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Home My WebLink About20130879.tiffRESOLUTION RE: APPROVE AGREEMENT PURSUANT TO SECTION 30-11-123, C.R.S., AND AUTHORIZE CHAIR TO SIGN - CARESTREAM HEALTH, INC. WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board has been presented with an Agreement Pursuant to Section 30-11-123, C.R.S., between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Carestream Health, Inc., with terms and conditions being as stated in said agreement, and WHEREAS, after review, the Board deems it advisable to approve said agreement, a copy of which is attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Agreement Pursuant to Section 30-11-123, C.R.S., between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and Carestream Health, Inc., be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign said agreement. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 8th day of April, A.D., 2013. BOARD OF COUNTY COMMISSIONERS WELD COI Y, COLORADO ATTEST: Weld County Clerk to the Board BY: Deputy Clerk APP y Attorney Date of signatureAPR 18 2013 I William t=. Garcia, Chair L 5 Douglas Radem her, Pro-Tem ean P. Conway ike Freeman XCUSED Barbara Kirkmeyer '. p \ I u `f 1 2013-0879 FI0057 AGREEMENT PURSUANT TO C.R.S. & 30-11-123 11 THIS AGREEMENT is made and entered into this day of ° 1 l , 2011 by and between the County of Weld, a body corporate and politic of the state of Colorado, by and through the Board of County Commissioners of the County of Weld, whose address is P.O. Box 758, 1150 O Street, Greeley, CO 80632, hereinafter referred to as, "Taxing Authority," and Carestream Health, Inc., whose address is 2000 Howard Smith Avenue West, Windsor, CO 80550, hereinafter referred to as, "Taxpayer." WITNESSETH: WHEREAS, Taxing Authority desires to promote economic development within Weld County, Colorado, for the purposes of generating employment opportunities for residents of Weld County, thereby stimulating the economic well-being of Weld County's citizens, and WHEREAS, C.R.S. § 30-11-123 provides that the Taxing Authority may negotiate incentive payments to taxpayers who establish new business facilities or who expand existing business facilities, and WHEREAS, Taxpayer represents that it has invested or intends to invest in qualifying personal property and wishes to receive the incentive payment benefits available pursuant to C.R.S. § 30-11-123, and WHEREAS, Taxpayer has been determined to be currently eligible to receive the incentive payment benefits available pursuant to C.R.S. § 30-11-123, and pursuant to the Board of County Commissioners' policy concerning incentive payments passed by Resolution on February 20, 1991 ("Resolution of the Taxing Authority"). NOW, THEREFORE, the parties hereto hereby agree to the following: 1. Subject to annual appropriation by Taxing Authority, fifty -percent (50%) of the amount of personal property taxes paid by the Taxpayer for personal property located at Taxpayer's Facility at 2000 Howard Smith Avenue West, Windsor, CO 80550 ("the Facility"), placed into service in Weld County in: a. As of January 1 2014, and appearing on the personal property declaration schedule submitted by the Taxpayer to the Weld County Assessor, which personal property has not appeared on previous schedules, shall be paid to the Taxpayer by the Taxing Authority for the ten (10) tax years beginning 2014 and ending 2023 (hereinafter referred to as, "10 -Year Term"). All tax incentive payments made pursuant to this Agreement shall hereinafter be referred to as, "Tax Incentive Payments." Taxpayer shall submit to the Weld County Assessor an affidavit certifying the aggregate cost and year of acquisition of Taxpayer's personal property that, to Taxpayer's best knowledge, information and belief, qualifies for incentive payments under C.R.S. § 30-11-123, for the 10 -Year Term. The amounts so 1 0-,2079- 12'517? certified shall be subject to review by the Weld County Assessor. Tax Incentive Payments shall be made by Taxing Authority only upon appropriation, and only it a. All taxes and assessments levied and assessed on "taxpayer by Taxing Authority for Facility are current. and b. In each year of this Agreement, Taxpayer remains eligible to receive the Tax Incentive Payments under criteria established in C.R.S. 30-11-123 and the Resolution of the taxing Authority, and c. Tax Incentive Payments are not calculated as being part of the Weld County Home Rule live percent (5%) property tax limitation or State of Colorado property tax limitation. Any appropriated Tax Incentive Payments shall be made to Taxpayer by Taxing Authority within 90 days of receipt of full payment by the Taxpayer of all personal property taxes due and receipt of an affidavit from the Taxpayer stating that the Taxpayer remains eligible for such payment pursuant to C.R.S. § 30-11-123 and the Resolution of Taxing Authority. 