HomeMy WebLinkAbout20202782.tiffRESOLUTION
RE: APPROVE AGREEMENT PURSUANT TO C.R.S. §30-11-123 AND AUTHORIZE CHAIR
TO SIGN - VESTAS BLADES AMERICA, 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 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 Vestas Blades America, 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 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 Vestas Blades America, 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 14th day of September, A.D., 2020.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: datdeo ;
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Weld County Clerk to the Board
BY:
21
Deputy Clerk to the Board
APP VED AS Tf ; ,�, y};4 )
`^T 4�
151 vi f:arbara Kirk
Mike Freeman, Chair
Steve Eloreno, Pro -Tern
aunty ' orney
Kevin D. Ross
Date of signature. f23 42.
C c: F1 C /so) AcT (Bc ICD),G A NS),
PL('rP),Town oFndsor
09/23/.20
2020-2782
F10071
AGREEMENT PURSUANT TO C.R.S. § 30-11-123
THIS AGREEMENT is made and entered into thisl4thday of Sept, 2020, 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
Vestas Blades America, Inc. whose address is 11140 Eastman Park Dr, Windsor, CO 80550,
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:
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 11140 Eastman Park Dr, Windsor, CO 80550 ("the Facility"), placed into
service in Weld County in:
a. Between 2020-2028 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 (hereinafter referred to as, "10 -Year Term").
Individual pieces of personal property place in service between the years of 2020-
2028 shall only receive the fifty -percent (50%) of the amount of personal property
taxes paid by the Taxpayer for personal property for the 10 -Year Term. For
example, equipment placed in service in 2020 will receive the fifty -percent (50%)
of the amount of personal property taxes paid by the Taxpayer for personal property
for the 10 -Year Term beginning in 2021 and ending in 2030, for equipment placed
in service in 2021 the 10 -Year Term beginning in 2022 and ending in 2031, for
1 2020-2782
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.
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 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:
If to Taxpayer:
Weld County Attorney
1150 O Street
Greeley, CO 80632
Hans Jespersen
VP/GM
Vestas Blades America
11140 Eastman Park Drive
Windsor, CO 80550
HJS (D,vestas.com
970-674-6200
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.
3
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.
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 14tlday of
A.D., 2020.
ATTEST: dsdrtiffA)
Weld County (.1erx to the
BY:
eputy Clerk to the
Controller
Sept.,
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
C
ike Freeman, Chair
SEP 1 4 2020
APPROVED AS TO SUBSTANCE:
."&/1
Elected Official or Department Head
TAXPAYER:
Vestas Blades A rerica
By:
4
(
Hans Jespe •en, VP / GM
026�� - 02782,
Esther Gesick
Subject:
Attachments:
FW: Vestas Multi -Year Expansion Project
WC PPT Incentive Agreement_Vestas Signed_02Sept2020.pdf
From: Don Warden <dwarden@weldgov.com>
Sent: Wednesday, September 2, 2020 9:29 AM
To: Esther Gesick <egesick@weldgov.com>
Subject: FW: Vestas Multi -Year Expansion Project
Will you put this on the BOCC agenda for Monday. September 14th. I will be there to present it.
Donald D. Warden
Director of Finance and Administration
Finance and Administration
PO Box 758
1150 O Street
Greeley, CO 80632
tel: 970-356-4000 Extension 4218
email: dwarden@co.weld.co.us
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: Audrey Herbison <aherbisonc uostatecolorado.org>
Sent: Wednesday, September 2, 2020 7:11 AM
To: Don Warden <dwarden@weldgov.com>
Subject: RE: Vestas Multi -Year Expansion Project
d;aaatia x1: This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the
sender and know the content is safe.
Morning Don,
Attached is the signed Vestas agreement. Please let me know if there is anything else I should provide. Thank you!
Audrey Herbison
Economic Development Manager
Upstate Colorado Economic Development
822 7th Street, Suite 550
1
Greeley, CO 80631
(970) 356-4565
jpstateColorado.org
NoCoREDL.com
Weld County Business Recovery Program WeldRecovery.com
NoCo COVID-19 Resources NoCoRecovers.com
From: Don Warden <dwarden@weldgov.com>
Sent: Monday, August 31, 2020 11:28 AM
To: Audrey Herbison <aherbison@upstatecolorado.org>
Subject: RE: Vestas Multi -Year Expansion Project
Good catch. Yes, we should change it the $298,294 amount. I have changed it on the attached agreement.
Donald D. Warden
Director of Finance and Administration
Finance and Administration
PO Box 758
1150 O Street
Greeley, CO 80632
tel: 970-356-4000 Extension 4218
email: dwarden@co.weld.co.us
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: Audrey Herbison<aherbisonPupstatecolorado.org>
Sent: Monday, August 31, 2020 9:54 AM
To: Don Warden <dwarden@weldgov.com>
Subject: RE: Vestas Multi -Year Expansion Project
(Caution: This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the
sender and know the content is safe.
Thank you, Don. I will send this to the company for signature.
