2019-024 - Approving an Addendum to Tax Abatement Agreement dated November 25, 2008 with Campbell Soup relating to the Company's Single Serve Beverage Line and Authorizing an Agreement with the Company to Terminate same

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Campbell Soup Documents Summary August 2008 Board minutes reflect the following: Executive session ended at 6:35 p.m. John Wright made a motion to approve an expansion incentive agreement ibr Campbell Soup where the PEDC advocates: • 100% real and personal property tax abatement over ten (10) years with the City, County and PJC on their new product line entitled Fusion. • $227.500.00 toward the training of 65 new employees related to the new production line. • And $3800.00 cash grant for each new permanent employee, related to the expansion, over their current total workforce of 800. The total not to exceed $250,000.00. The motion passed unanimously on a second by Dick Severson. November 2008 Tax abatement agreement executed between Soup and City and County March 2009 Found draft of Incentive Agreement saved on Director's computer. NOTE—I have found NO signed copy of this document. Draft references the following incentives: a Creation oi'65 FTE jots. retention of 1000 current FTE jobs, $3500 for each new FTE job created above 1000 (page 1. paragraph 6) $227.000 for workforce development and training Agreement effective as of March 1, 2009, effective for 60 months (page 2, paragraph 1) Maintain at least 1000 jobs (page 2, paragraph 4) • $3500 paid for each additional FTE over 1000, not to exceed $250,000 (page 2, paragraph 6) • $227.000 for workforce development and/or training (page 2, paragraph 8) • Maintain a workforce of no less than 1000 ITE (page 2, paragraph 9) June 2009 PEDC board meeting minutes from June 9"' reference board approval of the following for Soup: As a result of executive session discussion. the board authorized an incentive package for Campbell Soup of up to $100,000 for training and up to a $100,000 cash grant upon net gain and maintaining of employees above their current employment level. The action passed unanimously an a motion by Dan Smith. seconded by John Wright. Found letter dated June 23�d with electronic signature of Director. NOTE—there is no indication of whether or not this letter was sent to Soup. The letter references the following incentives as approved by the PEDC board for Cold Blend expansion: $100.000 in workforce training finds • $5000 per additional FT over and above 850 employees_ not to exceed $50,000 October 2009 Received letter lrom Soup requesting payment of'S475,000 in incentives ($225.000 cash grant, $250,000 workforce development/training funds). Enclosed with letter is an incentive agreement between Soup and PEDC. NOTE—the enclosed agreement is NOT fully executed (only signed