4. The Tax Incentive Payments shall not be made by Taxing Authority if an amendment to the Colorado Constitution limiting property taxes is subsequently passed after the date of this Agreement, or if a court of competent jurisdiction declares any portion of this Agreement, C.R.S. § 30-1 I-123 (as may be amended), or the Resolution of the Taxing Authority, to be invalid or unconstitutional. 5. Any Tax Incentive Payments made under this Agreement that are determined not to be legal under the laws of the State of Colorado or arc determined to be part of the Weld County Home Rule five percent (5%) property tax limitation or State of Colorado property tax limitation, shall be repaid to Weld County. 6. TAX INCENTIVE PAYMENTS TO TAXPAYER SHALL ONLY BE MADE TO THE EXTENT REVENUES ARE AVAILABLE AND APPROPRIATED IN EACH OF THE TEN (10) TAX YEARS OF THE. 10 -YEAR TERM. 7. This Agreement is not assignable. 8. Acceptance of any Tax Incentive Payment by Taxpayer constitutes agreement by both parties to fund the Tax Incentive Payment for the tax year involved. 9. Claim for a Tax Incentive Payment must be submitted to Taxing Authority by Taxpayer by October 1st of each year or Taxpayer waives the right to receive payment for that year. 2 I 0. Taxpayer agrees that it shall attempt to use reasonable efforts to ensure that a minimum of fifty percent (50%) of its workforce employed at the Facility arc Weld County residents during the terms of this Agreement. I I. All notices required or permitted under this Agreement shall be given in writing and shall he effective when delivered in the case of hand delivery, when transmitted, in the case of facsimile transmission or five days after mailing, when mailed, provided that mailed notices shall he sent by certified mail, return receipt requested. Notices shall be sent to the following addressees at the following addresses or facsimile numbers or to such other addressees, addresses or facsimile numbers as a party may designate from time to time by notice given pursuant to this paragraph: If to the County: With a Copy to: Board of County Commissioners P.O. Box 758 Greeley, CO 80632 Weld County Attorney 9 I 5 10`x' Street Greeley, CO 80632 bbarker(d;co.weld.co.us If to Taxpayer: Greg Wright Colorado Mfg. Finance Manager Carestream Health, Inc. 2000 Howard Smith Avenue West Windsor, CO 80550 grog. wrightOcarestreamheal t h. eom 12. Each of the panics will execute and deliver such other instruments and documents and will take all such other actions as the other party may reasonably request and as may reasonably be required in order to effectuate the purpose of this Agreement and to carry out its terms. 13. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument. 14. This Agreement constitutes the entire agreement between the parties and supersedes and replaces all prior and contemporaneous agreements, representations, both written and oral, between the parties with respect to the subject matter of this Agreement. No variation of modification of this Agreement, and the waiver of the Agreement's provisions or conditions, shall be binding unless made in writing and signed by duly authorized officers of the County and Taxpayer. As permitted hereunder, this Agreement shall be binding upon, and inure to the benefit of, the parties and their respective 3 successors and assigns. This Agreement shall be governed by and construed according to the laws of the state of Colorado. 