|
J
<br />A TRUE COPY
<br />GERTIRCA71OR ON LAST PAGE
<br />J.K. BARTON, CLERK
<br />ECONOMIC DEVELOPMENT AD VALOREM TAX EXEMPTION AGREEMENT
<br />FOR MOS NEW PLANET BIOENERGY LLC FACILITY AT
<br />925 74Th AVENUE SW, VERO BEACH, FLORIDA
<br />THIS AGREEMENT is entered into as of the 2& day of December, 2011, by and between
<br />Indian River County, a political subdivision of the State of Florida ("County') and INEOS New Planet
<br />BioEnergy, LLC, a limited liability company, organized and existing under the laws of the State of
<br />Delaware ("Business").
<br />WEMAS, County has adopted the Indian River County Economic Development Ad
<br />Valorem Tax lrxemption Ordinance ("Ordinance"), set forth in Title XI of the Indian River -County
<br />Code ("Code"), and
<br />WFIEREAS, County has adopted Ordinance No. 2011 -01
<br />granting an economic development...3_ ("Exemption Ordinance,)
<br />ad valorem tax exemption ("Exemption') to Business, and
<br />WHEREAS, the Ordinance and the Exemption Ordinance both provide that the Exemption
<br />sball not be effective until County and Business enter into this Economic Development Ad Valorem
<br />Tax Exemption Agreement ("Agreement"),
<br />NOW, THEREFORE, in consideration of the mutual undertakings herein and other good and
<br />valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
<br />hereby agree, as follows:
<br />I. Recitals. The above recitals are true and correct and are incorporated herein.
<br />2. Definitions. Unless otherwise stated, all capitalized terms herein shall have the
<br />meaning set forth in the Ordinance.
<br />3. Business' Representations, Covenants and Warranties. At all times during the term
<br />of the Exemption, Business represents, covenants and warrants to County that; (a) all information
<br />submitted by Business in the Application is, and was at the time of submittal, true and correct, (b) all
<br />information submitted by Business in any annual report submitted pursuant to section 1100.10(b) of
<br />the Code will be, at the time of submittal; true and correct, (c) each representation previously made by
<br />Business to County's Board of County Commissioners in a public meeting was, and each
<br />representation made by Business to County's Board of County Cornrnissioners in the future will be, at
<br />the time of such representation, true and correct, (d) ' Business will fully perform and remain in full
<br />compliance with all Exemption Requirements and all requirements of this Agreement, (e) without
<br />limitation, Business will establish and continue to provide all jobs required for Business to qualify as a
<br />New Business, as defwed in the Ordinance ("Jobs'), (f) without Imitation, the average wage paid by
<br />Business with respect to the Jobs during each calendar quarter will be equal to or greater than the
<br />average wage represented by Business in the Application, and (g) Business has not committed and will
<br />not commit any Violation of Law (each of subpat-Waphs (a) through (f), " Commitment').
<br />4. Annual Reports. On or before January I P of each year, beginning in 2013 and ending
<br />in 2022, the applicant shall submit a status report to the County Community Development Department.
<br />At a minimum, the report shall include the name, address, and contact infommtion of the current owner
<br />Fruosnou�,,�rir. r«o.,�m.....uk
<br />AIT.-ACHM 3
<br />109
<br />P43
<br />
|