§ 2-351. Findings and declaration of necessity.

(1)

It is hereby found and declared that the powers conferred by this ordinance (Ord. No. 13-22) are for public uses and purposes for which public money may be expended and the power of eminent domain and police power exercised, and the necessity for the provisions herein enacted is hereby declared as a matter of legislative determination.

(2)

It is further found and declared that the preservation or enhancement of the tax base from which the county realizes tax revenues is essential to its existence and financial health; that the preservation and enhancement of such tax base is implicit in the purposes for which the county is established; that tax increment financing within the Lacoochee/Trilby Redevelopment District is an effective method of achieving such preservation and enhancement because the tax base can not reach its potential due to inadequate infrastructure; that economic development afforded by infrastructure improvements, when complete, will enhance such tax base through the increase in the number of homes and businesses and the value of properties, and provide increased tax revenues to affected taxing authorities, increasing their ability to accomplish their other respective purposes; and that the preservation and enhancement of the tax base in such areas through tax increment financing, the levying of taxes by such taxing authorities, and the appropriation of funds to a Lacoochee/Trilby Redevelopment Fund bears a substantial relationship to the purposes of the county and is for lawful purposes and concerns.

(3)

It is further found and declared that the infrastructure improvements to be funded by the Lacoochee/Trilby Redevelopment Fund are "essential infrastructure," and that this ordinance is intended to create a dedicated financing source for such infrastructure, thus qualifying the tax increment financing adopted by this ordinance as "dedicated increment value" for purposes of F.S. § 200.001(8)(h).

(Ord. No. 13-22, § 1, 11-5-13)