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HomeMy WebLinkAboutResolution - 2022-R0217 - Industrial Tax Abatement Agreement with Leprino Foods Company 4.26.22Resolution No. 2022-RO217 Item No. 8.11 April 26, 2022 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock is hereby authorized and directed to execute for and on behalf of the City of Lubbock, a City Tax Abatement Agreement No. 16556 for a 10-year City tax abatement for an Industrial Project in a Reinvestment Zone, by and between the City of Lubbock and Leprino Foods Company of Denver, Colorado, and related documents. Said Agreement is attached hereto and incorporated in this resolution as if fully set forth herein and shall be included in the minutes of the City Council. Passed by the City Council on April 26, 2022 "I , - DANIEL M. POPE, MAYOR ATTEST: Rebec a Garza, City Secret APPROVED AS TO CONTENT: Lc. Blu Kostefich, Chief Financial Officer APPROVED AS TO FORM: kelli Leisure, Assistant City Attorney ccdocs/RES.Contract 16556 Leprino Tax Abatement 4.14.22 Resolution No. 2022-RO217 CITY OF LUBBOCK TAX ABATEMENT AGREEMENT This Tax Abatement Agreement, Contract No. 16556, is by and between the City of Lubbock, a Texas home rule municipal corporation, and the Leprino Foods Company, for the abatement of certain taxes at the properties located at 4301 E. 191h Street and 4502 E. 4th Street, Lubbock, Lubbock County, Texas. RECITALS WHEREAS, on February 23, 2022, the City of Lubbock received an application for tax abatement from the Leprino Foods Company, concerning improvements to real property and tangible personal property; and WHEREAS, the Leprino Foods Company application for tax abatement addresses, among other things, the construction of a new facility and the addition of new equipment to the properties located at 4301 E. 19th Street and 4502 E. 41h Street, Lubbock, Lubbock County, Texas; and WHEREAS, upon review of the Leprino Foods Company application for tax abatement, the City Council of the City of Lubbock found that the properties located at 4301 E. 191h Street and 4502 E. 41h Street, Lubbock, Lubbock County, Texas is in the Reinvestment Zone designated by the City of Lubbock in Ordinance No. 2022-00042; and WHEREAS, the City Council of the City of Lubbock, through Resolution No. 2022-RO 125, adopted the Guidelines and Criteria Governing Tax Abatement for Industrial Projects in the City of Lubbock; and WHEREAS, the Texas Tax Code, Section 312.002, and Section IV of the Guidelines and Criteria Governing Tax Abatement for Industrial Projects in the City of Lubbock, recognize the construction of a new facility and the addition of personal property in the form of equipment as being eligible for tax abatement; and WHEREAS, the City Council of the City of Lubbock hereby finds that the Guidelines and Criteria Governing Tax Abatement for Industrial Projects in the City of Lubbock have been, or will be, met by the Leprino Foods Company; and WHEREAS, the City of Lubbock has complied with all the requirements set forth in the Texas Tax Code, Section 312.201, and with all of the requirements set forth in the Guidelines and Criteria Governing Tax Abatement for Industrial Projects in the City of Lubbock; and NOW THEREFORE, in consideration of the promises, terms, covenants, and conditions contained in this Tax Abatement Agreement, the City of Lubbock and the Leprino Foods Company agree as follows: AGREEMENT 1. Definitions. The following terms shall have the meanings ascribed to them in this Section for purposes of this Agreement: "A,QreemenP'means this Tax Abatement Agreement, including its Recitals and Exhibits. City of Lubbock Tax Abatement Agreement - Leprino Foods Company Page 1 "implication" means the Leprino Foods Company's application for municipal tax abatement submitted to the City, a copy of which is attached to this Agreement as "Exhibit C." "Q " means the City of Lubbock. "Company" means the Leprino Foods Company. "Guidelines" means the Guidelines and Criteria Governing Tax Abatement for Industrial Projects in the City of Lubbock that were adopted by the City Council through Resolution No. 2022-R0125, a copy of which is attached to this Agreement as "Exhibit B" and incorporated herein. "Improvement Project" means the improvements to real property and the tangible personal property that are eligible for tax abatement and that are specified in the Leprino Foods Company's application for municipal tax abatement, a copy of which is attached to this Agreement as "Exhibit C." "New Permanent Job": A new employment position created by a business that has provided employment to an employee of at least 1,820 hours annually and intended to be an employment position that exists during the life of the abatement. "Site " means the Leprino Foods Company's properties located at 4301 E. 19th Street and 4502 E. 41h Street, Lubbock, Lubbock County, Texas, with a more particular description and depiction attached to this Agreement as "Exhibit A." "Term " means the period of time in which this Tax Abatement Agreement is effective as provided in Section 3. 2. Recitals and Exhibits. The representations, covenants, and recitations which are set forth in the foregoing Recitals, and which are included in the Exhibits attached hereto, are material to this Agreement and are hereby incorporated into and made a part of this Agreement. 3. Term. This Agreement shall become effective upon the date of its execution by the Parties, and unless this Agreement is terminated earlier according to any provision contained herein, the Term of this Agreement shall be ten (10) years, with such Term commencing on January 1 of the tax year after the Improvement Project is at least ninety percent (90%) complete. 4. Base Year and Assessed Value. The base year applicable to the real and personal property, which is the subject of this Agreement, shall be 2022. The assessed value of the real and personal property, which is the subject of this Agreement, shall be the assessed value of such property for 2022. 5. Base Year Taxes. The Company shall pay the base year taxes upon the real and personal property which is the subject of this Agreement according to the base year assessed value. Therefore, the Company hereby acknowledges that the base year taxes levied upon the real and personal property at the Site cannot be abated. 6. Abatement of Increase in Base Year Tax. In accordance with Texas Tax Code, Section 312.204, real property taxes applicable to the real property that is the subject of this Agreement shall be abated only to the extent that the assessed value for any given year within City of Lubbock Tax Abatement Agreement — Leprino Foods Company Page 2 the Term exceeds the base year assessed value. 7. Property Ineligible for Tax Abatement. The property described and set forth in Section IV (6) of the Guidelines is incorporated by reference herein as if fully set out in this Agreement and fully describes the property ineligible for tax abatement. 8. Exemption from Tax for Improvement Project. The City covenants and agrees to exempt from taxation, in accordance with the appropriate Sections above, the following: a. All proposed new improvements to be placed upon the Site. b. All eligible tangible personal property placed in or upon the Site. Any equipment or personal property that has already been placed in service by the Company prior to the execution of this Agreement shall not be considered "eligible tangible personal property" under this Agreement. c. It is further understood that all items affixed to the new improvements placed upon the real property identified above and in Exhibit "A", including machinery and equipment shall be considered part of the real property improvement and taxes thereon shall be abated in accordance with the provisions of subparagraph (a) of this Section. 9. Economic Oualifications. As set forth in Section IV(3)(a) of the Guidelines, the Company agrees to expend funds necessary to qualify for the tax abatement provided by this Agreement by constructing a new facility on the Site. A description of the kind, number, and location of all proposed improvements is set forth in the Application attached hereto as "Exhibit C". 10. Value of Improvements. In accordance with Texas Tax Code, Section 312.204(a), the Company will expend four hundred eighteen million, two hundred fifty thousand dollars and NO/100 ($418,250,000.00) for the construction of a new facility and the purchase of new equipment and machinery to be located at the Site After the commencement of this Agreement, the Parties agree that if the initial tax appraisal on the Site does not reflect an increase in value at the Site equal to or exceeding four hundred eighteen million, two hundred fifty thousand dollars and NO/100 ($418,250,000.00) for the real property improvements and tangible personal property described in this Agreement, the Company shall provide to the City invoices and proof of payment for the construction of the new facility and the purchase of new equipment and machinery located at the Site for an amount equal to or greater than four hundred eighteen million, two hundred fifty thousand dollars and NO/100 ($418,250,000.00), in order for the Company to maintain its eligibility for tax abatement under the terms of this Agreement. 11. Job Creation, The Company agrees to create three hundred (300) New Permanent Jobs at the Site by the start of the Term or by December 31, 2025, whichever is later, and retain those jobs throughout the Term. 12. Portion of Tax Abated. Throughout the Term, the City agrees to abate taxes as set forth in Section 6 (above) on the Improvement Project according to the following schedule: Year 1: 100% Year 6: 100% Year 2: 100% Year 7: 100% City of Lubbock Tax Abatement Agreement — Leprino Foods Company Page 3 Year 3: 100% Year 8: 100% Year 4: 100% Year 9: 100% Year 5: 100% Year 10: 100% 13. Type of Improvements. In its Application, the Company proposes to construct a facility and purchase machinery and equipment for the Site. The Company acknowledges that the construction of the new facility and the purchase of the new machinery and equipment shall commence on or before June 21, 2022, and the Company hereby guarantees that the facility construction and equipment purchases as stated herein shall be completed by December 31, 2026. In the event that circumstances beyond the control of the Company necessitate additional time for the commencement of construction and purchasing and/or completion of such construction and purchasing, the Company may request an extension of the above date from the City and such consent shall not unreasonably be withheld. Company shall provide proof of completion within ten (10) days of completion of such construction and purchases. 14. Limitation on Use. Throughout the Term, the Company agrees to limit the use of the Site to commercial, manufacturing, and/or industrial uses as contemplated herein, as those terms are defined in the zoning ordinances of the City, and to limit the uses of the Site to those uses consistent with the general purpose of encouraging development of the reinvestment zone. 15. Recapture. In the event of default of this Agreement by the Company, and after notice of such default and an opportunity to cure such default have been provided to the Company by the City, the Company agrees to be bound by and comply with all the terms and provisions for the recapture of abated taxes under this Agreement, pursuant to law, and as set forth in the Guidelines. In the event that the applicant or owner has entered into a Tax Abatement Agreement and fails to create all or a portion of the number of new jobs or attain the appraised value of the property provided by the Tax Abatement Agreement then in such event the City, shall give the Company sixty (60) days written notice to cure such default. In the event such default is not cured to the reasonable satisfaction of the City within the sixty (60) days' notice period, then the Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to the City by no later than January 31 st of the following year. If the termination takes place within the first five years of the schedule set forth in Paragraph 12 of the agreement, taxes abated in years prior to the year of termination shall be payable to the City within sixty (60) days of the date of termination. 