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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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8/26/2015 4:23:52 PM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2015-94
Date
7/21/2015
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Section 3.03. Operation of Business. Amazon and its Affiliates shall begin operation <br />of the Business on or before January 1, 2017, and shall continuously operate, maintain and <br />manage the Business for the duration of the Term. <br />Section 3.04. Compliance with Laws. In performing its obligations under this Article, <br />Amazon and its Affiliates shall comply with all applicable laws, regulations and ordinances with <br />respect to the Project and this Agreement. <br />ARTICLE IV <br />CHAPTER 380 PAYMENTS FROM THE CITY <br />Section 4.01. Chapter 380 Payments. Subject to the requirements and limitations of <br />this Article, other terms and conditions of this Agreement and Amazon's compliance with its <br />obligations under this Agreement, up to 20 Chapter 380 Payments (not including any subsequent <br />request in connection with a Chapter 380 Payment to secure previously withheld Chapter 380 <br />Payments or incorrectly calculated Chapter 380 Payments) may be requested by Amazon and <br />paid by the City. <br />Section 4.02. Process for Payment. Beginning in the year 2018, and once each year <br />thereafter, until and including the year 2037, Amazon may request a Chapter 380 Payment by <br />written application submitted to the City Manager of the City. The City shall not be required to <br />make a Chapter 380 Payment for any applicable calendar year until: <br />a. Amazon submits to the City a compliance certificate in substantially the <br />form attached as Exhibit "C" (the "Compliance Certificate ") together with all information <br />required under the Compliance Certificate necessary to verify Amazon's material <br />compliance with its obligations under this Agreement for the preceding year; <br />b. the City has received Personal Property Taxes or Real Property Taxes for <br />the preceding year from the Hays County Tax Assessor - Collector; <br />6 <br />
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