HomeMy WebLinkAbout20062900 RESOLUTION
RE: APPROVEAGREEMENT FOR TAX INCENTIVE PAYMENTS AND AUTHORIZECHAIR
TO SIGN - GREAT WESTERN ETHANOL
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 for Tax Incentive Payments
between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County,and Great Western Ethanol, 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 for Tax Incentive Payments between the County of Weld,
State of Colorado, by and through the Board of County Commissioners of Weld County,and Great
Western Ethanol, 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 18th day of October A.D., 2006.
BOARD OF CsUNTY COMMISSIONERS
�g''�� ELD COUP;' , COLORADO
ATTEST: at,,� ��j 6 � .t 42319
3'*� ,� �. -eile, Chair
Weld County Clerk to the -*.:i F
David . Long, Pro-Tem ,
BY: . LI L 2 i ),k/-.,t
JJ William H. Jerke
APP D AS TO FOB A' EXCUSED
Robert D e4. Masdert
ounty Attorney G141
Vaad
Date of signature: /Map
2006-2900
FI0043
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AGREEMENT
WHEREAS, the Board of County Commissioners of Weld County, Colorado, is desirous of
promoting economic development within Weld County, Colorado (hereinafter referred to as the
"Taxing Authority")for the purposes of stimulating the general well-being of the Taxing Authority and
the generation of employment opportunities; and
WHEREAS, Senate Bill #90-118 was passed by the Colorado General Assembly and
became law on April 24, 1990, and provides that the Taxing Authority may negotiate incentive
payments to taxpayers who establish new business facilities or who expand existing business
facilities; and
WHEREAS, Senate Bill#94-182 was passed by the Colorado General Assembly,effective
January 1, 1995, extending property tax incentive payments indefinitely; and
WHEREAS, Great Western Ethanol (hereinafter referred to as the"Taxpayer") represents
that it has invested or intends to invest in qualifying personal property and wishes to receive the
incentive payment benefits available under Senate Bill #90-118 and Senate Bill #94-182; and
WHEREAS, the Taxpayer has been determined to be currently eligible for benefits under
Senate Bill#90-118 and Senate Bill#94-182 and the policy concerning incentive payments passed
by Resolution on February 20, 1991, (hereinafter referred to as the "Resolution of the Taxing
Authority").
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the undersigned parties hereby agree to the following:
1. Fifty percent of the amount of personal property taxes paid by the Taxpayer up to
twenty-thousand dollars ($20,000)per full-time employee at the time of full operation,
not to exceed sixty-five employees, which equals one-million three-hundred
thousand dollars ($1,300,000) in total payment for property appearing on the
personal property declaration schedule submitted by the Taxpayer to the Weld
County Assessor for the ten tax years beginning 2008 and ending 2017 and which
have not appeared on previous schedules shall be paid to the company by the
Taxing Authority. Only property placed in service in the County during the tax years
given above shall qualify.
2. Such payment shall be made to the Taxpayer or assignee by the County Treasurer
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 the payment under Senate Bill#90-118 and Senate Bill#94-182
and the Resolution of the Taxing Authority.
3. Such payment shall be made only if all taxes and assessments levied and assessed
by the Taxing Authority shall be current.
4. Such payment shall be made only if Taxpayer remains eligible to receive the
incentive payments under criteria established in Senate Bill#90-118 and Senate Bill
#94-182 and the Resolution of the Taxing Authority in each year of this Agreement.
5. Payment shall only be made by Taxing Authority if incentive payment is not
calculated as being part of Weld County Home Rule 5% property tax limitation or
State property tax limitation. ♦ �
2006-2900 0
6. Payment shall not be made by Taxing Authority if State Constitutional Amendment
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, Senate Bill
#90-118 and Senate Bill 90-182, or as may be amended, or the Resolution of
February 20, 1991 setting policy concerning incentive payment to taxpayers to be
invalid or unconstitutional during the term of this Agreement.
7. Any payments made under this agreement that are determined not to be legal under
State law or are determined to be part of the Weld County Home Rule 5% property
tax limitation or State property tax limitation, shall be repaid to Weld County.
8. Payment to Taxpayer shall only be made to the extent revenues are available and
appropriated in each of the ten years of the term of this Agreement.
9. This Agreement is not assignable.
10. Requests for refund must be made by Taxpayer to County no later than November
1st of each year or refunded amount for that year will be forfeited.
11. Acceptance of incentive payment by Taxpayer constitutes agreement by both parties
to fund incentive payment settlement for the tax year involved.
12. Notices to Taxpayer shall be made to James Geist, Great Western Ethanol, 800 8th
Avenue, Suite 304, Greeley, Colorado 80631. Notices to Taxing Authority shall be
made to the Board of County Commissioners of Weld County, 915 10th Street,
Greeley, Colorado 80631.
The above and foregoing Agreement was hereby approved on the 18th day of October,A.D.,
2006.
TAXING AUTHORITY:
6w '.1 1: BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, ORADO
1161 H t,T%!I 7 . �l�"(/t/ BY: / S�.ci
1M. J. eil , Chair OCT 1 8 2006
ithiltipcoaik to the Board
BY: CU," - 4o[Lt�
DepltyCler t• the :oard
TAXPAYER:
GRE STERN ETNA
BY: James eist, Operations Manger (t
/0,02 .6'
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