15. It is expressly understood and agreed that the enforcement of the terms and conditions of this Agreement, and all rights of action relating to such enforcement, shall be strictly reserved to the undersigned parties and nothing in this Agreement shall give or allow any claim or right of action whatsoever by any other person not included in this Agreement. It is the express intention of the undersigned parties that any entity other than the undersigned parties receiving services or benefits under this Agreement shall be an incidental beneficiary only. a, , The above and foregoing Agreement was hereby approved on the 6 day of , A.D., 2013. ATTEST: ow u..S - TAXING AUTHORITY: Weld County Cler o the Board County of Weld, by and through the Board of County Commissioners of the County of Weld By: By: Deputy Clerk "o t ;�_; p �` William F. Garcia, Chairman TAXPAYER: Carestream Health, Inc. Printed name:\A4 Vi 6 (7+ti,Jn.-/if Title: /a x 4 a©/3 - Of -77 Carestream Health, Inc. 2000 Howard Smith Ave. West Windsor, CO 80550 February 5, 2013 Ms. Cathy Schulte Sr Vice President Upstate Colorado Economic Development 822 Seventh St, St 550 Greeley CO 80631 Cathy: Carestream, Inc, will be making capital investments in machinery and equipment improvements of up to $4.0 million in our Windsor facility during 2013. We would like to ask your assistance with the Weld County Director of Finance and the County Commissioners to consider entering into a 10 year Business Incentive Agreement for this investment. We have done this in the past and we feel this has been beneficial to both of us. Also consider the second document (your working form) with the basic information you requested about our facility and company to supplement this request. Please contact me if I can help with additional information. 0447( Greg Wright Colorado Mfg Finance Manager Carestream Health, Inc. 970.304.4705 L:rrg.‘‘ ht c reNirramhealth.com CC: David Cranks, Corporate Tax, Carestream Health Chris Schmachtenberger, Director MFAPS Media Mfg, Carestream Health UPSTATECOLORADO PROPOSED WELD COUNTY PROJECT INFORMATION rite Company Name: Carestream Health - Colorado Project Description: Annual capital investment for maintaining manufacturing Facilities. . ,.-tat?,oraic .rr, (Briefly outline project - i.e. function, relocation, consolidation, expansion, combination, et) Is 25% or more of annual gross income from direct retail sales? Yes oCNo) What is the estimated % of annual sales outside of Weld County _99% Primary NAICS Code: Total Est. Investment: Up to $ 4.0m in machinery & equipment Land: Building: Phase 1 Size: acres; Phase 2 Size: acres Property address/legal description: Est. Investment: Property currently zoned Annexed to (name of City or Weld): Existing or New Construction (please circle) Size: sf (phase 1); Size: sf (phase 2) Est. Investment: $ Unique Infrastructure (water/sewer/power) Requirements: Equipment: Up to $ 4.0m in machinery & equipment Employment: New Full-time Jobs Year 1 : New Full-time Jobs Year 2 New Part-time Jobs Year 1 : New Part-time Jobs Year 2 _440_ Existing Full-time Jobs located where: Windsor (Weld County) Existing Full-time Jobs relocating from where: Existing Part-time Jobs relocating from where: Est. average production wage - $ 22 Air + Benefits Est. facility -wide annual average wage $ 28 /hr+ Benefits (include facility management) Benefits are 30% of salary; Company pays 75 % of employee health premium cost Est. training cosVnew employee - $2,000 Est. of employees residing in Weld Co is 59% Time Frame: Est. Construction Start Est. Operational Date: Throughout the year, by year end 2013 Company Representative Signature: edit/AA Date: L/�/i3 Company Representative Name/Title (print): Greg ht, CMfg Finance Manager, Carestream Health Supporting Job Opportunities in Greeley and Weld County Communities 0 d L 0 > C r C c d E U C 'O C C — 3 N a. x 'g as as Q W M C. 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N } CO } In n } (O } o N O } O a CO r S r e N In O r Depreciation Schedule } co co co_ m Nr N 0 N rI -- QS "- el O N O O co r O O < 0 0 N 00 co a- m i- v- O O O N co N m m in v O 7 O O) v Lo O) CO N oi co co n N O rn n co O CO O CO co w 0 0 CO 05 N- a) 0 00 0 0 o coo O r 69 a r CO 0) 00) W r 0) CO LC) N O ro N r o 0 in N C) M (0 v In N to LO N N CO ro cr; CO 0 c a .4 - co (0 O LC) N aJ m a 01 a M u r 0 E W m w O w o o m a H � a O. O W f I= W J J 0 0 C aC >- a) y o a 0 c) J N x W Q 0 a $54,819 Weld County Refund Estimate 10 YR TOTAL ESTIMATED PP TAX REFUND: uirements and refund L ram information. elieibilit 0 See second sheet for additional Hello