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Home My WebLink About20231861.tiffRESOLUTION RE: APPROVE TAX INCENTIVE AGREEMENT PURSUANT TO C.R.S. §30-11-123, AND AUTHORIZE CHAIR PRO-TEM TO SIGN -AIRXCEL, INC., DBA AQUA -HOT HEATING SYSTEMS, LLC 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 Airxcel, Inc., dba Aqua -Hot Heating Systems, LLC, 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 Airxcel, Inc., dba Aqua -Hot Heating Systems, LLC, 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: /. 4,4J ;(A Weld County Clerk to the Board BY: APP County torney Date of signature: tt ' James EXCUSED CC: FI(RR/cP,So),AGT(co),GR(BB) 07/20/23 2023-1861 FI0078 CorrwaCt-IDif—ii coo BOARD OF COUNTY COMMISSIONERS PASS -AROUND REVIEW PASS -AROUND TITLE. Personal Property Tax Rebate Request — Aqua -Hot Heating Systems (Confidential) DEPARTMENT. Finance DATE 5/30/23 PERSON REQUESTING Cheryl Pattelli Brief description of the problem/issue Upstate Colorado is confidentially working with Aqua -Hot Heating Systems ("Aqua -Hot"), a manufacturer of hydrant heating solutions for motorhomes and travel traders Aqua -Hot was found in Weld County in 1989, opening their first location in Fort Lupton In 2013, the company expanded and relocated to Frederick The company has been leasing 7501 Miller Drive (Frederick), a 28,204 SF building since 2013, which they have now outgrown To secure their long-term future in Frederick and support their anticipated expansion, the company has purchased 7755 Miller Drive, a 43,919 SF building that is down the road for their existing facility Aqua -Hot hopes to occupy the new budding in August 2023, after the budding improvements have been completed As you will see on the attached Project Information Form, the total protect investment is estimated at $7 5M, of which $1 3M will be new equipment As part of the expansion, Aqua -Hot will be hiring 50 new full-time employees within 5 years and retaining 50 FTE from their existing operation The facility average wage is estimated at $36 19/hour or $75,290/year, which is 126% of the Weld County average wage of $28 60/hour or $59,501/year (2023, most current) The company estimates that 37% of their employment will reside in Weld County, with 13% residing in Fredenck, since that is their current make up Aqua -Hot will strive for the employment of 50% Weld County residents and will continue to work with ESWC and Aims CC As part of Aqua-Hot's expansion process, the company is looking to access any local resources that are available to them as they begin their expansion Based on the company's estimated equipment investment of $1 3M, a Weld County partial personal property tax rebate a estimated at $15,279 over 10 -years (depreciation schedule attached) Upstate Colorado has been working with Town of Fredenck staff regarding this project and the town is supportive of the proposed expansion/operation The town can administratively approve business development incentives for Aqua-Hot's proposed expansion, which they are in the process of finalizing The proposed budding is not in the Enterprise Zone, and the project is not eligible for JGITC, but Aqua -Hot may be able to take advantage of Colorado First/Existing lndustnes Training Grants The proposed manufacturing facility location/expansion meets the Weld PP tax rebate criteria of establishing a new business facility, strengthening the county's primary employment base, and further diversifying our manufacturing/production industry sector The company's annual average wage ($75,290/year) is 126% of the Weld County average wage of $59,501 and the company pays 90% of employee health premiums Based on the proposed location in Fredenck and the workforce required for this operation, Upstate Colorado believes that 