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Home My WebLink About20231862.tiffRESOLUTION RE: APPROVE TAX INCENTIVE AGREEMENT PURSUANT TO C.R.S. §30-11-123, AND AUTHORIZE CHAIR PRO-TEM TO SIGN - K2D, INC., DBA COLORADO PREMIUM FOODS 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 a Tax Incentive Agreement Pursuant to C.R.S. §30-11-123 between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and K2D, Inc., dba Colorado Premium Foods, 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 Tax Incentive Agreement Pursuant to C.R.S. §30-11-123 between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and K2D, Inc., dba Colorado Premium Foods, be, and hereby is, approved. BE IT FURTHER RESOLVED by the Board that the Chair Pro-Tem 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 5th day of July, A.D., 2023. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO ATTEST: die/44) ado; ci EXCUSED Mik- __-_ -man, Chair Weld County Clerk to the Board BY: APP County = torney Date of signature: erry - Buck,ro-Tem Cc: FI(RR/cP/so),AcT(cv) cA(t36) 0712.o/ 2.3 2023-1862 FI0078 Cor►ivac-i-1Dii--ilo 1 BOARD OF COUNTY COMMISSIONERS PASS -AROUND REVIEW PASS -AROUND TITLE' Personal Property Tax Rebate Request -Colorado Premium Food (Confidential) DEPARTMENT. Finance DATE 5/30/23 PERSON REQUESTING Cheryl Pattelll Brief description of the problem/issue Upstate Colorado is confidentially working with Colorado Premium Food ("Colorado Premium"), a meat processing and packaging company that currently has operations in Greeley The company is expanding their operations but cannot do so at their existing facility due to space constraints To support the expansion, Colorado Premium purchased an existing building in Greeley, 2400 29th Street, last year The company began the permitting process and several media outlets reported on the expansion, which essentially announced the project While the company was working quickly to get the building purchased and entitled in 2022, they slowed the actual expansion down They now anticipate reactivating the expansion project this summer, with operations planned for March 2024 The new operation will not impact or absorb any of the existing operation, and all expansion estimates are net new , As you will see on the attached Project Information Form, the total project investment is estimated at $20M, of which $9M will be new equipment As part of the expansion, Colorado Premium will be hiring 100 new full-time employees during Phase 1 and an additional 150 FTE during Phase 2 The facility average wage a estimated at $31 25/hour or $65,000/year, which is 109% of the Weld County average wage of $28 60/hour or $59,501/year (2023, most current) The company estimates that 99% of their employment will reside in Weld County, with 82 4% residing in Greeley, since that is their current make up Colorado Premium will continue strive for the employment of over 50% Weld County residents and are interested in working with ESWC and Aims CC as needed As part of Colorado Premium's expansion process, the company is looking to access any local resources that may be available to them as they begin their expansion Based on the company's estimated equipment investment of $9M, a Weld County partial personal property tax rebate is estimated at $105,777 over 10 years (depreciation schedule attached) Upstate Colorado has been working with City of Greeley staff regarding this project and the city is supportive of the proposed expansion/operation The City of Greeley is working to finalize an incentive package for this expansion, which will go to City Council for approval in the near future The proposed budding is in the Enterprise Zone so the project will qualify for state income tax credits, and Colorado Premium maybe able to take