09-10-12 Regular Meeting of La Porte City Council

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FOREIGN TRADE ZONE AGREEMENT FOR THE PAYMENT OF AD VALOREM TAXES AND Gulf Winds International Incorporated THIS AGREEMENT (this Agreement) is entered into by and between Gulf Winds International Inc.,Company) and City of La Porte, Texas (City). A.Recitals 1.The Port of Houston Authority is grantee of Foreign Trade Zone N 2.The Company is the operator of a building located within the 289.94 +/- acre Port Crossing Industrial Park, Zone Site 20, which it will be leasing from PORT CROSSING A4 LP, a Texas limited partnership. The specific th building at which the company will be operating the FTZ is locat Street, La Porte, Texas 77571 on a tract of land more particularly described in Exhibit eto. 3.Company desires to participate in the foreign trade zones progra filed with the U.S. Customs and Border Protection CBP to activat Houston Foreign Trade Zone No.84; 4.A letter of non-objection from the City will aid in the efforts to obtain the re the Port of Houston, the Grantee of Foreign Trade Zone No. 84; 5.19 U.S.C § 81 0(e) provides a federal exemption from state and local ad valorem taxes on tangible personal property imported from outside the United States, and held in a storage, sale, exhibition, repackaging, assembly, distribution, manufacturing or processing and tangible personal property produced in the United Sta foreign trade zone for exportation, either in its original form 6.Inventory qualifying under 19 U.S.C. § 81o(e) and held at the Facility in foreign trade zone space that is activated by U.S. Customs pursuant to 19 C.F.R. § 146 is exempt 7.Company and the City desire that the foreign trade zone designatf revenue to the City Taxing Jurisdictions; NOW, THEREFORE, in consideration of the mutual promises expresset, the parties agree as follows.