16. City Access to Property. Throughout the Term, the Company covenants and agrees that the City shall have access to the Site and to the Improvement Project upon reasonable notice, during normal business hours, and subject to the Company's reasonable security, safety, and operational standards, and that the City shall be able to inspect the Site and the Improvement Project and any documents necessary to ensure the Company's compliance with the terms and conditions of the Application and this Agreement. City of Lubbock Tax Abatement Agreement — Leprino Foods Company Page 4 17. Certification. The Company agrees to provide to the City annual, written certification that the Company is in compliance with the terms of the Agreement. 18. Compliance. In accordance with Sections IX and X of the Guidelines, the City may cancel or modify this Agreement if the Company is in default of any term of this Agreement. The City shall provide written notice to the Company specifying the basis for any such default, with said written notice providing a timeframe and procedure within which the Company may cure any default. 19. Notices. Unless otherwise altered by either Party through written notice to the other Party, any notice required to be given by this Agreement shall be in writing and sent by certified mail, return receipt requested, to the following addresses: CITY OF LUBBOCK LEPRINO FOODS COMPANY City Manager Colleen Kershisnik, Sr. Tax Manager PO Box 2000 1830 W. 38th Avenue Lubbock, Texas 89457 Denver, Colorado 80211 With a copy by e-mail to: legal@leprinofoods.com 20. Assignment. This Agreement may not be assigned without the written the approval of the City. 21. Representations. The City represents that: a. The Site is within the Reinvestment Zone designated by Ordinance No. 2022-00042; and b. The City has complied with all of the requirements set forth in Texas Tax Code, Section 312.201 and with all the criteria and guidelines as set forth in the Guidelines. 22. Miscellaneous. a. Severability. In the event any provision of this Agreement is held to be invalid or unenforceable in any respect, such invalidity or unenforceability shall not affect any other provisions of this Agreement. b. Amendments. Any amendment to this Agreement shall be of no effect unless in writing and signed by all parties hereto. c. Counterparts. This Agreement may be executed in counterparts, each of which shall constitute an original, but all of which together shall constitute one and the same instrument. The signature page of any counterpart may be detached therefrom without impairing the legal effect of the signature(s) thereon provided such signature page is attached to any other counterpart identical thereto except having additional signature pages executed by any other party. d. Venue and Applicable Law. This Agreement is subject to all present and future valid City of Lubbock Tax Abatement Agreement - Leprino Foods Company Page 5 laws, orders, rules, ordinances, and regulations of the United States of America, the State of Texas, the Parties, and any other regulatory body having jurisdiction. This Agreement shall be construed and governed according to the laws of the State of Texas. The sole venue for any action, controversy, dispute, or claim arising under this Agreement shall be in a court of appropriate jurisdiction in Lubbock County, Texas exclusively. e. Rights and Remedies Reserved. The City and the Company each reserve the right to exercise any right or remedy available to it by law, contract, equity, or otherwise, including without limitation, the right to seek any and all forms of relief in a court of competent jurisdiction. Further, neither the City nor the Company shall be subject to any arbitration process prior to exercising its unrestricted right to seek judicial remedy. The remedies set forth herein are cumulative and not exclusive, and may be exercised concurrently. To the extent of any conflict between this provision and another provision in, or related to, this Agreement, the former shall control. f. Public Information. i. This Agreement is public information. To the extent, if any, that any provision of this Agreement is in conflict with Tex. Gov't. Code Ann. Chapter 552 et seq., as amended, the same shall be of no force and effect. ii. The requirements of Subchapter J, Chapter 552, Government Code, may apply to this contract and the Company agrees that the contract can be terminated if the Company knowingly or intentionally fails to comply with a requirement of that subchapter. iii. To the extent Subchapter J, Chapter 552, Government Code applies to this agreement, the Company agrees to: (1) preserve all contracting information related to the contract as provided by the records retention requirements applicable to the governmental body for the duration of the contract; (2) promptly provide to the governmental body any contracting information related to the contract that is in the custody or possession of the entity on request of the governmental body; and (3) on completion of the contract, either: (A) provide at no cost to the governmental body all contracting information related to the contract that is in the custody or possession of the entity; or (B) preserve the contracting information related to the contract as provided by the records retention requirements applicable to the governmental body. Fa g. No Third -Party Beneficiaries. This Agreement is entered solely by and between, and may be enforced only by and among the Parties. Except as set forth above, this Agreement shall not be deemed to create any rights in or obligations to any third parties. h. No Personal Liability. Nothing in this Agreement is construed as creating any personal City of Lubbock Tax Abatement Agreement - Leprino Foods Company Page 6 liability on the part of any employee, officer or agent of any public body that may be a party to this Agreement. i. No Joint Enterprise. This Agreement is not intended to, and shall not be construed to create any joint enterprise between or among the parties. j. No Indemnification by Cites The parties expressly acknowledge that the City's authority to indemnify and hold harmless any third party is governed by Article XI, Section 7 of the Texas Constitution and any provision which purports to require indemnification by the City is invalid. k. Sovereign Immunity Acknowledged and Retained. THE PARTIES EXPRESSLY ACKNOWLEDGE THAT NO PROVISION OF THIS AGREEMENT IS IN ANY WAY INTENDED TO CONSTITUTE A WAIVER BY ANY PARTY OF ANY IMMUNITIES FROM SUIT THAT A PARTY MAY HAVE BY OPERATION OF LAW. THE CITY RETAINS ALL OF ITS GOVERNMENTAL IMMUNITY AFFORDED UNDER TEXAS LAW TO A MUNICIPALITY THAT ENTERS INTO A CONTRACT. Contracts with Companies Engaged in Business with Iran, Sudan, or Foreign Terrorist Organization Prohibited. Pursuant to Section 2252.152 of the Texas Government Code, prohibits the City from entering into a contract with a vendor that is identified by The Comptroller as a company known to have contracts with or provide supplies or service with Iran, Sudan or a foreign terrorist organization. in. No Boycott of Israel. Pursuant to Section 2271.002 of the Texas Government Code, a) This section applies only to a contract that: (1) is between a governmental entity and a company with 10 or more full-time employees; and (2) has a value of $100,000 or more that is to be paid wholly or partly from public funds of the governmental entity. (b) A governmental entity may not enter into a contract with a company for goods or services unless the contract contains a written verification from the company that it: (1) does not boycott Israel; and (2) will not boycott Israel during the term of the contract. n. Texas Government Code 2274. By entering into this Agreement, the Company verifies that: (1) it does not, and will not for the duration of the contract, have a practice, policy, guidance, or directive that discriminates against a firearm entity or firearm trade association or (2) the verification required by Section 2274.002 of the Texas Government Code does not apply to the contract. If the Company has 10 or more full-time employees and if this Agreement has a value of at least $100,000 or more, the Company verifies that, pursuant to Texas Government Code Chapter 2274, it does not have a practice, policy, guidance, or directive that discriminates against a firearm entity or firearm trade association; and will not discriminate during the term of the contract against a firearm entity or firearm trade association. City of Lubbock Tax Abatement Agreement — Leprino Foods Company Page 7 o. The Company represents and warrants that: (1) it does not, and will not for the duration of the contract, boycott energy companies or (2) the verification required by Section 2274.002 of the Texas Government Code does not apply to the contract. If the Company has 10 or more full- time employees and if this Agreement has a value of at least $100,000 or more, the Company verifies that, pursuant to Texas Government Code Chapter 2274, it does not boycott energy companies; and will not boycott energy companies during the term of the Agreement. This verification is not required for an agreement where a governmental entity determines that these requirements are inconsistent with the governmental entity's constitutional or statutory duties related to the issuance, incurrence, or management of debt obligations or the deposit, custody, management, borrowing, or investment of funds. 