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Res 2015-094/approving a Chapter 380 Economic Development Incentive Agreement with Amazon.com.kydc, LLC, providing incentives in the form of annual refunds of 85 percent of ad valorem taxes generated from personal property over fifteen years, 40 percent
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Res 2015-094/approving a Chapter 380 Economic Development Incentive Agreement with Amazon.com.kydc, LLC, providing incentives in the form of annual refunds of 85 percent of ad valorem taxes generated from personal property over fifteen years, 40 percent
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Resolutions
City Clerk - Type
Approving
Number
2015-94
Date
7/21/2015
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Avenue and intersecting the first proposed public street, also as illustrated in Exhibit "B." <br />Dedication of the real property for this public- right -of way shall be deferred to a date <br />after platting of the Land. A 160 foot wide reserve tract for this public- right -of -way <br />dedication shall be included on the subdivision plat for the Land, together with a plat note <br />indicating that the owner of the Land shall dedicate such right -of -way upon request of the <br />City consistent with this paragraph. <br />C. Waiver of Construction Obligation. Pursuant to the City's authority <br />under Section 1.4.4.1 of the LDC, the City hereby waives the requirement under Chapter <br />7, Articles 1 and 4 of the LDC for Amazon, the owner of the Land or any developer that <br />constructs the Real Property Improvements to construct, cause the construction of, or pay <br />for any public street improvements, including related sidewalks and curbing, for the two <br />streets identified in subsection (a) and (b). Except as specifically stated in this section <br />5.02, the City grants no other waivers of requirements under the LDC. <br />ARTICLE VI <br />REPRESENTATIONS AND WARRANTIES OF AMAZON <br />As of the Effective Date, Amazon represents and warrants to the City, as follows: <br />Section 6.01. Organization. Amazon is a limited liability company duly organized, <br />validly existing and in good standing under the laws of the State of Delaware and authorized to <br />conduct business in the State. The activities that Amazon and its Affiliates propose to carry on at <br />the Land may lawfully be conducted by Amazon and its Affiliates. <br />Section 6.02. Authority. The execution, delivery and performance by Amazon of this <br />Agreement are within Amazon's powers and have been duly authorized. <br />Section 6.03. Valid and Binding Obligation. This Agreement is the legal, valid and <br />binding obligation of Amazon, enforceable against Amazon in accordance with its terms except <br />10 <br />
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