advantage of Colorado First/Existing Industries Training Grants This project is not eligible for state incentives (JGITC or the Strategy Fund) since Colorado Premium is not considering another state for this operation The proposed food processing facility location/expansion meets the Weld PPT rebate criteria of establishing a new business facility, strengthening the county's primary employment base, and further diversifying our food/manufactunng/production industry sector The company's annual average wage ($65,000/year) is 109% of the Weld County average wage of $59,501 and the company pays 82% of employee health premiums Colorado Premium has been a long time Weld/Greeley employer and this expansion signifies continued investment in our region What options exist for the Board? (include consequences, impacts, costs, etc of options) 1) Approve the PPT request Direct Finance to work with Upstate Colorado on agreement with Colorado Premium that will be brought to an upcoming BOCC meeting for final approval If approved at BOCC, Finance will include the additional $105,777 transfer from the General Fund to the Economic Development Fund in the mid -year supplemental budget request This transfer will be needed to fund the PPT rebate 2) Do not approve the request 2023-1862 — 1/---510O17S Recommendation: Weld County Finance, along with Upstate Colorado, recommends the Board approve Colorado Premium's PPT rebate request. Acorn; L. Buck, Qrn_Tam Mike Freeman, Chair Scott K. James Kevin Ross Lori Saine Approve Schedule Recommendation Work Session \ftot. f m� Viol, /math VRICnQAL Vi a E,vv.t Via Emaa Other/Comments C Karla Ford From: Sent: To: Cc: Subject: Approve Sent from my iPhone Perry Buck Tuesday, May 30, 2023 3:02 PM Mike Freeman Karla Ford; Lori Saine; Scott James; Kevin Ross Re: Please Reply - May 30 2023 Pass Around_Colorado Premium Food PPT Rebate Request On May 30, 2023, at 11:01 AM, Mike Freeman <mfreeman@weld.gov>wrote: Approve Sent from my iPhone On May 30, 2023, at 10:47 AM, Karla Ford <kford@weld.gov>wrote. Please advise if you approve recommendation. Thank you. Karla Ford Office Manager, Board of Weld County Commissioners 1150 0 Street, P.O. Box 758, Greeley, Colorado 80632 :: 970.336-7204 :: kford@weldgov.com :: www.weldgov.com **Please note my working hours are Monday -Thursday 7:00a.m.-5:00p.m.** <image001. jpg> Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you hcve received this communication in error, please immediately notify sender by return e- mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Cheryl Pattelli <cpattelli@weld.gov> Sent: Tuesday, May 30, 2023 10:12 AM To: Karla Ford <kford@weld.gov> Cc: Ryan Rose <rrose@weld.gov>; Rich Werner <rwerner@upstatecolorado.org>; Audrey Herbison <aherbison@upstatecolorado.org> Subject: May 30 2023 Pass Around_Colorado Premium Food PPT Rebate Request Can you please send this pass around to the BOCC? (2 of 3 I'm sending today). Thanks! <May 30 2023 Pass Around_Colorado Premium Food PPT Rebate Request.pdf> Karla Ford From: Sent: To: Subject: I approve Kevin Ross Kevin Ross Wednesday, May 31, 2023 8:46 AM Karla Ford; Scott James Re: Please Reply - May 30 2023 Pass Around_Colorado Premium Food PPT Rebate Request From: Karla Ford <kford@weld.gov> Sent: Wednesday, May 31, 2023 8:45:36 AM To: Scott James <sjames@weld.gov>; Kevin Ross <kross@weld.gov> Subject: Please Reply - May 30 2023 Pass Around_Colorado Premium Food PPT Rebate Request Both of you missed this one yesterday. Please advise if you approve recommendation. Thank you! Karla Ford .R Office Manager, Board of Weld County Commissioners 1150 0 Street, P.O. Box 758, Greeley, Colorado 80632 :: 970.336-7204 :: kfordt weldgov.com :: www.weldgov.com **Please note my working hours are Monday -Thursday 7:00a.m.-5:00p.m.** Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. if you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Cheryl Pattelli <cpattelli@weld.gov> Sent: Tuesday, May 30, 2023 10:12 AM To: Karla Ford <kford@weld.gov> Cc: Ryan Rose <rrose@weld.gov>; Rich Werner <rwerner@upstatecolorado.org>; Audrey Herbison <aherbison@upstatecolorado.org> Subject: May 30 2023 Pass Around_Colorado Premium Food PPT Rebate Request Can you please send this pass around to the BOCC? (2 of 3 I'm sending today). Thanks! 1 Karla Ford From: Sent: To: Cc: Subject: Approve ** Sent from my iPhone ** Scott James Wednesday, May 31, 2O23 8:54 AM Karla Ford Kevin Ross Re: Please Reply - May 3O 2O23 Pass Around_Colorado Premium Food PPT Rebate Request Scott K. James Weld County Commissioner, District 2 115O O Street, P.O. Box 758, Greeley, Colorado 8O632 97O.336.72O4 (Office) 97O.381.7496 (Cell) Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. On May 31, 2O23, at 8:45 AM, Karla Ford <kford@weld.gov>wrote: Both of you missed this one yesterday. Please advise if you approve recommendation. Thank you! Karla Ford it. Office Manager, Board of Weld County Commissioners 1150 O Street, P.O. Box 758, Greeley, Colorado 80632 :: 970.336-7204 :: kfordkweldgov.com :: www.weldgov.com **Please note my working hours are Monday -Thursday 7:00a.m.-5:00p.m.** <imageOO1. jpg> Confidentiality Not -ice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain inform ition that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 1 Karla Ford From: Sent: To: Subject: yes Lori Saine Weld County Commissioner, District 3 1150 O Street PO Box 758 Greeley CO 80632 Phone: 970-400-4205 Fax: 970-336-7233 Email: Isaine@weldgov.com Website: www.co.weld.co.us In God We Trust Lori Saine Wednesday, May 31, 2023 1:46 PM Karla Ford RE: Please Reply - May 30 2023 Pass Around_Colorado Premium Food PPT Rebate Request Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged, confidential or otherwise protected from disclosure. If you have received this communication in error, please immediately notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Karla Ford <kford@weld.gov> Sent: Tuesday, May 30, 2023 10:48 AM To: Mike Freeman <mfreeman@weld.gov>; Perry Buck <pbuck@weld.gov>; Lori Saine <Isaine@weld.gov>; Scott James <sjames@weld.gov>; Kevin Ross <kross@weld.gov> Subject: Please Reply - May 30 2023 Pass Around_Colorado Premium Food PPT Rebate Request Importance: High Please advise if you approve recommendation. Thank you. Karla Ford '. Office Manager, Board of Weld County Commissioners 1150 0 Street, P.O. Box 758, Greeley, Colorado 80632 1 AGREEMENT PURSUANT TO C.R.S. 0 30-1.1-123 THIS AGREEMENT is made and entered into this 'day of Jute , 2023, 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 K2D, Inc. whose corporate address is 2035 2r'a Avenue, Greeley, CO 80634, 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 `T'axpayer's Facility at 2400 29`1 Street, Greeley. CO ("the Facility"), placed into service in Weld County in: a. 2024, 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 2025 and ending 2034 (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 certified shall 1 25' be subject to review by the Weld County Assessor. 2. Tax Incentive Payments shall be made by Taxing Authority only upon appropriation, and only if: 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 five percent (5%) property tax limitation or State of Colorado property tax limitation. 3. 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. § 30-11-123 (as maybe 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 are 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 10. 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 are Weld County residents during the terms of this Agreement. 