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Home My WebLink About99-90 RESOLUTIONRESOLUTION NO. A RESOLUTION PARTICIPATE IN PROGRAM. 99-90 ATJTHORIZING ASTECHNOLOGY TO THE. ARKANSAS. ENTERPRISE ZONE g C y :. WHEREAS, the City of Fayetteville has approved the zone designation of Enumeration. District 11:1,• :Block 2 with the corporate limits of the City, and; WHEREAS, the local government, must .endorse a business or enterprise to participate in the Arkansas Enterprise Zone Program and benefit from; the. as provided in .the Arkansas Enterprise Zone Program Regulations of 1989, and; WHEREAS, said endorsement must be made on specific form available from AIDC, and; WHEREAS, Astechnology to be located at 1893 Commerce Drive has sougnt to participate in the program and has been found by the management of the Enterprise Zone Program to be eligible for the benefits thereof, and more specifically has requested benefits accruing from construction of the specific, facility, and; BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE, CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the Astechnology be endorsed by the City of Fayetteville for benefit from the refunds/exemptions as provided in the Arkansas Enterprise Zone Program Regulations. of 1989 through June 30, 1995. PASSED AND APPROVED this 19th day of June ATTEST: �r 'CityTg7C.L St:7'4 rn Fit eL r APPROVED: By: Ai4/��/ Mayor , 1990. APPLICATION FOR TAX CREDIT Instructions • RECFIVED APR 51990 A company will submit this application in order to receive qualification status as a participant in the enterprise zone program. The application can be submitted at any time during the year. Please attach a map clearly identifying the enterprise zone and the location of the facility/business within the zone. A map may be obtained from the local governing authority. The completed application form must be submitted to the local enterprise zone management team. The local governing authority (city or county government) is responsible for sending the original application and the resolution to: Coordinator Enterprise Zone Program - Arkansas Industrial Development Commission One State Capitol Mall Little Rock, AR 72201 If any item in the application needs clarification, or if you have questions on the enterprise zone program, contact the local governing authority or AIDC. Please remove the cover page before submitting the application. Application# ARKANSAS ENTERPRISE ZONE PROGRAM SECTION A - COMPANY INFORMATION 1 Name of Firm: ASTECHNOLOGY 2 Principal mailing address: 1893 3 Location of Business: 1893 Commerce Drive, Fayetteville (Washington County) (Street Address) (City or County) 4. Enterprise Zone by Census Designation: CTX , BG , ED 5. Standard Industrial Classification Code (SIC): 3714 6 Description of principal business activity , products manu- factured, etc. Manufacturing Aluminum Road Wheels. Commerce Drive 7. Date.firm'began or anticipates operations in Enterprise Zone: 9-8-89 8. Contact person: Craig Hoskins 9. Phone 501/442-8396 SECTION B - EMPLOYMENT DATA 1 How many employees do you now have? TEN as of 5-10-90 (number) (date) 2. What was your average annual employment for the previous fiscal year? $92,337.00 . (Add monthly' averages and divide by 12 or by number of months in business.) 3 How;many additional full time (20 hours or more per week) employees do you anticipate hiring during this fiscal year? THREE In order to receive enterprise zone tax credits, AIDC strongly encourages hiring through the local Arkansas Employment Security Division. The business must certify (and verify after hiring) that at least 35% of its net new employees meet the criteria set forth in Section 1 published by the Revenue Division of the Arkansas Enterprise Zone Program Regulations. In proceeding with employment, remember that 35% of all new employees must be (a) residents of the same county as the location of the business or counties adjacent thereto; and (b) have been receiving some form of public assistance immediately prior to employment; or are considered unemployable by traditional standards or lacking in basic skills at the time of employment. Public assistance means any contribution, monetary or otherwise, made by federal, state, county, and/or local governments to individuals who qualify therefore by reason of indigence and/or unemployment, as determined by the applicable rules, regulations, or guidelines, of each public assistance program (e.g. unemployment insurance compensation, Section 8 housing payments, Social Security, etc.) Employees considered unemployable by traditional standards should have met items 2, 3, and 4 of those listed below. A person that would qualify as lacking in basic skills should meet criteria 1, 3, and 4 of the following items: (1) be required to participate in a company training program; or (2) been unemployed for at least 13 weeks prior tc employment with the company; (3) should not have quit last employer without goc cause to gain employment with the company; an( (4) have registered with either the Arkansas •Employment Security Division or a private employment agency. 4. Estimated number of qualifying net* new employees (exclude owners) for which you expect to take the $2,000 income tax credit. -0- *Net - difference between annual average of one year over the average of previous year. SECTION C - INFORMATION FOR SALES/USE TAX 1 Describe the project and items for which sales/use tax credit is requested. Include whether expansion or new construction of building space; identify whether project is phased development if there are plans for expansion in the future; and construction schedule and purchase of machinery/equipment schedule. Provide examples of expected expenses such as type of equipment and activities to be carried out in new or expanded facilities. NOTE: No sales or use tax rebates can be issued on Licensed Motor Vehicles. Rebates issued on building materials are primarily those which become a permanent part of the structure.. Installing pilot plant facilities for the production of aluminum automobile wheels utilizing a new and innovative manufacturing technique. 2. Anticipated Costs: $ Land $ Building $2,000,000 Equipment $ Other (describe on separate sheet) $2,000,000 Total 3. The business and its contractors must give preference and priority to Arkansas Manufacturers, suppliers, contractors and labor, except where it is not reasonable possible to do so without added expense, substantial inconvenience or sacrifice in operation efficiency. Provide an estimate of the percent of expenditures in the following categories: Arkansas: Outside. Arkansas: • Building, Machinery Equipment Labor .5 g 50 % 99.5 8 50 % 4. Explain the need for purchases outside of Arkansas: Machinery and equipment required are unavailable within the state of Arkansas. 5 Projected Construction Start 6. Projected Construction Completion 7 Projected Commencement of Hiring SECTION D - INFORMATION FOR INCOME TAX EXEMPTION 1. Is ownership of your business: Individual Fiduciary Partnership x Taxable Corporation Small Business Corp. Owner(s) Name Percent Ownership Social Security or Corporate Tax T.D. Number Superior Astechnology, Inc. 50% 954246319 Alumax Astechnology, Inc. 50% 581859825 NOTE: The Federal Tax I.D. Number of Astechnology is 95-4243038 2. A business must file its Arkansas income tax statement no later than 4 1/2 months after the end of the calendar or fiscal year. When will this company file our state income tax return forms? 1-1-91 to 5-15-91. (date) (date) • 3. CERTIFICATION BEFORE ME, the undersigned authority, personally came and appeared Craig A. Hoskins who being first duly sworn (Name of Company Official did depose and say, that s/he is Operations Manager of (Title) Astechnology (Company) This affidavit is made for the specific purpose of verifying that s/he has examined the information contained in these nine pages. Swornmto'and subscribed before me the 15 day of May 19 90 , o-4( 40 (No ary) My commission expires By Le 1 /99-9 (Signature of Company Official)