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 Lake County
 Code of Ordinances
 Chapter 7. ECONOMIC DEVELOPMENT AND BUSINESS INCENTIVES

  § 7-2. Definitions.  

Latest version.

  • As used in this section:

    Average annual wage means the annual average wage paid to workers in Lake County as published by Enterprise Florida, Inc. and compiled by the State of Florida, agency for workforce innovation, labor market statistics, for the most current year published.

    Base year means the tax year during which construction of the project described in the application and attached General Project Overview (GPO) commences.

    Base year taxable value means the value of real and/or tangible personal property owned by an applicant for assistance under this chapter as determined by the Lake County Property Appraiser during the base year.

    Building permit fees means those fees charged by Lake County, or municipalities, for construction, erection, modification, repair and demolition activities within the county which are governed under the Florida Building Code and charged pursuant to the Florida Statutes and as outlined in Lake County Fee Schedule adopted annually by resolution.

    Capital investment means an investment made by an applicant for assistance under this chapter which results in an increase in ad valorem taxes on real and/or tangible personal property.

    Employee means those individuals working for targeted businesses/industries in positions that are covered under and included on the Florida Department of Revenue, Employer's Quarterly Report.

    General Project Overview (GPO) means a standard form used by Enterprise Florida, Inc. and the County Manager or designee to capture and record critical project information needed to evaluate eligibility for a variety of economic development incentive programs.

    Impact fees means those impact fees charged by Lake County, and municipal impact fees if applicable.

    Jobs means full-time positions created after an application for assistance, under this chapter, has been filed with the county where the employee is paid a minimum of one hundred fifteen (115) percent of the average annual wage in the county and are offered benefits.

    Promotion means to encourage the existence or growth of targeted business/industry within Lake County, Florida.

    Qualified target industry (QTI) means those companies that provide high wage jobs in value-added industries as identified by the state and published by Enterprise Florida pursuant to Florida Statutes.

    Targeted business/industry means those businesses falling within the following industry categories: manufacturing, corporate headquarters, research and development, global logistics, homeland security/defense, aviation, aerospace, information technology, life sciences, clean technology, financial or other professional services, emerging technologies, or innovative technology including but not limited to new or advanced methods of processing or delivery of goods or services.

    Year 1 Taxable Value means the value of the property owned by an applicant for assistance under this chapter as determined by the Lake County Property Appraiser during the first tax roll year following one-hundred percent (100%) completion of the project as defined and outlined in the GPO and which reflects the full extent of capital investment.

(Ord. No. 2009-26, § 3, 5-26-09; Ord. No. 2010-47, § 2, 11-23-10; Ord. No. 2012-60, § 2, 9-25-2012; Ord. No. 2013-56, § 2, 10-22-13; Ord. No. 2017-13, § 2, 3-21-17; Ord. No. 2019-10, § 2, 2-12-19)