11. All notices required or permitted under this Agreement shall be given in writing and shall be 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 be 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 ntunbers as a party may designate from time to time by notice given pursuant to this paragraph: If to the County: With a Copy to: If to Taxpayer: Board of County Commissioners P.O. Box 758 Greeley, CC) 80632 Weld County Attorney 1150 O Street Greeley, CO 80632 Dan LaFleur President of Colorado Premium Foods K2D, Inc. 2035 2nd Avenue Greeley, CO 80631 12. Each of the parties 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 terns. 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 successors and assigns. This Agreement shall be governed by and construed according to the laws of the state of Colorado. 3 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. The above and foregoing Agreement was hereby approved on the ZIv of June A.D., 2023. ATTEST: ddettfit)•� BOARD OF COUNTY COMMISSIONERS Weld ty Clerk to the Boo�•�' �►` WELD J UNTY, COLORADO BY: Deputy Cl k. is the CFO APPROVED AS TO FUN APPROVED AS TO FORM: County Attorney erry L. P;1 k, Pro -Tern JUL 0 5 2023 APPROVED AS TO SUBSTANCE: Elected Officia or Department Head TAXPAYER: K2D, Inc. By: Dan LaFleur, President of Colorado Premium Foods 4 /Slot A *4" City of / Greeley GREELEY/WELD COUNTY PROJECT INFORMATION FORM for Incentive Development Company Name: Colorado Premium Please provide a brief project description (facility function, relocation, expansion, consolidation, etc.) below: Provide an opportunity for expansion of Colorado Premium Foods. Currently, we have more customer needs than we can meet because we are out of room at our existing facility The facility will be processing space for multiple protein species, similar to the property we have had on 2nd avenue since 2005. We will have cooking capabilities as well as portion cut proteins. Which of the following functions does the company derive 50+% of its income from: Dese Manufacturing; � Processing; Distribution; Research & Development; Aerospace Computer System/Software Product Development; I ethnical Support; Energy Primary NAICS Code: 311612 (if known) I Is 25% or more of annual gross income from direct retail sales? Yes No Est. % of annual sales outside of Weld? 95 % Outside of Gree ey? 99 ok Total Est. Investment (phase 1 building/land/equipment): $ 20,000,000 p Acres Needed: 20 Est. Investment: $ 8,000,000 Required Zoning: PUD Annexation Required? Address/Legal Description: 2400 West 29th St. Greeley, CO. 80631 Yes No cn (Phase 2 - if applicable) Ill Existing Building New Construction Phase 1 Size: approximately 50,000Size: sq. ft. Phase approximately 2 PP 70,000 y sq. ft. CO Phase 1 investment: 1 1 ,000,000 $ 4,000,000 Phase 2 Investment: $ 9 E Please indicated infrastructure requirements be/ow or: Water (potable/non-potable,- line sue; gallons/day, etc.?): 125,000 gallons per day kuawaainb; I np n 4s 2J j Sewer (line size; pretreatment, etc. ?): solids seperation vault and ability to discharge 125,000 gallons / day Gas (volume, etc. ?): 1,200 MCF/rno. Electrical (Amps; peak demand, etc.?): 3000 KVA 480 volt 3 phase. 2000 KVA 220 volt 3 phase. 5 megawatt total Rail Required: Yes ✓ No Phase 1 New Equipment ;depreciable personal property) Investment: $ 9,000,000 aEst. E 2,000,000 Est. Phase 2 New Equipment (de (depreciablepersonal P property) Investment: $ .