O-1998-2284 - Laserfiche WebLink

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e e CGcg--:\ ,,\ f~::..' \' , , u U--" '. equipment listed on advancea specialty to be installed shall be done according to the budget Exhibit "C", for the purposes of the manufacturing of intermediate and active pharmaceutical ingredients, isocyanate chemicals and other specialty chemicals. (b) The Owner represents that no interest in the Real or Abated Property is held or leased by a member of the City Council or a member of the city's Planning Commission. (c) The Owner represents and warrants that the value of the Abated Property will increase by at least Fifty Million and NO/100' Dollars ($50,000,000.00) by January 1 following the completion of the Construction Period. The Owner shall render all Personal Property to HCAD annually. The Owner represents and warrants that the portion of Personal Property (excluding supplies, inventory, work in process, finished goods and raw materials) shall be rendered annually with HCAD at a value of at least Three Million, One Hundred Sixty-five Thousand, Seven Hundred Sixty and NO/100 Dollars ($3,165,760.00). (d) The Owner represents and warrants that it will retain employment for one hundred nine (109) permanent employees, and will create jobs for fifty-seven (57) new permanent employees, beginning not later than three (3) years from the start of the Abatement Period, and continuing through the term of this Agreement. (e) The Owner represents and warrants that the Improvements will not solely or primarily have the purpose of transferring employment from one part of the City of La Porte to another. (f) The Owner represents that the Improvements are necessary because the existing facility does not have sufficient capacity when reasonable allowance is made for necessary improvements, together with the need for new facilities as hereinabove described. (g) The Owner represents and warrants that it will construct and operate the Project described on Exhibit "E" attached hereto and incorporated by reference herein. (h) The Owner represents and warrants that the facility will be designed, constructed and operated in accordance with all applicable federal, state, and local environmental regulations, and City's Zoning Ordinance and other City Codes, and that the construction and operation of the facility will not cause environmental degradation or hazard to the Real Property or the environs of the city of La Porte. 5. Terms of the' Agreement (a) The Owner shall make the Improvements sUbstantially in conformity with t he descriptions, plans and specifications as described on Exhibit "C". (b) The Improvements shall be completed in accordance with the provisions of Exhibit "c" and the City of La Porte Code of Ordinances. In case of any conflict-, the Code of Ordinances shall prevail. 4