50% Weld -residency is achievable over time Aqua -Hot has been a long time Weld/Frederick company and they are committed to retaining operations here as they expand Bruce Barker, Ryan Rose, and I recommend that, se order to approve the agreement, the BOCC should require Aqua -Hot to have 33 33% Weld -residency at the start of the PPT rebate agreement and 50% Weld -County residency within 7 years of the signed agreement What options exist for the Board? (include consequences, impacts, costs, etc of options) 1) Approve the PPT request with the above residency requirement recommended by Bruce Barker, Ryan Rose, and me Direct Finance to work with Upstate Colorado on an agreement with Aqua -Hot that will be brought to an upcoming BOCC meeting for final approval If approved at BOCC, Finance will include the additional $15,279 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 2023-1861 Recommendation: Weld County Finance, along with Upstate Colorado, recommends the Board approve Aqua-Hot's PPT rebate request. Perry L. Buck, Pro -Tern Mike Freeman, Chair Scott K. James Kevin Ross Lori Saine Approve Schedule Recommendation Work Session vi 0. teman Qom' U 6x, (Riad VtainitO Wifid Other/Comments Karla Ford From: Sent: To: Cc: Subject: Approve Sent from my iPhone Mike Freeman Tuesday, May 30, 2023 11:32 AM Kevin Ross Karla Ford; Perry Buck; Lori Saine; Scott James Re: Please Reply - May 30 2023 Pass Around_Aqua Hot PPT Rebate Request On May 30, 2023, at 11:03 AM, Kevin Ross <kross@weld.gov>wrote: I approve Kevin Ross From: Karla Ford <kford@weld.gov> Sent: Tuesday, May 30, 2023 10:49:34 AM To: Mike Freeman <mfreeman@weld.gov>; Perry Buck <pbuck@weld.gov>; Lori Saine <lsaine@weld.gov>; Scott James <sjames@weld.gov>; Kevin Ross <kross@weld.gov> Subject: Please Reply - May 30 2023 Pass Around_Aqua Hot PPT Rebate Request 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(a�weldgov.com :: www.weldgov.com **Please note my working hours are Monday -Thursday 7:00a.m.-S:00p.rn.** <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 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 thon the named recipient is strictly prohibited. From: Cheryl Pattelli <cpattelli@weld.gov> Sent: Tuesday, May 30, 2023 10:27 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_Aqua Hot PPT Rebate Request Karla- please send this pass -around to the Board for approval (3 of 3 today). Thanks! Karla Ford From: Sent: To: Cc: Subject: Approve Perry Buck Tuesday, May 30, 2023 3:07 PM Karla Ford Mike Freeman; Lori Saine; Scott James; Kevin Ross Re: Please Reply - May 30 2023 Pass Around_Aqua Hot PPT Rebate Request Sent from my iPhone On May 30, 2023, at 10:49 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 O Street, P.O. Box 758, Greeley, Colorado 80632 :: 970.336-7204 :: ktord(cweldgov.com :: www.weldgov.com **Please note my working hours are Monday -Thursday 7:00a.m.-5:00p.m.** <image001.jpg> Confidentiality Notice: This electronic transn ssion 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 10:27 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_Aqua Hot PPT Rebate Request Karla- please send this pass -around to the Board for approval (3 of 3 today). Thanks! <May 30 2023 Pass Around_Aqua Hot PPT Rebate Request.pdf> Karla Ford From: Sent: To: Cc: Subject: Approve ** Sent from my iPhone ** Scott James Tuesday, May 30, 2023 12:10 PM Karla Ford Mike Freeman; Perry Buck; Lori Saine; Kevin Ross Re: Please Reply - May 30 2023 Pass Around_Aqua Hot PPT Rebate Request Scott K. James Weld County Commissioner, District 2 1150 O Street, P.O. Box 758, Greeley, Colorado 80632 970.336.7204 (Office) 970.381.7496 (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 30, 2023, at 10:49 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{aweidgov.corn :: 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 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 10:27 AM 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: P ease Reply - May 30 2023 Pass Around_Aqua Hot 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 1O:50 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_Aqua Hot PPT Rebate Request Importance: High Please advise if you approve recommendation. Thank you! Karla Ford Office Manager, Board of Weld County Commissioners 1150 O Street, P.O. Box 758, Greeley, Colorado 80632 :: 970.336-7204 :: kford a.weldgov.corn :: www.weldgov..com 1 AGREEMENT PURSUANT TO C.R.S. 4 30-11-123 THIS AGREEMENT is made and entered into this 5_lay of July, 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 Aqua -Hot Heating Systems, LLC whose corporate address is Airxcel, Inc, 3050 N. St. Francis, Wichita, KS 67219, 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 7755 Miller Drive, Frederick, CO ("the Facility"), placed into service in Weld County in: August 2023, 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 2024 and ending 2033 (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 '0?3`/$y,/ 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 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 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 thirty-three and a third percent (33.3%) of its workforce employed at the Facility by opening of the Facility and a minimum of fifty percent (50%) of its workforce employed at the Facility seven years after opening of 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 numbers as a party may designate from time to time by notice given pursuant to this paragraph: If to the County: Board of County Commissioners P.O. Box 758 Greeley, CO 80632 With a Copy to: Weld County Attorney 1150 O Street Greeley, CO 80632 If to Taxpayer: Geoff Powell Controller Aqua -Hot Heating Systems 7755 Miller Drive Frederick, CO 80504 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 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 successors and assigns. 3 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. The above and foregoing Agreement was hereby approved on the day of 2023. ATTES '.+/� "• Weld dot n Clerk to BY: Deputy Cle APPROVED AS TO FUND.g A 4 BOARD OF COUNTY COMMISSIONERS ELTY,COLORAO L. Bud' . Pro-Tem JUL 0 5 2023 PPROVED AS TO SUBSTANCE: CFO Elected Official or Department Head APPROVED AS TO FORM: Cou y Attorney TAXPAYER: Aqua -Hot Heating Systems, LLC 4 lma Saliha ic, General Manger 070.23-/F1/ I [ FREDERICK] Built On What Matters FREDERICK/WELD COUNTY PROJECT INFORMATION FORM Company Name: Please rovide a brief project description (facility function, relocation, expansion, consolidation, etc.) below: Aqua -Hot grew about 30% over the last 3 years. Ir addtion, company released a new product that will place Aqua -Hot to grow even further. To sustain this rapid growth, we purchased building at 7755 Miller Drive that is 2x larger than our current location at 7501 Miller Drive Which of the following functions does the company derive 50+% of its income from: Descril [V]Manufacturing; I Processing; I Distribution; Research & Development; Aerospace Computer System/Software Product Development; Technical Support; I Energy Primary NAICS Code: (ifknown) Is 25% or more of annual gross income from direct retail sales? V Yes No Est. % of annual sales outside of Weld? 100 0/0 Outside of Frederick? 