Agenda - 11/18/2016 - Special Meeting
NOVEMBER 18, 2016 - SPECIAL MEETING OF THE WOODBURY COUNTY BOARD OF SUPERVISORS
The Board of Supervisors met on Friday, November 18, 2016, at 1:00 p.m. Board members present were Taylor, Monson, and Ung; Clausen and Smith were absent. Staff members present were Patrick F. Gill, Auditor/Clerk to the Board.
The meeting was called to order.
Motion by Taylor second by Monson to approve and authorize the Chairperson to sign a Resolution approving the application of Gelita USA, Inc. to the Iowa Economic Development authority high quality job program.
A RESOLUTION OF THE WOOBURY COUNTY BOARD OF SUPERVISORS
APPROVING THE APPLICATION OF GELITA USA, INC TO THE
IOWA ECONOMIC DEVELOPMENT AUTHORITY
HIGH QUALITY JOBS PROGRAM
WHEREAS, it is a governmental function of Woodbury County to facilitate economic development in Woodbury County, and within its purview to consider offering economic development incentives that are fair to both the citizens of Woodbury County and to a prospective business opportunity; and
WHEREAS, Woodbury County is a duly recognized political subdivision of the State of Iowa acting under the laws of the State of Iowa; and
WHEREAS, the Board of Supervisors is the duly elected governing body of Woodbury County, Iowa; and
WHEREAS, Woodbury County has received a request from Gelita USA, Inc. (hereinafter referred to as “Company”), to approve and submit an application to the State of Iowa for the Economic Development High Quality Jobs Program, and
WHEREAS, the program was established to promote economic development and job creation in the State of Iowa, and
WHEREAS, Woodbury County supports activities which promote and facilitate economic development within Woodbury County, and
WHEREAS, in the application, the Company has indicated that they will:
- Create 21 new full-time positions.
- Provide comprehensive health benefits to its employees.
- Make a capital investment of approximately $21,990,000.
NOW, THEREFORE, BE IT RESOLVED by the Woodbury County Board of Supervisors:
- The Woodbury County Board of Supervisors hereby approves the application of the Company for the purpose of receiving benefits from the High Quality Jobs Program.
- The Woodbury County Board of Supervisors hereby authorizes the Chairman to sign the High Quality Jobs Program application on behalf of the County and to take such further actions as deemed necessary in order to carry into effect the provisions of this Resolution, which shall include that a formal Development Agreement be drafted, which shall be presented, at a later date to the Woodbury County Board of Supervisors for public hearing and vote thereon, that shall include an economic development incentive package with terms and conditions set forth as the local match requirement.
- The Woodbury County Board of Supervisors understands the local match requirement of the Iowa Economic Development Authority and hereby approves a local match in the following amount, form and terms:
- $499,612 in tax rebates via tax increment financing.
- Minimum property assessment of $5,000,000 on the new and expanded facility.
- Tax rebate of 100% on the new taxable value created by the project until completion of construction.
- Upon completion of construction, tax rebates of $120,388 in Year 1, $114,369 in Year 2, $102,330 in Year 3, $90,291 in Year 4, and $72,233 in Year 5.
PASSED, APPROVED, AND ADOPTED this 18th day of November, 2016.
WOODBURY COUNTY BOARD OF SUPERVISORS
The Board adjourned the meeting.
Meeting Sign In Sheet. Copy Filed.