§ 1-7-70. Land as an incentive.

Consistent with the authority granted pursuant to F.S. § 125.045, and in conjunction with section 1-1-16 of this Code of Laws and Ordinances, the board has authorized the offering of county owned land as an inducement to attract and retain qualified businesses. An inventory of available lands shall be made available for economic development purposes each year. The appraised value to be utilized towards the calculation of incentives as provided in this article shall be calculated at their just value as reported by the property appraiser's office unless separately appraised if required which shall be at the sole discretion of county.

Conveyance of lands shall only occur upon performance of projected employment and capital improvement or subject to a reverter in favor of the county to be released upon said performance. Lands may be utilized by participants through land leases either convertible to fee simple upon performance or for a term with an option to convert to fee simple based on the appraised value determined in the program agreement minus prior lease value provided participant has met projected performance criteria. The value of all lease terms shall be provided for in the calculation of incentives.

(Ord. No. 2010-074, § 1, 12-14-10)