23. Effective Date. Notwithstanding anything contained herein to the contrary, this Agreement shall not be effective until such time as it has been finally passed and approved by the City Council of the City. SIGNATURES This Tax Abatement Agreement is hereby executed on April 26 , 2022. CITY OF LUBBOCK DANIEL M. P019, MAYOR ATTEST: Re ca Garza, City S"ry LEPRINO FOODS COMPANY Mark Benson, ChiAtliocurement Officer, VP Gove ment Affairs City of Lubbock Tax Abatement Agreement— Leprino Foods Company Page 8 APPROVED AS TO CONTENT: D. Blu Kostelich, Chief tnancial Officer APPROVED AS TO FORM: elli Leisure, Assistant City Attorney City of Lubbock Tax Abatement Agreement — Leprino Foods Company Page 9 EXHIBIT A: The Property — Legal Description & Map City of Lubbock Tax Abatement Agreement - Leprino Foods Company Page 10 EXHIBIT A LEGAL DESCRIPTION METES AND BOUNDS DESCRIPTION of a 158.949 acre tract of land, out of a 252.5 acre tract described under County Clerk File No.2020059091 of the Official Public Records of Lubbock County,Texas and a 155.8 acre tract described under County Clerk File No. 2020059092 of the Official Public Records of Lubbock County,Texas, located in Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County,Texas, and being further described as follows: BEGINNING at a 1/2 "iron rod found in the East line of said Section 6, at the most Easterly Northeast corner of said 252.5 acre tract and this tract,which bears S.01"25'02" W. a distance of 544.55 feet from a 3/8" iron rod found at the Northeast corner of Section 6, Block0, E.L. & R. R. Railroad Company Survey, Lubbock County, Texas; THENCE S.01°25'02"W., along the East line of said Section 6and the Eastern boundary of said 252.5 acre tract,a distance of 211629 feet to a 1/2" iron rod found at the Northeast corner of a 160.0 acre tract (Southeast Quarter of said Section 6) described in Volume3401, Page 326 of the Real Property Records of Lubbock County,Texas, the Southeast corner of said 2525 acre tract and the most Easterly Southeast corner of this tract, same being the Southeast corner of the Northeast Quarter of said Section 6; THENCE N. 88°3642" W., along the South line of the Northeast Quarter of said Section 6, the Northern boundary of said 160.0 acre tract and the Southern boundary of said 2525 acre tract, at 30.00 feet pass a 1/2" iron rod with cap marked "HRA"found in reference, continuing for a total distance of 2674.49 feet to a 1/2" iron rod with cap marked "Smith" found at the mid cornerof said Section 6,the Northwest corner of said 160.0 acre tract, the Northeast corner of said 155.8 acre tract and a corner of thistract; THENCE N.8815'05" W. a distance of 74982 feet to a 1/2" iron rod with cap marked 'HRA" found at a corner of this tract; THENCE M46052'06" E., a distance of 1062.59 feet to a 1/2" iron rod with cap marked "HRA" found in the West line of the Northeast Quarter of said Section 6, at a corner of this tract; THENCE N.01°59'13"E., along the West line of the Northeast Quarterof said Section6, at 1869.10feet pass a 1/2" iron rod with cap marked "HRA"found intheSouth line of a 40foot right-of-way easement described in Volume 215, Page 190 of the Deed Records of Lubbock County, Texas, continuing fora total distance of 1909.10 feet to a'IMAG" nail with washer marked "HRA"found in the North line of said Section 6 and the Northern boundary of said 2525 acre tract, at the most Northerly Northwest corner of this tract; THENCE S. 8819'19" E., along the North line of said Section 6and the Northern boundaryof said 252.5 acre tract, a distance of 1848.06 feet to a "MAG" nail with washer marked "HRA" found at the most Northerly Northeast cornerof said 2525 acre tract and this tract; THENCE S. 01025'02"W.,at40.00 feet pass a 1/2" iron rod with cap marked "HRA" found in the South line of said 40 foot right-of-way easement, continuing for a total distance of 544.50 feet to a 1/2" iron rod with cap marked "HRA" found at an "ell"cornerofthis tract; 1 EXHIBIT A THENCE S. 8X39' 05" E., at 770.00 feet pass a 1/2" iron rod with cap marked "HRA" found in reference, continuing for a total distance of 800.00 feet to the Point of Beginning. SAVE AND EXCEPTTHE FOLLOWING DESCRIBED TRACT OF LAND: METES AND BOUNDS DESCRIPTION a 0.0430 acre tract, being that same tract described in Volume 1771, Page 194 of the Deed Records of Lu bbockCou nty, Texas, located in the North Half of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, and being further described as follows: BEGINNING at a 1/2" iron rod with cap marked "HRA" found in the South line of a40foot right-of- way easement described in Volume 215, Page 190 of the Deed Records of Lubbock County,Texas, at the Northeast corner of this tract, which bears N. 88039'19" W. a distance of 248047 feet and S. Or20'41" W. a distance of 40.00 feet from a 3/8" iron rod found at the Northeast cornerof Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas; THENCE S. 01°46'55" W. a distance of 25AOfeet to a 1/2" iron rod with cap marked "HRA" found atthe Southeast cornerof this tract; THENCE N. 88039'19"W. adistance of 75DOfeet to a 3/8" iron rod found at the Southwest cornerof thistract; THENCE N.01°46'S5"E. a distance of 25.00 feet to a 1/2" iron rod found in the South line of said 40 foot right-of-way easement, at the Northwest corner of this tract; THENCE 5.W39'19"E., along the South line of said 40 foot right-of-way easement, adistance of 75.00 feet to the Point of Beginning. Bearings are relative to Grid North, Texas Coordinate System of 1983, North-Central Zone, 2011 (epoch 2010A). Distances are Surface, U.S. Survey Feet. METES AND BOUNDS DESCRIPTION of a 101.006 acre tract of land out of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, being further described as follows: BEGINNING ata "MAG" nail with washer marked "HRA" found atthe Southwest cornerof this tract, which bears S. 88°39'02" E. a distance of 981.90feet from the Southwest cornerof said Section 6, Block O, E. L & R. R. Railroad Survey, Lubbock County, Texas; THENCE N.01°46'11"E.a distance of 2661.73feet to a1/2" ironrod withcap marked"HRA"found in the North line ofthe Southwest Quarterof said Section 6, for the Northwest corner of this tract; THENCE 5.88"15'05" E., along the North line of the Southwest Quarter of said Section 6 a distance of 165651 feet to a 1/2" iron rod with cap marked'Smith" found at the mid corner of said Section 6,for the Northeast corner of this tract; THENCE 5.01045'55" W., along the East line of the Southwest Quarter of said Section 6 a distance of 2650.12 feet to a railroad spike found at the Southeast cornerof the Southwest Quarter of said Section 6 and the Southeast corner of this tract; THENCE N. 88°39'02" W., along the South line of said Section 6 a distance of 1656.76 feet to the Point of Beginning. 2 EXHIBIT A SAVEAND EXCEPTTHE TWO FOLLOWING DESCRIBED TRACT OF LAND: METES AND BOUNDS DESCRIPTION of a 1007 acre tract described in Volume 5686, Page 324 of the Real Property Recordsof Lubbock County, Texas, located inthe Southwest Quarter of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, being further described as follows: BEGINNING at a 1/2" iron pipe found at the Southeast corner of this tract which bears N. 88°39'02" W. a distance of 60.67 feet and N. 01°20'58" E. a distance of 28.34 feet from a railroad spike found at the Southeast corner of the Southwest Quarter of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas; THENCE N. 8803641" W. a distance of 15958 feet to a 1/2" iron pipe found at the Southwest corner of this tract; THENCE N.01*46'17" E. a distanceof275.00 feet to a 1/2" iron rod found at the Northwest corner of this tract; THENCE S. 88036'41" E. a distance of 159.58 feet to a 1/2" iron rod found at the Northeast corner of this tract; THENCE S.01046' 17" W. a distance of 27500 feet to the Point of Beginning. Bearings are relative to Grid North, Texas Coordinate System of 1981 North-Central Zone, 2011(epoch 2010.0). Distances are Surface, U.S. Survey Feet. EMI z EXHIBIT B: Guidelines and Criteria Governing Tax Abatement For Industrial Projects in the City of Lubbock City of Lubbock Tax Abatement Agreement— Leprino Foods Company Page 11 Exhibit B City of Lubbock, TX Guidelines and Criteria Governing Tax Abatement For Industrial Projects In The City of Lubbock SECTION I. General Purpose: The City of Lubbock (City) is committed to the promotion of high quality development in all parts of the City of Lubbock, Texas; and to an ongoing improvement in the quality of life for the citizens residing within the City. The City recognizes that these objectives are generally served by enhancement and expansion of the local economy. The City will, on a case by case basis, give consideration to providing tax abatement, as authorized by V.T.C.A., Tax Code, Chapter 312, as stimulation for economic development within the City. It is the policy of the City that said consideration will be provided in accordance with the guidelines and criteria herein set forth and in conformity with the Tax Code. Nothing contained herein shall imply, suggest or be understood to mean that the City is under any obligation to provide tax abatement to any applicant and attention is called to V.T.C.A., Tax Code, Section 312.002(d). With the above rights reserved all applications for tax abatement will be considered on a case by case basis. SECTION II. Definitions: As used within these guidelines and criteria, the following words or phrases shall have the following meaning: 1. Abatement of Taxes: To exempt from ad valorem taxation all or part of the value of certain Improvements placed on land located in a Reinvestment Zone designated for economic development purposes as of the date specified in the Tax Abatement Agreement for a period of time not to exceed ten (10) years. 2. Abatement Agreement: (1) A contract between a property owner and the City for the abatement of taxes on qualified property located within a Reinvestment Zone or a designated Enterprise Zone; or, (2) a contract for the abatement of taxes between the City and a certified air carrier who owns or leases Real Property located within the Reinvestment Zone or Personal Property or both as authorized by V.T.C.A., Tax Code, Section 312.204(e) Advanced Technologies: advanced manufacturing which requires higher skills and results in higher wages and investment. 4. Base Year Value: The assessed value of property eligible for tax abatement as of January 1 preceding the execution of an Abatement Agreement as herein defined. 5. Distribution Center Facility: A building or structure including Tangible Personal Property used or to be used primarily to receive, store, service or distribute goods or materials. 6. Expansion of Existing Facilities or Structures: The addition of buildings, structures, machinery or equipment to a Facility. 7. Existing Facility or Structure: A facility as of the date of execution of the Tax Abatement Agreement, located in or on Real Property eligible for tax abatement. 8. Facility: The improvements made to Real Property eligible for tax abatement and including the building or structure erected on such Real Property and/or any Tangible Personal Property to be located in or on such property. Information and Data Center: Facility used to house computer systems and associated components, such as telecommunications and storage systems. The main purpose of the facility 2022 Industrial Tax Abatement Guidelines March 8, 2022 is running applications that handle the core business and operational data of organizations, off - site backups and other informational operations. 10. Improvements to Real Property or Improvements: Shall mean the construction, addition to, structural upgrading of, replacement of, or completion of any facility located upon, or to be located upon, Real Property, as herein defined, or any Tangible Personal Property placed in or on said Real Property. 11. Manufacturing Facility: A Facility which is or will be used for the primary purpose of the production of goods or materials or the processing or change of goods or materials to a finished product. 12. Medical Services: Facilities such as hospitals, specialty hospitals and other like facilities that are classified under North American Industrial Classification System Code 622. 13. Modernization/Renovation of Existing Facilities: The replacement or upgrading of existing facilities. 14. New Facility: The construction of a Facility on previously undeveloped Real Property eligible for tax abatement. 15. New Permanent Job: A new employment position created by a business that has provided employment to an employee of at least 1,820 hours annually and intended to be an employment position that exists during the life of the abatement. 