HomeMy WebLinkAbout81-12 RESOLUTIONRESOLUTION NO. 81-12
A RESOLUTION TO CERTIFY THE CITY OF FAYETTEVILLE'S
ENDORSEMENT OF APGR GREEN, INC., LOCATED IN FAYETTEVILLE,
ARKANSAS, TO PARTICIPATE IN THE ARKANSAS EQUITY
INVESTMENT TAX CREDIT PROGRAM
WHEREAS, the regulations of the Arkansas Equity Investment Tax Credit Program
require local government endorsement of businesses or enterprises that wish to participate in and
take advantage of the program; and
WHEREAS, APGR Green, Inc. has been declared by the management of the Arkansas
Equity Investment Tax Credit Program to be an appropriate applicant to benefit from the features
of the program; and
WHEREAS, APGR Green, Inc. is a company that sells, markets and distributes an EPA
approved sub -terrain pesticide for eradicating fire ants and moles; and
WHEREAS, the company will initially have two positions with an annual salary of
$75,000.00 and intends to expand to up to 8 positions by Year 3 (2014) for an expected annual
payroll of $600,000.00. The positions will comprise of semi -skilled, skilled, and management
positions; and
WHEREAS, APGR Green, Inc. has agreed to furnish to the management of the Arkansas
Equity Investment Tax Credit Program all information necessary to assure compliance with the
terms and conditions of the program.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby endorses
and authorizes the Mayor to execute any required Certificate of Local Government Endorsement
of APGR Green, Inc. for it to participate in the Arkansas Equity Investment Tax Credit Program
and to be eligible to offer income tax credits to its investors in accordance with the regulations of
the Arkansas Equity Investment Tax Credit Program.
PASSED and APPROVED this 17th day of April, 2012.
APPROVED:
I 1 NELD J ' ! • N, Mayor
ATTEST:
SONDRA E. SMITH, City Clerk/Treasurer
Don Marr, Chief of Staff
Submitted By
City of Fayetteville Staff Review Form
City Council Agenda Items
and
Contracts, Leases or Agreements
4/17/2012
City Council Meeting Date
Agenda Items Only
Mayor's Administration
Division
Action Required:
Chief of Staff
Department
Resolution of the City of Fayetteville Certifiying Local Government Endoresement of APGR Green Inc to participate in
the Arkansas Equipty Investment Tax Credit Program and to be eligible to offer income tax credits to its investors in
accordance with the regulations of the Arkansas Equity Investment Tax Credit Program
$
Cost of this request
Account Number
Project Number
Budgeted Item
$
Category / Project Budget
Program Category / Project Name
Funds Used to Date Program / Project Category Name
Remaining Balance Fund Name
Budget Adjustment Attached
Dep aftent Director
Finance and Internal Services Director
Date
1{-3 -rZ
Date
5.21512.
Date
Date
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Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
Received in Cit�r4- 4 -1 2 P03: 1 b R CV D
Clerk's Office
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Received in
Mayor's Office
Comments:
Revised January 15, 2009
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ARKANSAS
City Council Agenda Memo
City Council Meeting Date:
April 17, 2012
To: Mayor and Members of t City Council
From: Don Marr, Chief of Staff
Thru: Mayor Jordan
Date: 04/04/2012
Subject: Arkansas Equity Investment Tax Credit Program Endorsement Request
Recommendation:
The City Staff and Administration recommend on behalf of the Mayor's office that the City Council
of the City of Fayetteville, AR pass a resolution in support of APGR Green Inc. request to
participate in the State of Arkansas Equity Investment Tax Credit Program.
Background:
The City of Fayetteville, AR was contacted by Steve Clark, CEO & President of the Fayetteville
Chamber of Commerce, Chung Tan the City of Fayetteville's Economic Development
Representative Contractor through the Fayetteville Chamber of Commerce and APGR Green Inc..
seeking the City's endorsement of APGR Green Inc to Participate in the Arkansas Equity
Investment Tax Credit Program.
