City of Largo v. AHF-Bay Fund, LLCAnnotate this Case
AHF-Bay Fund, LLC appealed a judgment awarding $695,158.23 in damages and prejudgment interest to the City of Largo for AHF’s failure to make payments pursuant to an agreement for payment in lieu of taxes (PILOT agreement) between the City and AHF’s predecessor in interest. On appeal, the Second District reversed, concluding that the PILOT agreement violated public policy and was therefore void. The Supreme Court quashed the decision of the Second District, holding that PILOT agreements that require payments equaling the ad valorem taxes that would otherwise be due but for a statutory tax exemption do not violate Fla. Stat. 196.1978 or Fla. Const. art. VII, 9(a).