16. Other Basic Industry: A Facility other than a distribution center facility, a research facility, a regional service facility or a manufacturing facility which produces goods or services or which creates new or expanded job opportunities and services a market of which 50% of revenues come from outside of Lubbock County, Texas. 17. Owner: The record title owner of Real Property or the legal owner of Tangible Personal Property. In the case of land leased from the City or buildings leased from a private party or tax exempt property, the lessee shall be deemed the owner of such leased property together with all improvements and Tangible Personal Property located thereon. 18. Productive Life: The number of years a Facility is expected to be in service. 19. Real Property: Land on which improvements are to be made or fixtures placed. 20. Regional Services Facility: A Facility, the primary purpose of which is to service or repair goods or materials and which creates job opportunities within the affected jurisdictions. 21. Reinvestment Zone: Real Property designated as a Reinvestment Zone under the provisions of V.T.C.A., Tax Code, Section 312.202. 22. Research Facility: A Facility used or to be used primarily for research or experimentation to improve or develop new goods and/or services or to improve or develop the production process for such goods and/or services. 23. Tangible Personal Property: Any Personal Property, not otherwise defined herein and which is necessary for the proper operation of any type of Facility. 2022 Industrial Tax Abatement Guidelines March 8, 2022 SECTION III. Intent of Criteria and Guidelines: The Intent of the criteria and guidelines, as herein set forth, is to establish the minimum standards which an applicant for tax abatement must meet in order to be considered for such status by the City. SECTION IV. Criteria and Guidelines for Tax Abatement: Any type of Facility will be eligible for tax abatement consideration provided such Facility meets the following guidelines and criteria: 1. To qualify for Tax Abatement, the company must meet both of the following criteria: a) The modernization or expansion of an existing facility of any type as herein defined or construction of a new facility of any type as herein defined. b) Producer, manufacturer or distributor of goods and services of which 50 percent or more are distributed outside of Lubbock County. 2. In addition to the aforementioned, the City will consider abatement only if the company meets one of the following criteria: a) One of the following target industries: i) Advanced Technologies and Manufacturing ii) Value-added Agricultural Production including Food Processing and Machinery iii) Research and Development iv) Medical Services (as defined in Section II Definitions) v) Warehouse/Distribution vi) Corporate Headquarters of a Regional/National Service Center vii) Information and Data Centers b) The project is not included as a target industry, but has the potential of generating additional, significant economic development opportunities to Lubbock. 3. The company must meet one of the following criteria: a) The project will add at least $1 million in Real Property improvements, or $2 million in new Personal Property, or 25 new permanent jobs if the facility is a new company to Lubbock. b) The project will add at least $500,000 in Real Property improvements, or $1 million in new Personal Property, or 15 new permanent jobs if the facility is an existing company. 4. New or existing facilities of any type herein defined, located in a designated Enterprise Zone, Reinvestment Zone, or upon Real Property eligible for such status will be eligible for consideration for tax abatement status provided that all other criteria and guidelines are satisfied. 2022 Industrial Tax Abatement Guidelines March 8, 2022 5. Improvements to Real Property and on -site raw materials, works in progress, supplies, and tools are eligible for tax abatement status. 6. The following types of Property shall be ineligible for tax abatement status and shall be fully taxed: a) Real Property; b) finished goods c) furnishings and other forms of movable personal property; d) vehicles; e) aircraft; f) housing (single family and multi -family); g) boats; h) hotel accommodations; i) motel accommodations; j) retail businesses; k) property owned by the State of Texas or any State agency; and, 1) property owned or leased by a member of the City Council who did not have an active tax abatement in place before becoming a member of the governing body. 7. In order for a Facility to qualify for abatement, the following conditions must apply: a) The owner or leaseholder of Real Property must make eligible improvements to the real property; and, b) In the case of lessees, the leaseholder must have a lease commitment of at least five (5) years. In Reinvestment Zones, the amount and term of abatement shall be determined on a case by case basis, however, in no event shall taxes be abated for a term in excess of ten (10) years. The amount of the taxable value of improvements to be abated and the term of the abatement shall be determined by the City in all cases where the property for which tax abatement is applied for is within the City limits of the City. A Reinvestment Zone that is a State Enterprise Zone is designated for the same period as a State Enterprise Zone as provided by Chapter 2303, Government Code. The authority of all other taxing units shall be as set forth in V.T.C.A., Tax Code, Section 312.206. In Enterprise Zones, the governing body of each taxing jurisdiction may execute a written agreement with the owner of the property. The agreement may, but is not required to, contain terms that are identical to those contained in the agreement with the municipality, county, or 4 2022 Industrial Tax Abatement Guidelines March 8, 2022 both, whichever applies, and the only terms for the agreement that may vary are the portion of the property that is to be exempt from taxation under the agreement and the duration of the agreement. 9. No property shall be eligible for tax abatement unless such property is located in a Reinvestment Zone in accordance with V.T.C.A., Tax Code, Section 312.202 or a designated Enterprise Zone as provided by V.T.C.A Gov. Code, Chapter 2303, and the tax abatement application is filed with the City before construction begins. 10. Taxability: a) The portion of the value of improvements to be abated shall be abated in accordance with the terms and provisions of a Tax Abatement Agreement executed between the City and the owner of the Real Property and/or Tangible Personal Property, (which agreement shall be) in accord with the provisions of V.T.C.A., Tax Code, Section 312.205. b) All ineligible property, if otherwise taxable as herein described, shall be fully taxed. 11. The Lubbock City Council shall have total discretion as to whether tax abatement is to be granted. Such discretion, as herein retained, shall be exercised on a case by case basis. The adoption of these guidelines and criteria by the Lubbock City Council does not: a) Limit the discretion of the Lubbock City Council to decide whether to enter into a specific Tax Abatement Agreement; b) Limit the discretion of the Lubbock City Council to delegate to its employees the authority to determine whether or not the Lubbock City Council should consider a particular application or request for tax abatement; or, c) Create any property, contract, or other legal right in any person to have the Lubbock City Council consider or grant a specific application or request for tax abatement. 12. The burden to demonstrate that an application for tax abatement should be granted shall be upon the applicant. The City shall have full authority to request any additional information from the applicant that the Lubbock City Council deems necessary to assist it in considering such application. SECTION V. Criteria and Guidelines for Creation of Reinvestment Zone: 1. No Property shall be eligible for tax abatement unless such property is located in a Reinvestment Zone designated as such in accordance with V.T.C.A., Tax Code, Section 312.202. To be designated as a Reinvestment Zone an area must meet one of the following: a) Substantially arrest or impair the sound growth of the municipality or county creating the zone, retard the provision of housing accommodations, or constitute an economic or social liability and be a menace to the public health, safety, morals, or welfare in its present condition and use because of the presence of: 1. a substantial number of substandard, slum, deteriorated, or deteriorating structures; 2. the predominance of defective or inadequate sidewalks or streets; 2022 Industrial Tax Abatement Guidelines March 8, 2022 3. faulty size, adequacy, accessibility or usefulness of lots; 4. unsanitary or unsafe conditions; 5. the deterioration of site or other improvements; 6. tax or special assessment delinquency exceeding the fair value of the land; 7. defective or unusual conditions of title; 8. conditions that endanger life or property by fire or other cause; or, 9. any combination of these factors; b) Be predominantly open and, because of obsolete platting, deterioration of structures or site improvements, or other factors, substantially impair or arrest the sound growth of the municipality; c) Be in a federally assisted new community located in a home rule municipality or in an area immediately adjacent to a federally assisted new community located in a home rule municipality; d) Be located entirely in an area that meets the requirements for federal assistance under Section 119 of the Housing and Community Development Act of 1974 (42 U.S.C. Section 5318); e) Encompass signs, billboards, or other outdoor advertising structures designated by the governing body of the municipality for relocation, reconstruction, or removal for the purpose of enhancing the physical environment of the municipality, which the legislature declares to be a public purpose; or, f) Be reasonably likely as a result of the designation to contribute to the retention or expansion of primary employment or to attract major investment in the zone that would be a benefit to the property and that would contribute to the economic development of the municipality. 2. For purposes of this Section, federally assisted new community is a federally assisted area: a) That has received or will receive assistance in the form of loan guarantees under Title X of the National Housing Act (12 U.S.C., Section 1749aa et seq); and, b) A portion of which has received grants under Section 107 (a)(1) of the Housing and Community Development Act of 1974, as amended. 3. The Lubbock City Council, as required by Section 312.201, shall hold a public hearing on the designation of an area within its jurisdiction as a Reinvestment Zone. The burden shall be on the owner of the property sought to be included in the zone or applicant for the creation of the Reinvestment Zone to establish the following: a) That the requirements of Subsection 1 of this Section have been met. b) That the improvements sought are feasible and practical. 2022 Industrial Tax Abatement Guidelines March 8, 2022 4. No later than the seventh day before the date set for the above public hearing notice of such hearing shall be: a) Published in a newspaper having general circulation in the City. b) Delivered in writing to the presiding officer of the governing body of each taxing unit that includes in its boundaries Real Property that is to be included in the Reinvestment Zone. 5. At the public hearing above described in Section 3 above, any interested person is entitled to speak and present evidence for or against the designation of such Reinvestment Zone. 6. At the conclusion of the hearing described in Section 3 above, the Lubbock City Council shall enter its findings as follows: a) That the applicant or owner has or has not met his burden as hereinabove set forth, and/or, b) That the improvements sought are or are not feasible and practical. c) That the proposed improvements sought will or will not be a benefit to the land to be included in the Reinvestment Zone and to the City after the expiration of an agreement entered into under V.T.C.A., Tax Code, Section 312.204. 