HomeMy WebLinkAbout910100.tiff RESOLUTION
RE: APPROVE TAX INCENTIVE PAYMENT FOR EASTMAN KODAK COMPANY AND AUTHORIZE CHAIRMAN
TO SIGN
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 the Tax Incentive Agreement,
commencing 1991, and ending 1994, with the 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 Tax Incentive Agreement be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chairman 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 February, A.D. , 1991.
I� 'yU// �/G�2GCl/yj BOARD OF COUNTY COMMISSIONERS
ATTEST: WELD COUNT C RADO
�'v
Weld County Clerk to the Board NAY
y/ Gord c , irman
By:_a � ��C' (`` AYE
Deputy Clerk to t e Board George K nedy, Pro-Tem
APPROVED AS FORM: /t9,0 -e• -• YE)
onstaannce L. Harbert
4,/f7 *. (NAY)
C unty Attorney C. W. Kirby y
tvpi eX 2,N4? (AYE)
W. H. Webster
910100
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 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, the Kodak Colorado Division (hereinafter referred to as the "Taxpayer")
has invested or intends to invest in qualifying personal property and wishes to
receive the incentive payment benefits available under Senate Bill 188; and
WHEREAS, the Taxpayer has been determined to be eligible for benefits under
Senate Bill 118 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 four tax years beginning 1991 and ending 1994 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 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 118 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 118 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 52 property
tax limitation or State property tax limitation.
910100
Page 2
RE: TAX INCENTIVE - KODAK
6. Payment shall not be made by Taxing Authority if State Constitutional
Amendment limiting property tax is subsequently passed after the date
of this Agreement.
7. This Agreement is not assignable.
8. Acceptance of incentive payment by Taxpayer constitutes agreement by
both parties to fund incentive payment settlement for the tax year
involved.
The above and foregoing Agreement was hereby approved on the 20th day of
February, A.D. , 1991.
TAXING AUTHORITY:
ATTEST: (/ in BOARD OF COUNTY COMMISSIONERS
WELD COUNT , ORAD
Weld County Clerk t the Board
� BY:
BY(1,4 d�� ��t S�J'�� o . L cy, hairman
Deputy' Clerk to the— a4rd
TAXPAYER:
KODAK COLORADO DIVISION
BY:
910100
Kodak
March 25 , 1991
Mr . Don Warden
Weld County Government
915 10th Street
Greeley, CO 80631
Dear Don:
Enclosed is the signed Tax Incentive Agreement .
Kodak Colorado is very appreciative of the action the
County Commissioners have taken in granting our request
for a personal property tax rebate . This certainly
promotes a positive business environment for Colorado and
Weld County.
Thanks again for your support .
Sincerely,
E1 y atividad
As istant to the Manager
EN-19
Enc .
EASTMAN KODAK COMPANY • WINDSOR,COLORADO 80551
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February 28, 1992
Board of County Commissioners Weld County
915 10th Street
Greeley, CO 80631
Dear Commissioners:
Enclosed is the affidavit required by the 02/20/91 County's
Resolution for the 1992 incentive program. I have reviewed
this with Lee Morrison and have incorporated his
suggested changes. I have enclosed seven copies of the
affidavit and would appreciate you providing one copy to
Mr. Don Warden and one copy to Mr. Lee Morrison.
Very truly yours,
6 ,w,„0___)
L arryV. Connors
Financial Services
LVC:lkk
cc: Elly Natividad, Assistant to Plant Manager
Ron Sjolander, KCD Comptroller
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V{� `VAI>, EASTMAN KODAK COMPANY • WINDSOR, COLORADO 8055V1
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TO
February 25, 1992
Board of County Commissioners Weld County
915 10th Street
Greeley, CO 80631
Dear Commissioners:
This letter certifies that Kodak Colorado Division remains
eligible to receive the incentive payment under criteria
established in Senate Bill 118 (CRS 30-11-123) and the
"Resolution" of the Weld County Board of County Commissioners
of 02/20/91.
Specifically:
* The qualifying taxable personal property is located
at Kodak Colorado Division, Windsor, Colorado a "new business
facility" as referenced by C.R.S. 30-11-123 and used in
connection with the operation for the current property tax
year.
* The qualifying assets have been purchased and/or
fabricated and installed at the Kodak Colorado Division
Plant, Windsor, Colorado and are listed on personal property
tax schedule numbered 0018021.
* Kodak Colorado Division qualifies as a basic industry
by creating primary jobs, importing dollars into the
community and meets the following criteria.
a) The expanding business is not a result of any
corporate reorganization nor the sale of an existing
business. New investment was created.
b) Kodak Colorado Division's qualifying
manufacturing assets result in more than 50% of its gross
annual income being derived from outside Weld County.
c) Kodak Colorado Division's qualifying assets
result in lees than 25% of its gross annual income from
retail or internally directed sales.
EASTMAN KODAK COMPANY • WINDSOR, COLORADO 80551
Page 2
d) Kodak Colorado Division has invested
significantly more than the minimum $100,000 in the two
qualifying projects - Sheet Film of the Nineties and World
Class Plate Project.
Very truly yours,
/ Y
R. Sjolander
Comptroller
Kodak Colorado Division
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