§ 115.04. Definition of terms.

The following words, phrases and terms shall have the same meanings attributed to them in current Florida Statutes and the Florida Administrative Code, except where the context clearly indicates otherwise:

(1)

Applicant. Any person or corporation submitting an economic development ad valorem tax exemption application to the city.

(2)

City council. Port St. Lucie City Council, which is the governing authority of the City of Port St. Lucie.

(3)

Business. Any activity engaged in by any person, corporation or company with the object of private or public gain, benefit, or advantage, either direct or indirect.

a.

New business.

1.

A business establishing ten or more jobs to employ ten or more full-time employees in this city, which manufactures, processes, compounds, fabricates, or produces for sale items of tangible personal property at a fixed location and which comprises an industrial or manufacturing plant.

2.

A business establishing 25 or more jobs to employ 25 or more full-time employees in this city, the sales factor of which, as defined by Section 220.15(5), Florida Statutes, for the facility with respect to which it requests an economic ad valorem tax exemption is less than 0.50 for each year the exemption is claimed.

3.

An office space in this city owned and used by a corporation newly domiciled in this city; provided such office space houses 50 or more full-time employees of such corporation.

4.

A business located in an area designated as an enterprise zone. Provided that such business or office referred to in subsections 115.04(3)a.1., 2. or 3. first begins operation on a site clearly separate from any other commercial or industrial operation owned by the same business.

b.

Expansion of existing business.

1.

A business establishing ten or more jobs to employ ten or more full-time employees in the city, which manufactures, processes, compounds, fabricates, or produces for sale items or tangible personal property at a fixed location and which comprises an industrial or manufacturing plant.

2.

A business establishing 25 or more jobs to employ 25 or more full-time employees in this city, the sales factor, as defined by Section 220.15(5), Florida Statutes, for the facility with respect to which it requests an economic ad valorem tax exemption is less than 0.50 for each year the exemption is claimed.

Provided that such business increases operations on a site co-located with a commercial or industrial operation owned by the same business, resulting in a net increase in employment of not less than ten percent or an increase in productive output of not less than ten percent.

(4)

City. The City of Port St. Lucie, Florida.

(5)

Department. The Florida Department of Revenue.

(6)

Improvements. Physical changes made to raw land, and structures placed on or under the land surface. All personal property acquired to facilitate an expansion of an existing business provided that the personal property is added or increased on or after the day the ordinance approving the exemption is adopted. However, personal property acquired to replace existing property shall not be considered to facilitate a business' expansion.

(Ord. No. 10-55, § 4, 11-22-10)