7. An application for the creation of a Reinvestment Zone shall not be granted unless the City enters affirmative findings to Subsections a, b, and c of Section 6 above set forth. 8. At the conclusion of the public hearing herein required and upon the affirmative finding of the Lubbock City Council as required by Section 7 above set forth, the governing body may designate a Reinvestment Zone in accordance with the provisions of V.T.C.A., Tax Code, Sections 312.201. 9. The designation of a Reinvestment Zone expires five years after the date of the designation and may be renewed for periods not to exceed five years, except that a Reinvestment Zone that is a State Enterprise Zone is designated for the same period as a State Enterprise Zone as provided by Chapter 2303, Government Code. The expiration of the designation does not affect an existing Tax Abatement Agreement made in accordance with V.T.C.A., Tax Code, Section 312.201 through Section 312.209. 10. Designation of an area as an Enterprise Zone under the Texas Enterprise Zone Act, Chapter 2303, Subchapter C, Texas Government Code, constitutes designation of the area as a Reinvestment Zone under Subchapter B of the Property Redevelopment and Tax Abatement Act without further hearing or other procedural requirements other than those provided by the Texas Enterprise Zone Act, Chapter 2303, Subchapter C, Texas Government Code. SECTION VI. Tax Abatement Agreement: 1. After the creation of a Reinvestment Zone as hereinabove authorized a Tax Abatement Agreement may be executed between the owner and City. A Tax Abatement Agreement shall: a) Establish and set forth the Base Year assessed value of the property for which tax abatement is sought. b) Provide that the taxes paid on the base year assessed value shall not be abated as a result of the execution of said Tax Abatement Agreement. 7 2022 Industrial Tax Abatement Guidelines March 8, 2022 c) Provide that ineligible property as subscribed in Section IV(6) hereinabove shall be fully taxed. d) Provide for the exemption of improvements in each year covered by the agreement only to the extent the value of such improvements for each such year exceeds the value for the year in which the agreement is executed. e) Fully describe and list the kind, number and location of all proposed improvements to be made in or on the Real Property. f) Set forth the estimated value of all improvements to be made in or on the Real Property. g) Clearly provide that tax abatement shall be granted only to the extent: 1. The improvements to Real Property increase the value of the Real Property for the year in which the Tax Abatement Agreement is executed; and, 2. That the Tangible Personal Property improvements to Real Property were not located on the Real Property prior to the execution of the Tax Abatement Agreement. h) Provide for the portion of the value of the improvements to Real Property of improvements to be abated. This determination is to be made consistent with the provisions of Section IV(6) of these guidelines and criteria as hereinabove set forth. i) Provide for the commencement date and the termination date. In no event shall the commencement date occur prior to 90 percent completion of the project (both Real and Personal Property). In no event shall the termination date exceed a period of ten years from the commencement date. j) Describe the type and proposed use of the improvements to Real Property or improvements including: 1. The type of facility. 2. Whether the improvements are for a new facility, modernization of a facility, or expansion of a facility. 3. The nature of the construction, proposed time table of completion, a map or drawings of the improvements above mentioned. 4. The amount of investment and the commitment for the creation of new jobs. 5. A list containing the kind, number and location of all proposed improvements. 6. Any other information required by the City. k) Provide a legal description of the Real Property upon which improvements are to be made. 1) Provide access to and authorize inspection of the Real Property or improvements by employees of the City, who have executed a Tax Abatement Agreement with owner to insure improvements are made according to the specifications and conditions of the Tax Abatement Agreement. 2022 Industrial Tax Abatement Guidelines March 8, 2022 m) Provide for the limitation of the uses of the Real Property or improvements consistent with the general purpose of encouraging development or redevelopment of the zone during the period covered by the Tax Abatement Agreement. n) Provide the contractual obligations in the event of default by owner, violation of the terms or conditions by owner, recapturing property tax revenue in the event owner defaults or otherwise fails to make improvements as provided in said Tax Abatement Agreement, and any other provision as may be required or authorized by State Law. o) Contain each term agreed to by the owner of the property. p) Require the owner of the property to certify annually to the Lubbock City Council that the owner is in compliance with each applicable term of the agreement. q) Provide that the Lubbock City Council may cancel or modify the agreement if the property owner fails to comply with the agreement. 2. Not later than the seventh day before the City enters into an agreement for tax abatement under V.T.C.A., Tax Code, Section 312.204, the Lubbock City Council or a designated officer or employee thereof shall deliver to the presiding officer of the governing body of each of the taxing units in which the property to be subject to the agreement is located, a written notice that the City intends to enter into the agreement as required by V.T.C.A Tax Code, Section 312.2041. The notice must include a copy of the proposed Tax Abatement Agreement. 3. A notice, as above described in Section 2, is presumed delivered when placed in the mail, postage paid and properly addressed to the appropriate presiding officer. A notice properly addressed and sent by registered or certified mail for which a return receipt is received by the sender is considered to have been delivered to the addressee. 4. Failure to deliver the notice does not affect the validity of the agreement. SECTION VII. Application: 1. Any present owner of taxable property located within an affected jurisdiction may apply for tax abatement by filing an application with the City of Lubbock. The application has to be filed with the City prior to the construction start. 2. The application shall consist of a completed application form accompanied by: a) A general description of the improvements to be undertaken. b) A descriptive list of the improvements for which tax abatement is requested. c) A list of the kind, number and location of all proposed improvements of the Real Property Facility or Existing Facility. d) A map indicating the approximate location of improvements on the Real Property Facility or Existing Facility together with the location of any or all Existing Facilities located on the Real Property or Facility. 2022 Industrial Tax Abatement Guidelines March 8, 2022 e) A list of any and all Tangible Personal Property presently existing on the Real Property or located in an existing facility. f) A legal description of property. g) Address of property. h) A proposed time schedule for undertaking and completing the proposed improvements. i) A general description stating whether the proposed improvements are in connection with: 1. the modernization of a facility (of any type herein defined); or, 2. construction of a new facility (of any type herein defined); or, 3. expansion of a facility (of any type herein defined); or, 4. any combination of the above. j) A statement of the additional value to the Real Property or Facility as a result of the proposed improvements. k) A statement of the assessed value of the Real Property, Facility or Existing Facility for the Base Year. 1) Information concerning the number of new jobs that will be created or information concerning the number of existing jobs to be retained as result of the improvements undertaken. m) A statement certifying that the business, or a branch, division, or department of the business, does not and will not knowingly employ an undocumented worker. n) Any other information which the City of Lubbock deems appropriate for evaluating the financial capacity of the applicant and compatibility of the proposed improvements with these guidelines and criteria. o) Information that is provided to the City in connection with an application or request for tax abatement and which describes the specific processes or business activity to be conducted or the equipment or other property to be located on the property for which tax abatement is sought is confidential and not subject to public disclosure until the Tax Abatement Agreement is executed. Information in the custody of the City after the agreement is executed is not confidential. (V.T.C.A., Tax Code, Section 312.003). p) The City shall determine if the property described in said application is within a designated Reinvestment Zone. If the City determines that the property described is not within a current Reinvestment Zone then they shall so notify the applicant and said application shall then be considered both as an application for the creation of a Reinvestment Zone and a request for tax abatement to be effective after the zone is created. SECTION VHI. Investment/Jobs Documentation 1. The investment commitment in the Tax Abatement Agreement will be verified as follows: 10 2022 Industrial Tax Abatement Guidelines March 8, 2022 a. The City will request the value of the Real and Personal Property from the Lubbock Central Appraisal Value, and if the value minus the base year, meets the agreement commitment, it will service as verification that the investment met the requirement in the agreement; or b. If the Lubbock Central Appraisal District value, minus the base year value, does not meet the investment commitment in the agreement, the Company will provide invoices documenting the actual investment to verify the investment met the investment commitment in the agreement. 