The Belleview City Commission on Tuesday approved the first reading of Ordinance 2025-06, a proposed economic incentives program aimed at attracting new businesses and revitalizing underused commercial areas. The ordinance’s first reading passed 4-1, with Commissioner Bo Smith casting the sole dissenting vote.
If adopted on second reading, the ordinance would create an “Economic Development Expendable Trust Fund” and allow the city to offer financial incentives on a case-by-case basis. These incentives could include permit fee reimbursements, business tax waivers, and grants tied to job creation and capital investment.
Incentive packages would be tied to specific criteria, including investment thresholds, job creation, and alignment with Belleview’s redevelopment or comprehensive plans. For example, developers investing more than $5 million could qualify for up to 60% reimbursement of building permit fees and 100% of police impact fees. The city may also waive business tax receipts for up to five years for qualifying businesses.
Proponents say the measure could help fill vacant storefronts and reduce the need for residents to travel to Ocala or The Villages for goods and services. Critics argue the ordinance could place a financial burden on taxpayers, especially if incentivized projects fail to deliver on their promises.
According to the ordinance, each agreement would include claw-back provisions, allowing the city to recover funds if performance goals aren’t met. Businesses would also be required to meet minimum wage and benefits standards and create at least ten full-time jobs to qualify for job-related grants.
With vacant storefronts peppering the city and residents driving to Ocala or The Villages for shopping and dining, some believe Belleview needs to put some skin in the game.
The plan’s most aggressive incentives are reserved for investments of $5 million or more or for projects that create at least 20 qualifying jobs. Incentives would be dished out on a case-by-case basis and only after a formal agreement is approved by the commission. Reimbursements would depend on the size of the investment—up to 60% of building permit fees and 100% of police impact fees for projects topping $5 million. Job creation also plays a role, with 20 full-time positions worth the equivalent of a $100,000 investment under the plan.
The ordinance emphasizes that all incentives will be reimbursed—not paid upfront—and subject to annual compliance monitoring.
The measure is expected to return for a final public hearing and vote at a future Belleview City Commission meeting.
