HomeMy WebLinkAbout20192332.tiffRESOLUTION
RE: APPROVE AGREEMENT PURSUANT TO C.R.S. §30-11-123 AND AUTHORIZE CHAIR
TO SIGN - J.M. SMUCKER, 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 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 J.M. Smucker, LLC, with 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 J.M. Smucker, LLC, 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 19th day of June, A.D., 2019.
ATTEST:d
atAvo
Weld County Clerk to the Board
BY:
a vuL
eputy Clerk to the Board
APPRWED . ►r ORM
County Attorney
Date of signature OW 7 I
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Barbara Kirkmeyer, Chair
Mike Freeman, Pro-Tem
EXCUSED
Sean ? Conway
ott K. James
Steve Moreno
Cc.: FT COW/ JO), PLC TP)
oLc+(Esc(CQ),GaCBB)
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2019-2332
F10069
AMENDMENT TO AGREEMENT PURSUANT TO C.R.S. & 30-11-123
THIS AMENDMENT TO AGREEMENT ("Amendment") is made and entered into 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 J.M. Smucker
LLC, an Ohio limited liability company, with Colorado address of 545 Highway 119, Longmont,
CO 80504 (the "Facility") and referred to hereinafter as "Taxpayer" or the "Company", to be
effective upon signing by both parties. All capitalized terms used but not defined herein shall have
the respective meanings ascribed to such terms in the Agreement (as defined below).
WITNESSETH:
WHEREAS, Taxing Authority and Company entered into an agreement dated March 8,
2017 (the "Agreement"), desiring 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 in Weld County or who
expand existing business facilities in Weld County, and
WHEREAS, Paragraph 5 of the Agreement in accordance with C.R.S. § 30-11-123
provides that the Taxing Authority would rebate fifty -percent (50%) of the amount of personal
property taxes paid by the Taxpayer during the Rebate Term attributable to Eligible Property, and
WHEREAS, both parties to this Amendment wish to amend Paragraph 5 of the Agreement
to provide that the Taxing Authority would rebate fifty-six percent (56%) of the amount of personal
property taxes paid by the Taxpayer during the Rebate Term attributable to Eligible Property.
NOW, THEREFORE, the parties hereto hereby agree to amend Paragraph 5 of the
Agreement to the following:
5. Rebate of Personal Property Tax. Subject to annual appropriation by Taxing Authority,
fifty-six percent (56%) of the amount of personal property taxes paid by the Taxpayer
during the Rebate Term attributable to Eligible Property ("Tax Incentive Payments") shall
be paid to the Taxpayer by the Taxing Authority. 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,
is Eligible Property, during each Rebate Term. The amounts so certified shall be subject
to review by the Weld County Assessor. Any Tax Incentive Payments made pursuant to
this Agreement shall be rebates of taxes assessed and paid and shall not be deemed to
reduce the assessed value of, or the levy of taxes upon, any property within Weld County
for the purposes of Article XIV, Section 14-7 of the Home Rule Charter of Weld County.
2019-2332
The above and foregoing Amendment was hereby accepted and approved on the 12th day
of June, A.D., 2019.
ATTEST:,1sofejto;ei
Weld ointy Clerk to t . e B t and
BY:
Deputy Cletk to the Bo
APPROVED AS TO FUND
Controller
BOARD OF COUNTY COMMISSIONERS
W;F edD COUNTY, COI IO .ADO
41.
bara Kirkmeyer, .hair
JLNIS2WS
PPR VEt .S O BS" ANCE:
Elected Official or Department Head
Accepted and agreed on the28thd.ay of. ay, 2019.
TAXPAYER: J. M Smucker LLC, an Ohio
limitedliability company
y:
Name:.ffi k R. Bel ya
Its: Vice Chair. and Chief Financial Officer
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