1000/0 Total Est. Investment (phase 1 building/land/equipment): $ $7.5M Acres Needed: Est. Investment: $ Required Zoning: Annexation Required? � ,Yes [_I No Address/Legal Description: cm c [VjExisting Building J�! INew Construction (Phase 2 - if applicable) Phase 1 Size: 44,000 sq. ft. Phase 2 Size: sq. ft. Phase 1 investment: $6.2M m Phase 2 Investment: $ CD P Please indicated infrastructure requirements below or list as "typical industrial use": Water (potable/non-potable; line size; gallons/day, etc. ?): 20,000/month Sewer (line size; pretreatment, etc. ?): n/a Infrastrt Require Gas (volume, etc?): 2,500 per month 1 Electrical (Amps; peak demand, etc.?): 7,000 kWh per month Rail Required: Res I Iv No Phase 1 New Equipment (depreciable personal property) Investment: $ 1.3M aEst. aEst. Phase 2 New Equipment (depreciable personal property) Investment: $ n/a Est. Value of existing equipment to be relocated: $ 5M di nt and Wages Existing Employment (if applicable) Existing Full-time Weld jobs: 50 Existing Part-time Weld Jobs: 0 New Employment - Phase 1 New Employment - Phase 2 (if applicable) New Full-time Jobs: 50 New Full-time Jobs: unknown New Part-time Jobs: 0 New Part-time Jobs: unknown New Construction Jobs: 10 estimated Existing Colo. Full-time Jobs Relocating to Proposed Facility: 50 ; from where? 7501 Miller Dr, Frederick 0 nia Existing Colo. Part-time Jobs Relocating to Proposed Facility: ; from where? Wage/Benefit Information Est. facility -wide, annual average wage at proposed facility: $ 75,290 /year (include facility mgmt.) 24 Est. average production wage at proposed facility: $ /hour Benefits are est. to be 18 % of salary/wage Company pays 90 % of employee health premium Other Employment Information Est. % of workforce that is/will be Weld resident: 37 %; Frederick resident: 13 wo Est. Training Cost/Employee: $500 Est. Construction Start: May 1, 2023 Est. New Job Hiring Start: August, 2023 ie Est. Operational Date: August 2023 Est. Phase 2 Start(ifapplicable) : n/a Please add any additional information below, as warranted: Da ny tad Fo Company Rep Name: Selma Salihagic Title: General Manager Email: ssalihagic@airxcel.com Phone: 303-478-9898 City/State: Frederick, Colorado Zip: 80504 o v - � U ✓This information is accurate and complete to the best of my knowledge. Date: . 5/2/2023 Thank you for your interest in locating/expanding in Frederick/Weld County. For questions or assistance in completing this form please contact either.' Max Daffron Economic Development Manager Town of Frederick 720-382-5537 mdaffron@frederickco.gov FREDERICK Built On What Matters Audrey Herbison, Director of Economic Development Upstate Colorado Economic Development 970-356-4565 aherbison@upstatecolorado.orq 'L \...� `• • -bNSW - UPSTATECOLORADO ECONOMIC DEVELOPMENT Supprntinq (oh Oppwhsnitirs In Gter?ry t'. Wvhd Cnt, ".I a Pr ' • 5/3/23, 9:39 AM Property Report Weld County PROPERTY PORTAL Property Information (970) 400-3650 Technical Support (970) 400-4357 Account: R7056898 May 3, 2023 Account Information Account I Parcel Space Account I Tax Buildings Actual Assessed I Type Year Value Value R7056898 131326202007 ( i Industrial ! 2023 ( 1 6,300,000 I 1,757,700 Legal FRE 2FWBC L7 BLK2 FREDERICK WEST BUSINESS CENTER FG #2 Subdivision I FREDERICK WEST BUSINESS CENTER FG#2 Block I Lot ; Land Economic Area 7 FREDERICK WEST ( BUSINESS CENTER Property Address Property City I Zip 1 Section (. Township I Range 7755 MILLER DR FREDERICK 26 02 1 68 I Account Owner Name H AQUA -HOT HEATING 7501 MILLER DR FREDERICK, CO R7056898 SYSTEMS LLC ; 805045573 Owner(s) Address Valuation Information https://propertyreport.weld.gov/?account=R7056898 1/2 5/3/23, 9:39 AM Property Report Totals Type Improvement j 3215 3115 MANUFACTURED/PROCESSING- I LAND 1 Code I Description MANUFACTURED PROCESSING - IMPS Actual Value Assessed Value Acres Land SqFt 5,453,085 846,915 6,300,000 1,521,410 0.000 0 236,290 3.535 153,985 1,757,700 I 3.535 j 153,985 1_ I Comparable sales for your Residential or Commercial property may be found using our SALES SEARCH TOOL Tax Authorities Area 