2. Confirmation of the job creation requirement: a. The company will provide the City with a copy of the State Employment report filed with the State of Texas for the quarter ending after the date in the agreement that the jobs are required to be created. Job creation will be audited annually to assure retention of jobs. Each year during the City audit of Tax Abatement Agreements, the company will provide the City with the 41' quarter employment report filed with the State of Texas to confirm job retention. If the employment in the 4t' quarter report does not meet the requirement for retention of the created jobs, the City may request the quarterly reports for the 11, 2"a, and 31 quarters of that audit year to determine compliance. The City may request and the company shall promptly provide any additional information that the City deems necessary to confirm that the company is in compliance with the terms of the Tax Abatement Agreement. SECTION IX. Default Options 1. In the event that the applicant, owner or lessee has entered into a Tax Abatement Agreement to make improvements as defined in Section IV(2) above, but fails to undertake or complete such improvements; fails to create all or a portion of the new jobs provided by the Tax Abatement Agreement; or is in default of any of the terms or conditions contained in the Tax Abatement Agreement; then in such event the City shall give the applicant or owner sixty (60) days notice of such failure. The applicant or owner shall demonstrate to the satisfaction of the City above mentioned that the applicant or owner has commenced to cure such failure within the sixty (60) days above mentioned. In the event the applicant or owner fails to demonstrate that he is taking affirmative action to cure his failure, the City shall have three options: (a) The City may renegotiate the Tax Abatement Agreement with the applicant or owner in which case the current Guidelines and Criteria Governing Tax Abatement for Industrial Projects in the City of Lubbock shall apply to the new Agreement; or (b) The City may determine that good cause exists to cancel the Tax Abatement Agreement and all abatement of taxes shall terminate immediately; or (c) The City may terminate the Tax Abatement Agreement and recapture taxes abated under Section X, Recapture. 2. In any of the three options in Paragraph 1 above, the City shall determine whether default has occurred by the applicant or owner in the terms and conditions of the Tax Abatement Agreement and shall so notify all other affected jurisdictions. 2022 Industrial Tax Abatement Guidelines March 8, 2022 SECTION X. Recapture In the event that any type of facility is completed and begins producing goods or services, but subsequently discontinues producing goods or services for any reason, excepting fire, explosion or other casualty or accident or natural disaster or other event beyond the reasonable control of applicant or owner for a period of 180 days during the term of a Tax Abatement Agreement, then in such event the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to the City by no later than January 31" of the following year. Taxes abated in years prior to the year of termination shall be payable to the City within sixty (60) days of the date of termination. The burden shall be upon the applicant or owner to prove to the satisfaction of the City that the discontinuance of producing goods or services was as a result of fire, explosion, or other casualty or accident or natural disaster or other event beyond the control of applicant or owner. In the event that applicant or owner meets this burden and the City is satisfied that the discontinuance of the production of goods or services was the result of events beyond the control of the applicant or owner, then such applicant or owner shall have a period of one year in which to resume the production of goods and services. In the event that the applicant or owner fails to resume the production of goods or services within one year, then the Tax Abatement Agreement shall terminate and the abatement of all taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to the City by no later than January 315' of the following year. Taxes abated in years prior to the year of termination shall be payable to the City within sixty (60) days of the date of termination. The one year time period, hereinabove mentioned, shall commence upon written notification from the City to the applicant or owner. 2. In the event that the applicant or owner has entered into a Tax Abatement Agreement to make improvements to a facility of any type described in Section 1 above, but fails to undertake or complete such improvements provided by the Tax Abatement Agreement, then in such event the City shall give the applicant or owner sixty (60) days notice of such failure. The applicant or owner shall demonstrate to the satisfaction of the City, above mentioned, that the applicant or owner has commenced to cure such failure within the sixty (60) days above mentioned. In the event that the applicant or owner fails to demonstrate that he is taking affirmative action to cure his failure, then in such event the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to the City by no later than January 311 of the following year. Taxes abated in years prior to the year of termination shall be payable to the City within sixty (60) days of the date of termination. 3. In the event that the applicant or owner has entered into a Tax Abatement Agreement and fails to create all or a portion of the number of new jobs or does not attain the appraised value of the property provided by the Tax Abatement Agreement then in such event the City, shall give the applicant or owner sixty (60) days notice of such failure. The applicant or owner shall demonstrate to the satisfaction of the City, above mentioned, that the applicant or owner has commenced to cure such failure within the sixty (60) days above mentioned. In the event that the applicant or owner fails to demonstrate that he is taking affirmative action to cure his failure, the Tax Abatement Agreement shall terminate, and the City shall recapture all or a portion of the property tax revenue lost before such termination at such amount as set forth in the Tax Abatement Agreement. 4. In the event that the City determines that the applicant or owner is in default of any of the terms or conditions contained in the Tax Abatement Agreement, then in such event the City, shall 12 2022 Industrial Tax Abatement Guidelines March 8, 2022 give the applicant or owner sixty (60) days written notice to cure such default. In the event such default is not cured to the satisfaction of the City within the sixty (60) days notice period, then the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination takes place shall be payable to the City by no later than January 315' of the following year. Taxes abated in years prior to the year of termination shall be payable to the City within sixty (60) days of the date of termination. 5. In the event that the applicant or owner allows ad valorem taxes on property ineligible for tax abatement owed to the City, to become delinquent and fails to timely and properly follow the legal procedures for their protest or contest, then in such even the Tax Abatement Agreement shall terminate and all abatement of taxes shall likewise terminate. Taxes abated during the calendar year in which termination, under this Section, takes place shall be payable to the City by no later than January 311 of the following year. Taxes abated in years prior to the year of termination shall be payable to the City within sixty (60) days of the date of termination. 6. In the event that the applicant or owner, who has executed a Tax Abatement Agreement with the City, relocates the business for which tax abatement has been granted, to a location outside of the designated Reinvestment Zone, then in such event, the Tax Abatement Agreement shall terminate after sixty (60) days written notice by the City to the applicant or owner. Taxes abated during the calendar year in which termination, under this Section takes place shall be payable to the City by no later than January 3 V of the following year. Taxes abated in years prior to the year of termination shall be payable to the City within sixty (60) days of the date of termination. 7. The date of termination as that term is used in this Section IX shall, in every instance, be the 60s' day after the day the City sends notice of default, in the mail to the address shown in the Tax Abatement Agreement to the applicant or owner. Should the default be cured by the applicant or owner within the sixty (60) day notice period, the applicant or owner shall be responsible for so advising the City and obtaining a release from the notice of default from the City, failing in which, the abatement remains terminated and the abated taxes must be paid. 8. In every case of termination set forth in Paragraphs 1, 2, 3, 4, and 5 above, the City shall determine whether default has occurred by the applicant or owner in the terms and conditions of the Tax Abatement Agreement and shall so notify all other affected jurisdictions. 9. In the event that a Tax Abatement Agreement is terminated for any reason whatsoever and taxes are not paid within the time period herein specified, then in such event, the provisions of V.T.C.A., Tax Code, Section 33.01 will apply. SECTION XI. Miscellaneous: 1. Any notice required to be given by these criteria or guidelines shall be given in the following manner: a) To the applicant or owner: written notice shall be sent to the address appearing on the Tax Abatement Agreement. b) To the City: written notice shall be sent to the address appearing on the Tax Abatement Agreement. 2. The Chief Appraiser of the Lubbock Central Appraisal District shall annually assess the Real and Personal Property comprising the Reinvestment Zone. Each year, the applicant or owner 13 2022 Industrial Tax Abatement Guidelines March 8, 2022 receiving tax abatement shall furnish the Chief Appraiser with such information as may be necessary for the abatement. Once value has been established, the Chief Appraiser shall notify the City which levies taxes of the amount of assessment. 3. Upon the completion of improvements made to any type of Facility as set forth in Section VIII(1) of these criteria and guidelines a designated employee or employees of the City having executed a Tax Abatement Agreement with applicant or owner shall have access to the Facility to insure compliance with the Tax Abatement Agreement. 4. A Tax Abatement Agreement may be assigned to a new owner but only after written consent has been obtained from the City. 5. These guidelines and criteria adopted by the City Council are effective for two years from the date adopted and shall remain in force for two years. At the end of the two year period these guidelines and criteria may be readopted, modified, amended or rewritten as the conditions may warrant. 6. Each affected jurisdiction shall determine whether or not said affected jurisdiction elects to become eligible to participate in tax abatement. In the event the affected jurisdiction elects by resolution to become eligible to participate in tax abatement, then such affected jurisdiction shall adopt guidelines and criteria by separate resolution forwarding a copy of both resolutions to all other affected jurisdictions. 7. These guidelines only apply to the City of Lubbock and any company wishing to apply for tax abatement from other taxing jurisdictions will need to contact the applicable taxing jurisdiction for their criteria and guidelines and requirements for applying for tax abatement. 8. In the event of a conflict between these guidelines and criteria and V.T.C.A., Tax Code, Chapter 312, then in such event the Tax Code shall prevail and these guidelines and criteria interpreted accordingly. 9. The guidelines and criteria once adopted by the City may be amended or repealed by a vote of three -fourths (3/4) of the members of the Lubbock City Council during the two-year term in which these guidelines and criteria are effective. 