� Est. Value of existing equipment to be relocated: $ Cr mployment and Wages Existing Employment (if applicable) 400 0 Existing Full-time Weld jobs: Existing Part-time Weld Jobs: New Employment - Phase 1 New Employment - Phase 2 (if applicable) 100 150 New Full-time Jobs: New Full-time Jobs: 0 0 New Part-time Jobs: New Part-time Jobs: New Construction Jobs: 11 Existing Colo. Full-time Jobs Relocating to Proposed Facility: 0 ; from where? Existing Colo. Part-time Jobs Relocating to Proposed Facility: 0 ; from where? Wage/Benefit Information Est. facility -wide, annual average wage at proposed facility: $ 65,000 /year (include facility mgmt.) Est. average production wage at proposed facility: $ 17.75 /hour 19 82 Benefits are est. to be % of salary/wage Company pays % of employee health premium Other Employment Information Est. % of workforce that is/will be Weld resident: 99 %; Greeley resident: 82.4 ok Est. Training Cost/Employee: $ Est. Construction Start: 6/1/23 Est. New Job Hiring Start: 2/1/24 law Est. Operational Date: 3/1/24 Est. Phase 2 Start(ifapplicable) : 1/1/25 Additional Pertinent Info Please add any additional information below, as warranted: o4U] 1D21U( Auedu. Company Rep Name: Doug Kayl Title: Plant Engineer Email: doug.kayl@coloradopremium.com Phone: 970 302 0226 City/State: 2035 2nd Ave, Greeley, CO. Zip: 80631 ✓ This information is accurate and complete to the best of my knowledge. Date: 4/28/2023 Thank you for your interest in locating/expanding in Greeley/Weld County. For questions or assistance in completing this form please contact either: Philip McCready, Economic Development Manager City of Greeley 970-336-4075 philip.mccready@greeleygov.com (:ir ofd''' Greel (`nInrgdn Audrey Herbison, Economic Development Manager Upstate Colorado Economic Development 970-356-4565 aherbison@upstatecolorado.orq UPSTATECOLORADO ECONOMIC DEVELOPMENT 5/19/23, 3:31 PM Property Report Weld County PROPERTY PORTAL Property Information (970) 400-3650 Technical Support (970) 400-4357 Account: R0131594 May 19, 2023 Account Information Account Tax Account I Parcel Space Type Year Buildings .__._ —.-4 R0131594 095924100075 I I Commercial 2023 Actual Value Assessed Value 6,488,526 i 1,810,300 j Legal GR 17622-M PT NE4 24 5 66 (MEYER ANNEX) BEG NE COR SEC S688.26' TO SE COR TR 5 GALLERY GREEN ANNEX N89D53'W 610.67' TO TRUE POB S0D02'E 180' S0D01'E 740.95' N88D36'W 729.43' TO E LN GALLERY GREEN 4TH ANNEX N0D05'W 497.99' TO SW COR TRACT 3 GALLERY GREEN ANNEX S88D36'E 670.25' TO MOST SE COR TR 3 N0D02'W 421.64' S89D53'E 59.73' TO BEG s Subdivision i Block Lot I Land Economic Area GREELEY 23RD AVE (26 TO 32ND ST) W TO 28TH AVE COM Property j Property Address City 2400 W 29TH ST I GREELEY Zip I Section I Township I Range i I I 24 ; 05 ` 66 Owner(s) 1 Account [ Owner Name ; Address ( R0131594 I JKL DEVELOPMENT I 2400 W 29TH ST GREELEY, CO LLC 806318519 https://propertyreport.weld.gov/?account=Ro131594 1/2 5/19/23, 3:31 PM Property Report Valuation Information Type Code Description Actual Value Assessed Value Acres Land SqFt Improvement 3 2212 MERCHANDISING- IMPROVEMENT 5,556,169 1,550,170 0.000 j 0 Land Totals 2112 _ _« MERCHANDISING - LAND 932,357 6,488,526 260,130 8.918 8.918 i 388,482 388,482 1,810,300 Comparable sales for your Residential or Commercial property may be found using our SALES SEARCH TOOL Tax Authorities Tax District Area I ID 0600 0700 District Name Current Mill Levy AIMS JUNIOR COLLEGE 6.307 0600 0411 I GREELEY CITY 0600 1050 I HIGH PLAINS LIBRARY NORTHERN COLORADO WATER (NCW) 0600 0301 i-- 0600 0206 ! SCHOOL DIST 6-GREELEY 0600 0100 I WELD COUNTY 87.199 Copyright © 2023 Weld County, Colorado. All rights reserved. Privacy Statement & Disclaimer I Accessibility Information https://propertyreport.weld.gov/?account=R0131594 2/2 Personal Property Tax Refund Incentive Worksheet Colorado Premium 2400 West 29th Street May, 2023 Greeley and Weld County may each approve a refund of up to 50% of their portion of the tax paid on new personal property (equipment) first put into operation in Year 1, for up to 10 years. Below we've estimated taxes due on the new equipment and potential rebates