Sec. 780.207. - Ordinance granting exemption.

(a) An ordinance granting an exemption shall include the following: (1) The name and address of the new business or expansion of an existing business to which the exemption is granted; (2) The total amount of revenue available to the County or municipality from ad valorem tax sources for the current fiscal year, the total amount of revenue lost to the County or municipality for the current fiscal year by virtue of economic development ad valorem tax exemptions currently in effect, and the estimated revenue loss to the County or municipality for the current fiscal year attributable to the exemption of the business named in the ordinance; (3) The period of time for which the exemption will remain in effect, the amount of the exemption, and the expiration date of the exemption; and (4) A finding that the business named in the ordinance meets the requirements of Section 780.203 . (5) A description of the property exempted from taxation. (b) In the event that the Council determines to create an exemption schedule different from that set forth in Section 780.208 , the Council shall notify the Property Appraiser before such schedule is finally adopted. Failure to comply with this subsection shall not affect the validity of any exemption granted. (Ord. 93-1989-1145, § 1; Ord. 94-489-259, § 3)