1 District District Name Current Mill Levy 1459 0900 CARBON VALLEY REC 4.427 F- I 1459 0408 FREDERICK TOWN 6.555 1459 0507 FREDERICK -FIRESTONE FIRE 15.394 F__, 1459 1050 j i HIGH PLAINS LIBRARY 3.181 I 1459 0301 NORTHERN COLORADO WATER 1.000 (NCW) 1459 0213 SCHOOL DIST RE1J-LONGMONT 58.385 1459 0620 ST VRAIN SANITATION 0.373 1459 0100 H WELD COUNTY 15.038 Total { - 104.353 Copyright © 2023 Weld County, Colorado. All rights reserved. Privacy Statement & Disclaimer IAccessibility Information https://propertyreport.weld.gov/?account=R7056898 2/2 Personal Property Tax Refund Incentive Worksheet Aqua Hot 7755 Miller Drive, Frederick May, 2023 Frederick 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 Frederick and Weld County will each approve a 50% refund request for 10 years. This refund is subject to formal government(s) approval. Project Assumptions: New Equipment: $1,300,000 Location: 7755 Miller Drive, Frederick Current Total Mill Levy: 104.353 mills Weld Levy - 15.038 mills Frederick Levy - 6.555 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 7755 Miller Drive, Frederick - Tax Area 1459 Current Mill Levy -104.353 mills Taxing Jurisdictions: Carbon Valley Rec - 4.427 mills; Frederick Town - 6.555 mills; Frederick -Firestone Fire -15.394 mills; High Plains Library - 3.181 mills; Northern Colorado Water - 1.000 mills; School Dist RE1J-Longmont - 58.385 mills; St Vrain Sanitation - 0.373 mills; Weld County -15.038 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. f Yr. 9 Yr. 10 $1,300,000 377,000 346,840 312,910 278,980 248,820 214,890 180,960 150,800 124,410 98,020 75,400 36,194 32,653 29,112 25,965 22,424 18,884 15,736 12,983 10,229 7,868 10 YR TOTAL ESTIMATED PP TAX DUE: $212,048 Note: Above calculation does not include real property taxes (building & land). Entities able to refund: PP taxes to Weld County: 5,216 4,706 4,195 3,742 3,232 2,721 2,268 1,871 1,474 1,134 PP taxes to Frederick: 2,274 2,051 1,829 1,631 1,409 1,186 988 816 643 494 Total 7,489 6,757 6,024 5,373 4,640 3,907 3,256 2,686 2,117 1,628 50%Waiver 3,745 3,378 3,012 2,686 2,320 1,954 1,628 1,343 1,058 814 10 YR TOTAL ESTIMATED PP TAX REFUND: $15,279 Weld County Refund Estimate $6,660 Municipal Refund Estimate $21,939 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* UPSTATE COLORADO ECONOMIC DEVELOPMENT Entity ID* -2©000760 ❑ New Entity? Contract Name * Contract ID PERSONAL PROPERTY TAX REBATE AGREEMENT - AQUAHOT 7160 HEATING SYSTEMS Contract Status CTB REVIEW Contract Lead* CPATTELLI Contract Lead Email cpattelic0co.weld.co.us Contract Description* PERSONAL PROPERTY TAX REBATE AGREEMENT WITH AQUAHOT HEATING SYSTEMS Contract Description 2 Contract Type* AGREEMENT Amount* $15,279.00 Renewable* NO Automatic Renewal Grant Department FINANCE Department Email CM-Financeioweldgov.com Department Head Entail CM-Finance- DeptHeadAweldgov.com County Attorney GENERAL COUNTY ATTORNEY EMAIL County Attorney Email CM- COU NTYATTORNEYAWELDG OV.COM Requested BOCC Agenda Date* 06/26/202.3 Parent Contract ID Requires Board Approval YES Department Project Due Date 06!22;'2023 Will a work session with 8OCC 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* 06:22//2023 Renewal Date Termination Notice Period Committed Delivery Date Expiration Date x 06; 30/2033 Contact Information Contact Info Contact Name Contact Type Contact Email Contact Phone I Contact Phone 2 Purchasing Purchasing Approver Purchasing Approved Date Approval Process Department Head Finance Approver Legal Counsel CHERYL PATTELLI CHERYL PATTELLI BRUCE BARKER DH Approved Date Finance Approved Date Legal Counsel Approved Date 06'22/2023 06/22:2023 06,28?2023 Final Approval BOCC Approved Tyler Ref # AG 070523 BOCC Signed Date BOCC Agenda Date 07/05,2023 Originator CPATTELLI Hello