based on the most current 2023 property mill levy. Based on confidential discussions with government officials, the below estimated refund calculation assumes that Greeley and Weld County will each approve a 50% refund request for 10 years. This refund is subiect to formal government(s) approval. Project Assumptions: New Equipment: $9,000,000 Location: 2400 West 29th Street Current Total Mill Levy: 87.199 mills Weld Levy - 15.038 mills Greeley Levy - 11.274 mills Depreciation: Manufacturing Equipment - 10 year life average service life Assessment Factor 29% of actual value 2023 Depreciation Schedule Equipment Value Assessed Value Tax Due 2400 West 29th Street - Tax Area 0600 Current Mill Levy - 87.199 mills Taxing Jurisdictions: Weld County -15.038 mills; School Dist 6 Greeley - 50.399 mills; Northern Colorado Water -1.000 mills; High Plains Library - 3.181 mills; City of Greeley - 11.274 mills; Aims Junior College - 6.307 mills 92% 83% 74% 66% 57% 48% 40% 33% 26% 20% Yr.1 Yr.2 Yr.3 Yr.4 Yr.5 Yr.6 Yr.7 Yr.8 Yr.9 Yr.10 $9,000,000 2,610,000 2,401,200 2,166,300 1,931,400 1,722,600 1,487,700 1,252,800 1,044,000 861,300 678,600 522,000 209,382 188,899 168,416 150,209 129,726 109,243 91,036 75,104 59,173 45,518 10 YR TOTAL ESTIMATED PP TAX DUE: $1,226,707 Note: Above calculation does not include tax due on real property (building & land). Entities able to refund: PP taxes to Weld County: 36,109 32,577 29,044 25,904 22,372 18,840 15,700 12,952 10,205 7,850 PP taxes to Greeley: 27,071 24,423 21,775 19,421 16,772 14,124 11,770 9,710 7,651 5,885 Total 63,180 57,000 50,819 45,325 39,144 32,964 27,470 22,663 17,855 13,735 50%Waiver 31,590 28,500 25,409 22,663 19,572 16,482 13,735 11,331 8,928 6,867 10 YR TOTAL ESTIMATED PP TAX REFUND: $105,777 Weld County Refund Estimate $79,301 Municipal Refund Estimate $185,077 Total Refund over 10 years See information sheet for additional program details, eligibility requirements, and refund procedures. Contract Form New Contract Request Entity Information Entity Name* Entity ID* UPSTATE COLORADO ECONOMIC .00000760 DEVELOPMENT Contract Name* PERSONAL PROPERTY TAX REBATE AGREEMENT - COLORADO PREMIUM FOOD Contract Status CTB REVIEW El New Entity? Contract ID 7161 Contract Lead* CPATTELLI Contract Lead Email cpattellrOco.weld.co.us Contract Description* PERSONAL PROPERTY TAX REBATE AGREEMENT FOR COLORADO PREMIUM FOOD Contract Description 2 Contract Type* AGREEMENT Amount* $105,777.00 Renewable* NO Automatic Renewal Grant Department FINANCE Department Email CM-FinanceAweldgov.com Department Head Email CM-Finance- DeptHead0uvldgov,com County Attorney GENERAL COUNTY ATTORNEY EMAIL County Attorney Email CM- COU NTYATTO RN EY:YWELDG OV.COM Requested BOCC Agenda Date* 06; 2e; 2023 Parent Contract ID Requires Board Approval YES Department Project Due Date 06122/2023 Will a work session with BOCC be required?* NO Does Contract require Purchasing Dept. to be included? If this is a renewal enter previous Contract ID If this is part of a MSA enter MSA Contract ID Note: the Previous Contract Number and Master Services Agreement Number should be left blank if those contracts are not in OnBase Contract Dates Effective Date Review Date* Renewal Date 06,22;2023 Termination Notice Period Committed Delivery Date Expiration Date. 06 30 2033 Contact Information Contact Info Contact Name Purchasing Contact Type Contact Email Contact Phone 1 Contact Phone 2 Purchasing Approver Purchasing Approved Date Approval Process Department Head CHERYL PATTELLI DH Approved Date 06'22 2023 Final Approval BOCC Approved BOCC Signed Date BOCC Agenda Date 07/05,2023 Originator CPATTELLI Finance Approver CHERYL PATTELLI Legal Counsel BRUCE BARKER Finance Approved Date Legal Counsel Approved Date 06;22:2023 06'28 2023 Tyler Ref # AG 070523 Hello