In light of the new investment estimate, did you want me to change the new max amount to $298,294, or would you like
to keep it at the original $397,725 (in case the investment returns to the initial projection)? Please let me know when
you get a chance. Thank you!
Audrey Herbison
Economic Development Manager
2
Upstate Colorado Economic Development
822 7th Street, Suite 550
Greeley, CO 80631
(970) 356-4565
www.UpstateColorado.org
From: Don Warden <dwarden@weldgov.com>
Sent: Monday, August 31, 2020 9:27 AM
To: Audrey Herbison <aherbison@upstatecolorado.org>
Subject: FW: Vestas Multi -Year Expansion Project
This what I sent Cathy on July 31st.
Donald D. Warden
Director of Finance and Administration
Finance and Administration
PO Box 758
1150 O Street
Greeley, CO 80632
tel: 970-356-4000 Extension 4218
email: dwarden@co.weld.co.us
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: Don Warden
Sent: Friday, July 31, 2020 1:43 PM
To: 'Cathy Schulte' <cschulte@upstatecolorado.org>
Subject: RE: Vestas Multi -Year Expansion Project
Meant to attach the agreement, if the change with the maximum $397,725 is okay.
Donald D. Warden
Director of Finance and Administration
Finance and Administration
PO Box 758
1150 0 Street
Greeley, CO 80632
tel: 970-356-4000 Extension 4218
email: dwarden@co.weld.co.us
3
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: Don Warden
Sent: Friday, July 31, 2020 1:40 PM
To: Cathy Schulte <cschulte@upstatecolorado.org>
Subject: RE: Vestas Multi -Year Expansion Project
I am doing fine, and hope you are also. Crazy times with COVID. I am fine with the multi -year agreement. Just checking
before I send it. The total amount of incentives over the period is still estimated to be $397,725, correct? I have added
the following to handle the multi -year agreement and put an estimated maximum amount. I think our auditors would
want the estimated amount listed. Will this work for them?
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 11140 Eastman
Park Dr, Windsor, CO 80550 ("the Facility"), placed into service in Weld County in:
a. Between 2020-2028 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
(hereinafter referred to as, "10 -Year Term"). Individual pieces of personal property place in service
between the years of 2020-2028 shall only receive the fifty -percent (50%) of the amount of
personal property taxes paid by the Taxpayer for personal property for the 10 -Year Term. For
example, equipment placed in service in 2020 will receive the fifty -percent (50%) of the amount
of personal property taxes paid by the Taxpayer for personal property for the 10 -Year Term
beginning in 2021 and ending in 2030, for equipment placed in service in 2021 the 10 -Year Term
beginning in 2022 and ending in 2031, for equipment placed in service in 2022 the 10 -Year Term
beginning in 2023 and ending in 2032, etc.
b. The total estimated maximum incentive payment over the period of the agreement is $397,725
based upon the current Weld County mill levy.
Donald D. Warden
Director of Finance and Administration
Finance and Administration
PO Box 758
1150 O Street
Greeley, CO 80632
tel: 970-356-4000 Extension 4218
email: dwarden@co.weld.co.us
4
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: Cathy Schulte <cschulte@upstatecolorado.org>
Sent: Friday, July 31, 2020 8:35 AM
To: Don Warden <dwarden@weldgov.com>
Cc: Audrey Herbison <aherbison@upstatecolorado.org>
Subject: Vestas Multi -Year Expansion Project
Caution This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the
sender and know the content is safe.
Morning Don,
Hope all is well in your world . As you'll recall, last year we worked with Vestas on their multi -year (2020-2028)
expansion project - Phase 1&2 value of $80M with an estimated total county rebate value of $397,725. A 2019 PP tax
agreement was completed.
They're now requesting a 2020-2028 PP tax agreement per the expansion project. Attached is the Weld support letter,
PIF and PP Tax worksheet that was completed last year. While I know it's not your preference, would a multi -year
agreement make sense for this project? Below is language I pulled from the multi -year Smuckers agreement with date
modifications. Or, do you still want to have them do an annual agreement?
"Between 2020-2028 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 (hereinafter referred to as, "10 -Year Term"). Individual pieces of personal property placed in service between
the years of 2020-2028 shall only receive fifty -percent (50%) of the amount of personal property taxes paid by the Taxpayer for
personal property for the 10 -Year Term. For example, equipment placed in service in 2020 will receive fifty -percent (50%) of the
amount of personal property taxes paid by the Taxpayer for personal property for the 10 -Year Term beginning in 2021 and ending in
2030, for equipment placed in service in 2021 the 10 -Year Term beginning in 2022 and ending in 2031, for equipment placed in
service in 2022 the 10 -Year Term beginning in 2023 and ending in 2032, etc."
Let me know your thoughts and if you need anything else from me. Thanks so much!
Cathy
Cathy L. Schulte, CEcD
Senior Vice President & Weld County EZ Administrator
5
Upstate Colorado Economic Development
970-356-4565
cschulteC@upstatecolorado.orq
6
Hello