11 - Resolution Approving Agreement to Terminate Tax Abatement Agreement with Campbell Soup

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d) Any project with a capital investmerd of mom than tan million dollars($] 0,000,000), I q) If a newly created business is located or wig locate within an Enterprise Zone, an additional 10 to 20% Abateisir nt may be available as individually negotiated, with total abatement not to exceed 100%. NX r7w TT MITTTUM M=T, - I, - , - I The City recognizes a significant difference in the valuation of real property and Drow Because of dwreciation "" *& ".(:rrt A lfj-67�7707773 fUT-07-37MMIMMIM L7j�,-7M7xj-I pr3,Mnjr7SFVTvM5 property is significantly diffmwt If personal property should become obsolete and be replaced while under an abatement agreemM the replacement personal property is not eligible for aYatement. a) To be eligible for any tax abawinent on Personal Property, there must be a minimum i n v e-Vom -a 1 M111 b) When an abatement percentage has been agreed upon it shall be granted for years 6 `�'A - - mal Alaar Tim 'IC;'�k) Ming- 4TIV % 74 -tj (--,Jrn I IM F -L -,Al LIrOC :t U d LR I u 100% of the Real Property valuation is added to the tax rolls. :91MU47't MW#71771ff F - i o i - I ; 4 0 d) Any project with a capital investnent in personal property of mom than ftee million dollars ($3,000,0001 accompanied by a newly creaftd minimum annual payroll of two and one- half million dollars (S7,500,000), or creating more than two hundred twenty-five (225) new Jobs will be individually negotiated. No abatement will be granted for more Ow specified in state law. R111 115, 1M aMOOTITO 171 - MOMIRMfl HAIgsW77 fjj*js'TMTM MM F.Wil'Tir"I)S11M M d) Any project with a capital investnent in personal property of mom than ftee million dollars ($3,000,0001 accompanied by a newly creaftd minimum annual payroll of two and one- half million dollars (S7,500,000), or creating more than two hundred twenty-five (225) new Jobs will be individually negotiated. No abatement will be granted for more Ow specified in state law.