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The Charlotte County Board of Commissioners has placed a referendum on the August 24 ballot that TEAM Punta Gorda's Board feels is an important step toward continuing economic development in the area. For this reason, we are providing the following information and hope you will give it favorable consideration. |
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What is the purpose of the referendum?
. . . to increase the competitive position of Charlotte County in its attempts to attract excellent paying jobs to the County.
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Why do we need it?
. . . because the County is experiencing an unprecedented unemployment rate, businesses are closing, and homes are going into foreclosure. The ad valorem tax exemption program will encourage industries that offer higher-than-average salaries to relocate here and help existing businesses to expand. |
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What companies are eligible?
. . . the tax exemption would be available to new for-profit businesses locating or relocating in the County and to existing businesses in the County that are expanding. Certain criteria must be met.
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When would the incentive program take effect?
. . . if the referendum passes, it would take effect on August 25, 2010. The exemption granted by the Board of County Commissioners may be up to 100% of the County ad valorem property tax for qualified businesses for up to 10 years. |
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How does this refendum appear on the ballot?
. . . titled Economic Development Ad Valorem Tax Exemption Ordinance, this is the final item on the ballot under the heading County Referendum. |
