Board of
County Commissioners of Collier County, Florida, this 13th
day of May, 2010.
DWIGHT E. BROCK
Clerk of Courts and Clerk
Ex-officio to Board of
County Commissioners
By: Martha
Deputy