14 EXHIBIT C: Leprino Foods Company Application for Tax Abatement City of Lubbock Tax Abatement Agreement— Leprino Foods Company Page 12 EXHIBIT C LepId' no Foods 2830 Wen 3eAvenue Denver, Co 80211-222S February 21, 2022 Via Federal EVress 7760 9859 4721 Mrs. Cheryl Brock Director of Financial Planning and Analysis City of Lubbock Finance Department 1314 Avenue K 96 Floor Lubbock, TX 79401 Re: City of Lubbock Application for Industrial Tax Abatement Address • 4301 E 19' (Main Plant) and 4502 E 4t° (Wastewater Plant) Door Mrs. Brock: - Attached is our application for industrial tax abatement for the above referenced locations. Also included are the following attachments: • Attachment 1— Description of Applicant Company. • Part II — Project Information, Legal Description. • Attachment 2 — Site map showing project location. • Attachment 3 — Project description and equipment listing. • Attachment 4 — Distribution of products outside of Lubbock County • Attachment 5 — Lubbock Central Appraisal District Assessed value, and spreadsheet calculating L.eprino's portion of the square feet of respected parcels (Parcel R136647 and Parcel R318755). Please note: Part 1— Application Information, Annual Sales; Leprino does not maintain annual sales by location. Page 3 — Estimated Appraised Value on Site; the estimated values used are based on completion of the project. Please call me at (303) 480-2662 if you have any questions. Thank you for your time in this matter. Sinowely, Cbg� �I�u Colleen Kerddsuik Senior Tax Manager Encs 1 EXHIBIT C � Jubbock TEXAS City of Lubbock Application for Industrial Tax Abatement This application should be filed prior to the beginning of construction or the purchase of equipment. If applying for a tax abatement in a jurisdiction otha than City of Lubbock, a separate application must be completed for all other taxing jurisdictions. This application will become part of the Tax Abatement Agreement and any knowingly Use representations will be grounds for the voiding of the agreement. An original copy of this request should be submitted to Mrs. Cheryl Brock, Dnww of Financial Planning and Analysis, Finance Department, City of Lubbock, 1314 Avenue K, 9th Floor, Lubbock, TX 79401. Part I - Applicant Information Company Name: Lemma Fnnda (`mDannV�_ Telephone: 303-da0-2667 Annual Sales: bUA Mailing Address: 183n3I181h AMC,T'Ienxer. CC) RQZI 1 Corporation Partnership Application Date 02 /21 /2022 Physical Address: 4301 F 10 (tdain PW And 4502 E 40 (Wastewater Plant) Current Number of Employees: Employees in City Limits: t Years in Lubbock Proprietorship Attachment 1: Attach a description of the Applicant Company, including a brief history, corporate structure, business plan, and annual statement, if available. See attached Part U - Project Information Location Address: 3AI R t Um anti dSn2 R d!, i ,ihbprk Zipcode•70MI4 School Dlstrict:._Romeyelt index endent Sebnal Dintriet Legal Description: See attached Attachment 2: Attach site map showing project location and showing proposed construction if applicable Project Description: r New Construction Expansion Modernization Attachment 3: Attach statement fully explaining project, describe existing site and improvements, describe all proposed improvements and provide list of improvements and equoment for which abatement is requested, and /at of any tangible personal property presently existing on the Real Property if it is an existing facility. Is the site located in an Enterprise Zone? 2 Yes No Sectlon A,— Facility Informgft Type of Facility/abatement: E Advanced Technologies and Manufacturing Warehouse/Distribution Research and Development Value-added Agriculture Production Medical Services Information and Data Centers Corporate Headquarters — Regional/National Service Center The project is not included as a target industry, but has the potential of generating additional, significant Industrial Tax Abatement Application Pap I economic aevetopment opportmuties to Lubbock EXHIBIT C Describe product or service to be provided: Is the company a producer, manufacturer, or distributor of goods and services of which 50 percent or more are distributed outside Lubbock. E Yes No Attachment 4: Provide documentation demonstrating that the facility will distribute or manWacture goods and services of which 50 percent or more are distributed outside of Lubbock County, Is the company applying for tax abatementy New Company to Lubbock Existing Company The project meets one of the criteria in the Guidelines and Criteria Governing Tax Abatement for Industrial Projects, Section IV. 3. X Yes No Section B — Base Year Value Attach a statement of the assessed value of the Real Property, Facility, or existing facility for the base year from the Lubbock Central Appraisal District. Attachment S Lubbock Central Appraisal District Assessed Value See attached schedule Section C - Variance Is the applicant seeking a variance? Yes E No If "yes," attach letter requesting and justifying the variance, with supplemental information. PART III - ECONOMIC INFORMATION Construction Estimate: Start Date: Simmer 2022 Completion Date: 2I}126 Modernization: Estimated current economic life of structure Added economic life from modernization Permanent Job Creation/Retention: Contract Peak Construction Jobs--6M6sa/day 40 years 40 years Current employment: t Jobs to be Retained: Jobs created at opening: Ian By yew 2WA- If existing facility, what is the current plant payroll: $ N/A Estimated amount of new payroll: $ 35.400 000 Industrial Tax Abateumt Application Pages 2 EXHIBIT C Esdmated raised Valve On Site Land rovemmts Personal Pre Value on January 1 propeding abatement $420,6n Estimated value of new abatable immovements NA $76.500 000 $539,178,350 Estimated value of properties not subject to abatement $37,400,000 Estimated value of property after improvements Do you certify that this business (including any branch, division, or department of this business) does not currently, and will not knowingly in the future, employ an undocumented worker? W Yes No COmD=3r Representative to be Contacted: Colleen Kershisnik Name Sr Tax Manaser Mark Benson, Chief Procurement Officer Title VP Govennment Affairs Title 1830 W 386 Ave. Denver. CO 80211 303-480-2662 Address Phone Number c_kershisnik��p ofoods.com mbensonQ1,eminofoods com email e-mail Industrial Tax Abatement Application Page 3 EXHIBIT C City of Lubbock Leprino Foods Company Application for Industrial Tax Abatement Attachment a: Dion of Applicant Company Leprmo Foods Company, headquartered in Denver, Colorado, is a world leader m the production of premium -quality dairy food and ingredients. One of the largest producers of mozzarella cheese in the world, Leprino Foods is also a leading supplier of lactose, whey protein and sweet whey. Starting as a small, family -owned market selling grocery items and handmade Italian cheeses in iggo, Leprino's cheese was originally sold under the "Gina Marie" brand, a contraction of the Italian word "Regina" meaning queen. The name symbolized the highest quality and standards of Leprino Foods' products. Today, the company remains family -owned, employs approximately 5,000 people worldwide and has global sales in over 55+ countries. We have nine manufacturing facilities across the US and an expanding global footprint including a joint venture with Glanbia PLC in the U.K., with state-of-the-art plants in Llangefni in Wales; Magheralin in Northern Ireland; and Portlaoise in the Republic of Ireland In South America, the company operates a manufacturing facility in Tap tiara, Brazil. The company also has a sales and culinary innovation hub in Singapore, and representative offices in Shanghai and Tokyo. For more information, please visit .1e SECTION u BLOCK S E COUNTY Ro STSS 4111 OTN STREET) �omwrws E�J 30 cE�c' f }r ��� SECTION • BLOCK A E ♦TN STREET 1001 11 fall fill PRE LI MI NARYNOT FOR CONSTRUCTION f � � I ,'ift° • EXHIBIT C City of Lubbock — Aoulication for Industrial Tax Abatement Leono Foods Company 4301 E 199% Lubbock TX 79403 (Main Plant) 4502 E 40, Lubbock TX 79403 (Wastewater Treatment Plant) Part II — Project Information Legal Description: METES AND BOUNDS DESCRIPTION of a 158.949 acre tract of land, out of a 252.5 acre tract described under County Clerk File No. 2020059091 of the Official Public Records of Lubbock County, Texas and a 155.8 acre tract described under County Clerk File No. 2020059092 of the Official Public Records of Lubbock County, Texas, located in Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, and being further described as follows: BEGINNING at a 1/2" iron rod found in the East line of said Section 6, at the most Easterly Northeast comer of said 252.5 acre tract and this tract, which bears S. 01 °25'02" W. a distance of 544.55 feet from a 3/8" iron rod found at the Northeast comer of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas; THENCE S. 01°25'02" W., along the East line of said Section 6 and the Eastern boundary of said 252.5 acre tract, a distance of 2116.29 fat to a 1/2" iron rod found at the Northeast corner of a 160.0 acre tract (Southeast Quarter of said Section 6) described in Volume 3401, Page 326 of the Real Property Records of Lubbock County, Texas, the Southeast comer of said 252.5 acre tract and the most Easterly Southeast comer of this tract, same being the Southeast corner of the Northeast Quarter of said Section 6; THENCE N. 88036'42" W., along the South line of the Northeast Quarter of said Section 6, the Northern boundary of said 160.0 acre tract and the Southern boundary of said 252.5 acre tract, at 30.00 feet pass a 1/2" iron rod with cap marked "HRA" found in reference, continuing for a total distance of 2674.49 feet to a 1/2" iron rod with cap marked "Smith" found at the mid corner of said Section 6, the Northwest comer of said 160.0 acre tract, the Northeast comer of said 155.8 acre tract and a corner of this trail, THENCE N. 88°15'05" W. a distance of 749.82 feet to a 1/2" iron rod with cap marked'IUW found at a corner of this tract; THENCE N. 46*52106" E., a distance of 1062.59 feet to a 1/2" iron rod with cap marked "HRA" found in the West line of the Northeast Quarter of said Section 6, at a corner of this tract; THENCE N. 01059-13" E., along the West line of the Northeast Quarter of said Section 6, at 1869.10 feet pass a 1/2" iron rod with cap marked "HRA" found in the South line of a 40 foot right-of-way easement described in Volume 215, Page 190 of the Deed Records of Lubbock County, Texas, continuing for a total distance of 1909.10 feet to a "MAO" nail with washer 1 EXHIBIT C marked "HRA" found in the North line of said Section 6 and the Northern boundary of said 252.5 acre tract, at the most Northerly Northwest comer of this tract; THENCE S. 88-39'19" E., along the North line of said Section 6 and the Northern boundary of said 252.5 acre tract, a distance of 1848.06 feet to a "MAG" nail with washer marked "HRA" found at the most Northerly Northeast corner of said 252.5 acre tract and this tract; THENCE S. 01 °25'02" W., at 40.00 feet pass a 1/2" iron rod with cap marked "HRA" found in the South line of said 40 foot right-of-way easement, continuing for a total distance of 544.50 feet to a 1/2" iron rod with cap marked "HRA" found at an "ell" comer of this tract; THENCE S. 88039'05" E., at 770.00 feet pass a 1/2" iron rod with cap marked "HRA" found in reference, continuing for a total distance of 800.00 feet to the Point of Beginning. SAVE AND EXCEPT THE FOLLOWING DESCRIBED TRACT OF LAND: METES AND BOUNDS DESCRIPTION a 0.0430 acre tract, being that same tract described in Volume 1771, Page 194 of the Deed Records of Lubbock County, Texas, located in the North Half of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, and being further described as follows: BEGINNING at a 1/2" iron rod with cap marked "HRA" found in the South line of