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Res 2021-157/approving a Chapter 380 Economic Development Incentive Agreement with Project Robot, providing incentives in the form of refunds of a percentage of real property taxes
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Res 2021-157/approving a Chapter 380 Economic Development Incentive Agreement with Project Robot, providing incentives in the form of refunds of a percentage of real property taxes
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10/13/2021 11:39:23 AM
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9/1/2021 8:19:51 AM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2021-157
Date
8/17/2021
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<br />Tenant, as applicable), the addition of Real Property Improvements (as defined below), <br />Personal Property, and the creation of Jobs . <br /> Section 2.10. Real Property Improvementsmeans such improvements to real <br />property on the Land, other than Personal Property, subject to ad valorem tax assessment. <br />Section 2.11. Term <br />Date and continue until December 31, 2034 (unless terminated sooner as provided in this <br />Agreement), except that CompanyCompliance Certificate (as <br />defined in Section 4.03(a) hereof) for the year 2034 as provided under Section 7.02, <br />together with any other information as may requested by the City under Article VII, and <br />the year 2025 shall continue until satisfied, subject to the limitations of this Agreement. <br />ARTICLE III <br />CONDITIONS FOR GRANT PAYMENT ELIGIBILITY <br /> <br />Section 3.01. Lease Agreement. On or before September 1, 2021, Company and <br />Tenant shall enter into an agreement for the lease of the entirety of the Facility for purposes <br />the length of the Term of this Agreement. <br />Section 3.02. Construction of Building Improvements by or for Tenant. <br />Company or Tenant shall begin construction of improvements to the Facility on or before <br />October 31, 2021, subject to any extensions due to events of force majeure. For purposes <br />of this Agreement, the date of beginning of construction shall be the date on which a <br />building permit for such improvements is issued by the City. Company or Tenant shall <br />complete construction no later than May 31, 2022, subject to any extensions approved by <br />the City Manager of the City, or his designee, due to events of force majeure. For purposes <br /> <br /> <br />
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