HomeMy WebLinkAbout20051775.tiff RESOLUTION
RE: APPROVE AGREEMENT FOR TAX INCENTIVE PAYMENTS AND AUTHORIZE CHAIR
TO SIGN - PRAXAIR, 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 for Tax Incentive Payments
between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County,and Praxair, Inc.,with further 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
Praxair, 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 20th day of June, A.D., 2005.
'a BOARD OF COUNTY COMMISSIONERS
EL�s, WELD COUNTY, COLORADO
1861 ( .�; kid% William H. e, Chair
rk to the Board
e® �,�, M. ile, Pro-Tem
eputy Clerk to he Board — -
Da ' E. Lon PP
AP V DAST V1
Robert D. Masd n
unty ttor y
Glenn Vaad -
Date of signature: I rg �5
2005-1775
F10041
op ' /l Si r1-- Pi)Nk4-I J fib-o
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, Praxair, Inc. (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 for
property appearing on the personal property declaration schedule submitted by the
Taxpayer to the Weld County Assessor for the ten tax years beginning 2005 and
ending 2014 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 forthe 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.
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AGREEMENT - PRAXAIR, INC.
PAGE 2
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 without written approval of the County.
10. Acceptance of incentive payment by Taxpayer constitutes agreement by both parties
to fund incentive payment settlement for the tax year involved.
11. Notices to Taxpayer shall be made to Praxair, Inc, Dave Grant, Assoc. Director
Economic Development,9 Bronson Rd., Grand Island, NY 14072. Notices to Taxing
Authority shall be made to the Board of County Commissioners of Weld County,915
10th Street, Greeley, Colorado 80631.
a' SvNe
The above and foregoing Agreement was hereby approved on the *day of Adgtist, A.D.,
aoec
TAXING AUTHORITY:
Aw� �� BOARD OF COUNTY COMMISSIONERS
Air /. 4 % ilataymAh WELD COUNTY, COLORADO
BY:
`ia6i ti 4"'
=W° n Robert D. Masden,Chair
I�1 j; el, fntyClerkto the Board Willi mot
mFl. Ser2
•
4.mit 43s awns 0-a—ref ate
Deputy Clerk to the Board
TAXPAYER:
PRAXAIR, INC.
BY.41d 1 1,-'71
aex-LC-nis-
i-a-40,9
7-‘11-1
DEPARTMENT OF FINANCE
AND ADMINISTRATION
PHONE (970) 356-4000, Ext. 0212
FAX: (9(970) 3522-0242
P. O. BOX 758
ip
GREELEY, COLORADO 80632
C.
COLORADO
August 9, 2004
Praxair, Inc.
Dave Grant
Assoc. Director Economic Development
9 Bronson Rd.
Grand Island, NY 14072
RE: Tax Incentives
Dear Dave:
Enclosed are two copies of an incentive agreement for personal property tax. Please have both
copies of each agreement signed and return them to me for processing. I will return one copy of
each agreement after it is signed and approved by the Commissioners.
If you have questions or need additional information, please do not hesitate to contact me at
(970) 356-4000, Extension 4218.
Vedv truly yours,
J, km/0--
m,
Donald D. Warden, Director
Finance and Administration
DDW/dm
Enclosures
A 14k44ID Praxair,Inc.
- rI�MAM I� Post Office Box 44
Tonawanda,NY 14150 7891
Tel (716)879-2000
June 8, 2005
Mr. Donald D. Warden
Director Finance and Administration
Weld County
P.O BOX 758
Greeley, Colorado 80632
Subject: Tax Incentive
Dear Don,
I just came across the"Tax Incentive"document you had sent to me last August. The
writer obviously is at fault for not signing and sending the documentation back to you per
your letter of August 9,2004. As to the project itself, the construction phase started in
February of this year and is scheduled to be completed and delivering product to Owens-
Illinois by mid August, 2005.
Enclosed are two signed copies of the incentive agreement for personal property. If you
have any questions or require additional information, you can contact me at either 716-
879-2260 (office), or 716-510-4169 (cell). Please accept my humble apology for the
tardiness in taking care of this matter.
Sincerely,
i
a21 c C.
David IC. Grant
Associate Director Economic Development
An Atmosphere of Excellence
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