AG 1998 11 16 - Laserfiche WebLink

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previously approved by the Board of County Cowmh_~ion¢i-~ of thc County a copy of which is attached hereto as ~ and as previously approved by the City Council of the City a copy of which is attached hereto as 2 each a "Program" and, collectively, the "Programs"). The City and thc County he--by confirm th.t the City Council of the City and the Board of County Cow,ni~sioners of thc County, respectively, have approved the application of the Programs to the FCI Plans and have authorized the Grants and the other terms of Programs and this Agreement. The City and the County further co.~rrn that this Agreernenl constitutes the "formal agreement" required under the Programs and that the lerm_~ of the Agreement and the applicable tc....~ contained in the descriptions of th~ Prol~ams set forth on Exhibit C~I and Exhibit C-2, respectively, shall goveia the application of the Programs to the FCI Plans. (b) All patties understand that even though the City and County have chosen the property tax assessment base as the value criterium for the Programs, financial incentives offend by the City and County are nov to be considered as allocated from any dedicated revenue source. Incentives from the County are to be paid from thc County's Gen~ial Fund alter appropriate budgetary actions by thc County Commission. The Coullty's Ctelle~ Fund consists of revenue sources inclusive of ad valorem taxes, local sales rexes, interRovemmental revenues, permit and fce revenues, sales and service fee revenues, financing sources, interest earnin_.os and other miscellaneous revenues. Other thsn as established by applicable ~ederal or stall laws, revenues have no dedi~_ed expenditure purpose. 1.2 Grant Period~. 1.2.1 Initial Grant Pe.riod. (a) The parties agree that the five- year period for the initial Grant to FCI (the "Initial Grant Period") shall be~ with' such fiscal year of thc City and the County as FCI shall elect by written notice to the City and the County but shall begin no later then one fiscal year within twelve mouths of the completion of the FCI Plan. It is FCI's current plan (which is subject to change) to begin implementing the FCI Plan on or after San~ I, 1998, which is the date as of which value of real and personal property will be determined for assessment for ad valorem taxes° Co) The FCI investment for purposes ofdetermlnlng thc base investment level for the initial Grant under the Program shall be thnt amount eq-*! to the assessed value for ad valorem tax purposes of ail real and personal property (including all buildings~ Illa~hlnery, equipment and other personal property) which is added or in~t. nlled alter lanuary I, 1998. To allow for consideration of investments that FCI might pursue which do not reach the base investment level for a separate Crrant consideration but arc consistent with the investments in facility improvements for which ~ initial Industr/al Development Incentive Cu-ant applied, projects that may not separately meet thc hasc investment levcl criteria under the Programs complctcd Within the Initial Crrant Period may also qualify for consideration w/thin the remainder of the Initial Grant Period upon a shared~a~en~esbat~s2" 2