a 40 foot right-of-way easement described in Volume 215, Page 190 of the Deed Records of Lubbock County, Texas, at the Northeast comer of this tract, which bears N. 88*39'19" W. a distance of 2480.47 feet and S. 01 *20141" W. a distance of 40.00 feet from a 3/8" iron rod found at the Northeast corner of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas; THENCE S. 01 °46'55" W. a distance of 25.00 feet to a 1/2" iron rod with cap marked "HRA" found at the Southeast corner of this tract; THENCE N. 88*39119" W. a distance of 75.00 feet to a 3/8" iron rod found at the Southwest corner of this tract; THENCE N. 01 °46'55" E. a distance of 25.00 feet to a 1/2* iron rod found in the South line of said 40 foot right-of-way easement, at the Northwest corner of this tract; THENCE S. 8803VI9" E., along the South line of said 40 foot right-of-way easement, a distance of 75.00 feet to the Point of Beginning. Bearings are relative to Chid North, Texas Coordinate System of 1983, North-Central Zone, 2011 (epoch 2010.0). Distances are Surface, U.S. Survey Feet. EXHIBIT C METES AND BOUNDS DESCRIPTION of a 101.006 acre tract of land out of Section 6, Block O, E. L. & R. R Railroad Company Survey, Lubbock County, Texas, being fiuther described as follows: BEGINNING at a "MAG" nail with washer marked "IRA" found at the Southwest comer of this tract, which bears S. 88°39'02" E. a distance of 981.90 feet from the Southwest corner of said Section 6, Block O, E. L. & R. R. Railroad Survey, Lubbock County, Texas; THENCE N. 01 *4611" E. a distance of 2661.73 feet to a 1/2" iron rod with cap marked 'TIRA" found in the North line of the Southwest Quarter of said Section 6, for the Northwest coiner of this trail; THENCE S. 88°15V5" E., along the North line of the Southwest Quarter of said Section 6 a distance of 1656.51 feet to a 1/2" iron rod with cap marked "Smith" found at the mid corner of said Section 6, for the Northeast corner of this tract; THENCE S. 01 °45'55" W., along the East line of the Southwest Quarter of said Section 6 a distance of 2650.12 feet to a railroad spike found at the Southeast corner of the Southwest Quarter of said Section 6 and the Southeast comer of this tract; THENCE N. 88°39'02" W., along the South line of said Section 6 a distance of 1656.76 feet to the Point of Beginning. SAVE AND EXCEPT THE TWO FOLLOWING DESCRIBED TRACT OF LAND: METES AND BOUNDS DESCRIPTION of a 1.007 acre tract described in Volume 5686, Page 324 of the Real Property Records of Lubbock County, Texas, located in the Southwest Quarter of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas, being further described as follows: BEGINNING at a 1/2" iron pipe found at the Southeast comer of this tract which bears N. 88039102" W. a distance of 60.67 feet and N. 0102958" E. a distance of 28.34 feet from a railroad spike found at the Southeast corner of the Southwest Quarter of Section 6, Block O, E. L. & R. R. Railroad Company Survey, Lubbock County, Texas; THENCE N. 98036141" W. a distance of 159.58 feet to a 1/2" iron pipe found at the Southwest corner of this tract; THENCE N. 01 *4017" E. a distance of 275.00 feet to a l/2" iron rod found at the Northwest corner of this tract; THENCE S. 88°3641" E. a distance of 159.58 feet to a 1/2" iron rod found at the Northeast coma of this tract; THENCE S. 01 °46' 17" W. a distance of 275.00 feet to the Point of Beginning. Bearings are relative to Grid North, Texas Coordinate System of 1983, North-Central Zone, 2011(epoch 2010.0). Distances are Surface, U.S. Survey Feet. EXHIBIT C City of Lubbock Leprino Foods Company Application for Industrial Tax Abatement Attachment 3: Detailed Description of the Project Leprino Foods is building a new 86o,000 square foot Mozzarella Cheese and Nutrition manufacturing facility in Lubbock, Texas. The new Manufacturing Plant will process 4 million pounds of milk per day in the first Phase and expand to a total of 8 million pounds of milk per day. The large volume of milk required for an operation of this size will be supplied by local Dairy Farmers. Within the facility will be Leprino Foods proprietary Cheese making equipment, as well as large scale Whey Nutrition processing systems The factory will be monitored and controlled through leading edge Automation and Instrumentation and supported by World Gass Maintenance programs. The site will be constructed East of the 289 Loop Rd and to the North of East Country Rd 67oo. The address of the main plant is 43oi E i9th, and the wastewater treatment plant is 4502 E Lubbock, TX 79403. It is anticipated that construction would begin in 4Q 2022 with commercial operations commencing in 1Q 2025. It is anticipated that the suite of products made in the plant would be; Mozzarella and Provolone Blocks; Shredded Pizza Cheese; Whey Protein Powder; and Sweet Whey Powder. The finished products will be distributed throughout the United States and Internationally to satisfy Leprino's customers Globally. Below is a list of major equipment: • Milk Receiving Bays • Gas Fired Boilers • Refrigeration Compressors • Cooling Towers • Electrical Transformers • Switchgear • Air Compressors • Heat Exchangers • Pasteurizers • Pumps • Cheese Vats • Liquid Silos • Starter Culture Tanks • Brining Equipment EXHIBIT C • Powder Handling Equipment • Block Molding Equipment • Film Packaging equipment • Cheese Shredding equipment • Large scale freezers • Conveyors • Palletizers • High Speed Fillers • Case Packing equipment • Separators • Membrane Systems • Evaporators • Spray Dryers • Powder Packaging equipment • Warehouses • Waste Water Operations • Instrumentation equipment • Controls equipment • piping Additional infrastructure to support the site will include: • Site development / roads • Utility piping, electrical substation • Office buildings h EXHIBIT C Leprino Foods Company City of Lubbock Application for Industrial Tax Abatement Attachment 4: Leprino will distribute or manufacture goods and services of which go percent or more are distributed outside of Lubbock County. Leprino is the largest mozzarella cheese producer in the world, and one of the largest producers of whey and other dairy products. These dairy products —including ones produced at the forthcoming Lubbock facility—wiill be distributed and sold widely across the U.S. and potentially on an international scale. While Leprino has customers in Lubbock, the vast majority of dairy products (more than g5%) manufactured at the Lubbock facility will be sold to customers outside of Lubbock County. N EXHIBIT C Y/ v a ptacknex� S 1/5 • . ti EXHIBIT C LUBBOCK CENTRAL APPRAISAL DISTRICT Property Owner Property Address Tax Year 2021 Assessed Value R319755 LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE INC E 4TH ST, LUBBOCK, TX 79403 2021- . $34,509 2021 GENERAL INFORMATION 2021 VALUE INFORMATION Property Status Active Improvement Homesite Value $0 Property Type Real Improvement Non-Homesite Value _ $0 Legal Description BLK O SEC 6 AS 1407 TR 1 C & RR1 C AC: 249.841 Total Improvement Market Value $0 Neighborhood 1001- Roosevelt Isd Account AC56006-91407 30000-000 Land Homesite Value $0 Related Properties R136696 Land Non-Homesite Value $346,509 Map Number S96 LandAgcultural Market Value $0 2021 OWNER INFORMATION Total Land Market Value $346,509 Owner Name LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE INC Owner ID 00256677 Total Market Value $346,SO9 Exemptions Exempt -Governmental Agricultural Use $0 Percent Ownership 100% Timber Use $0 Mailing Address 1500 BROADWAY#FL 6 LUBBOCK, TX 79401 Total Appraised Value $3460509 Agent - - Homestead Cap Loss— 40 Total Assessed Value $346509 2021 ENTITIES & EXEMPTIONS SpecialExemptlons EXG-Exempt-Governmental TAXING ENTITY EXEMPTIONS EXEMPTIONS AMOUNT TAXABLEVALUE - TAX RATE PER 100 TAX CEILING GLB- Lubbock County $0 $0 035999 0 HSP- Lubb Cnty Hospital $0 $0 0.103164 0 Roosevelt ISD $0 $0 .0 i WH WHP- Hl Plains Water `----- ---- $0 $0 0.0051 .00510051 0 II TOTALS — - - _- - ---- — - -- 1.736154 2021 LAND SEGMENTS LAND SEGMENTTYPE STATE CODE 1- Irr Crop XV - Other Exemptions Ind public prop, religious, etc. 2 - Irr Crop XV - Other Exemptions Ind public prop, religious, etc 3 - Dry Crop XV - Other Exemptions loci public prop, religious, etc 4 - Dry Crop XV - Other Exemptions Ind public prop, 5 - Commercial XV - Other Exemptions Ind public prop, — _—_ reggious, etc. I f!l(,: VALUE HISTORY YEAR IMPROVEMENT 2020 $0 2019 $0 2018 $0 2017 $0 2016 $0 SALES HISTORY HOMESITE MARKET VALUE AG USE TIM USE LAND SIZE No $315,682 $0 $0 157.841000 acres No $0 $0 $0 42.159000 acres No $28,297 s0 $0 34.341 OW acres No $1,530 $0 $0 15.000000 acres No $1,000 $0 $0 O.S000OOacres LAND MARKET I AG MARKET - $5W $SOO l $199A73 $500 $SOO $199A73 $SOO $500 $199,473 $SOO $500 $199A73 $500 $500 $199,473 AG USE - APPRAISED - HS CAP LOSS ASSESSED $72,1II $72,611 $0 $7$611 - $83,687 $84,187 $0 $84,187 $9D,766 $91,266 $0 $91,266 $53,30 $S3,846 $0 $53.846 $62,901 $63A01 $0 $63AO1 a/5 f DEED. DATE 12/MO20 1 /2S/2010 -- 1 _SELLERvT-_...___ Bl1YER EXFIIBIT O _.._._----•-�-- ------ • - - CARLTON, WILLIAM H. Jr LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE INC CARLTON, WILLWM H, Jr INSTR #6 VOLUME/PAGE 2010-2205 EXHIBIT C LUBBOCK CENTRAL APPRAISAL DISTRICT Property Owner R;6647 LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE INC Property Address Tax Year 2021 Assessed Value - 2§ . ® $260,253 2021 GENERAL INFORMATION 2021 VALUE INFORMATION Property Status Acdve Improvement Homesite Value $0 Property Type Real Improvement Non-Homesite Legal Description BLK O SEC 6 AS 1400 TR A LESS W/PT ACS AQ 131.31 _ _ Value Neighborhood 1001- RooseveR Isd Total Improvement Market so Value Account ACS6006-91400-50000-000 Related Properties R306056 Land Homesite Value $0 Map Number 596 Land Non-Homesite Value $260,253 2021 OWNER INFORMATION LandA&ricukural Market value $0 Owner Name LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE INC Total Land Market Value _ $260,253 Owner ID 00256677 Exemptions Exempt - Governmental Total Market Value $260,253 Percent Ownership 100% Agricultural Use $0 MaiUng Address 1500 BROADWAY #FL 6 WBBOCK, TX 79401 Timber Use $0 Agent - Total Appraised Value $260,253 Homestead Cap Loss 40 Total Assessed Value $260,253 2021 ENTITIES & EXEMPTIONS Special Exemptions EXG - Exempt- Gu ernmental TAXING ENTRY �MPTIONS EXEMPTIONS AMOUNT TAXABLE VALUE .-_ TAX RATE 100 PER TAX i CEILING GLB- Lubbock County $0 _• $0 0.35999 0 Hospital Cnty $0 $0 0.103164 0 SRS- Rooseveh ISD $0 $0 1.2679 0 �WHP- HI Plains Water $0 $0 0.0051 0 TOTALS � --•-�..................-...._._.-.._ 1.736154 -_ _.__... 2021 LAND SEGMENTS LAND SEGMENT STATE CODE MARKET AG -USE TIME HOMESR VALUE USEF----�LAND SIZE TYPE r` 1- Irr Crop XV - Other Exemptions Intl public No prop. rehglous, etc. $257,740 $0 $0 •- 128.870000 acres XV - Other Exemptions Intl public -2^Dry Crop - prop, religious, etc. --NO--- - sZ513 --.-- ^ f0 - 2.440000 aces TOTALS - - S ft 1313 saes JALUE HISTORY YEAR IMPROVEMENT LAND MARKET AG MARKET -� AG USE APPRAISED HS CAP LOSS ASSESSED 2020 $0 $0 SO $260,253 $62,603 $62,603 $0 $62,603 2019 $O $0 $0 $260,253 $72,208 $72,208 $0 $72,208 2018 $0 $0 $0 $260,253 $80,314 $80,314 $0 $80,314 2017 $0 $0 $0 $214,710 $SO,425 $50,425 $0 $50.425 2016 $0 $214,710 $214,710 $0 $0 $214,710 $0 $214,710 ''k r •it SALES HISTORY DEED SELLER DATE 12/29/2020 EPPES, CORY GORTON 6/28/2011 EPPES, BILL G 10/9/2004 EPPES)ESSIE MAY ESTATE EXHIBIT C BUYER LUBBOCK ECONOMIC DEVELOPMENT ALLIANCE INC EPPES, CORY GORTON EPPES, BILL G INSTR # VOWME/PAGE 2020- S9092 2011- 21320 2004- 9492/193 47948 5145