APR is a new start up company based in Fayetteville AR that will initially sell, market and
distribute an EPA approved sub -terrain pesticide for eradicating fire ants and moles. The
Company plans to expand and include a mixing center in Fayetteville by 2013. The product is
environmentally safe and non-toxic. The Company will create two (2) new positions paying
approximately $75,000 in 2011, and intends to expand up to 8 positions by 2014, for an expected
payroll of approximately $600,000. These are management, skilled and semi -skilled positions.
Budget Impact:
There is no budgetary impact for the City on this item.
113 West Mountain 72701 (479) 575-8323 accessfayetteville.org
TDD (Telecommunications Device for the Deaf) (479)-521-1316
Fayetteville
• Chamber of Commerce
To: Mayor Lioneld Jordan
Don Marr, Chief of Staff
From: Steve Clark, President & CEO
Date: March 19, 2012
Subject: Request for a Resolution on behalf of APGR Green, Inc.
RECEIVED
MAR 21 2012
CITY OF FAYt1 I EVILLE
MAYORS OFFICE
Dear Mayor Jordan:
APGR Green, Inc. (APGR) is making an application with the Arkansas Economic Development
Commission (AEDC) to seek approval to offer income tax credits to its investors through the
Arkansas Equity Investment Tax Credit program. The regulations of the Arkansas Equity
Investment Tax Credit Program require local government endorsement of the businesses or
enterprises that wish to participate in and take advantage of this program.
APGR is a new start-up company based in Fayetteville that will initially sell, market, and
distribute an EPA approved sub -terrain pesticide for eradicating fire ants and moles. It intends to
expand to include a mixing center in Fayetteville by 2013. APGR's product is environmentally
safe and non-toxic. It is a product that may rapidly change the way the US addresses the
challenge of exterminating fire ants and moles. APGR plans to create two new positions with an
annual salary of $75,000 this year (Year 1) and intends to expand to up to 8 positions by 2014
(Year 3) for an expected annual payroll of $600,000. The positions will comprise of semi-
skilled, skilled, and management positions.
The Chamber Economic Development Team has identified APGR as the type of businesses
targeted for development in Fayetteville. It has a technology that is patented and its product has
received EPA approval.
I respectfully request that the City passes a Resolution to show support for APGR's application.
Thank you for your kind consideration in this matter.
123 W. Mountain/PO Box 4216, Fayetteville, AR 72702 Tel: (479) 521-1710; Fax: (479) 521-1791; www.fayettevillear.com
RESOLUTION NO.
A RESOLUTION TO CERTIFY THE CITY OF FAYETTEVILLE'S
ENDORSEMENT OF APGR GREEN, INC., LOCATED IN FAYETTEVILLE,
ARKANSAS, TO PARTICIPATE IN THE ARKANSAS EQUITY
INVESTMENT TAX CREDIT PROGRAM
WHEREAS, the regulations of the Arkansas Equity Investment Tax Credit Program
require local government endorsement of businesses or enterprises that wish to participate in and
take advantage of the program; and
WHEREAS, APGR Green, Inc. has been declared by the management of the Arkansas
Equity Investment Tax Credit Program to be an appropriate applicant to benefit from the features
of the program; and
WHEREAS, APGR Green, Inc. is a company that sells, markets and distributes an EPA
approved sub -terrain pesticide for eradicating fire ants and moles; and
WHEREAS, the company will initially have two positions with an annual salary of
$75,000.00 and intends to expand to up to 8 positions by Year 3 (2014) for an expected annual
payroll of $600,000.00. The positions will comprise of semi -skilled, skilled, and management
positions; and
WHEREAS, APGR Green, Inc. has agreed to furnish to the management of the Arkansas
Equity Investment Tax Credit Program all information necessary to assure compliance with the
terms and conditions of the program.
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby endorses
and authorizes the Mayor to execute any required Certificate of Local Government Endorsement
of APGR Green, Inc. for it to participate in the Arkansas Equity Investment Tax Credit Program
and to be eligible to offer income tax credits to its investors in accordance with the regulations of
the Arkansas Equity Investment Tax Credit Program.
PASSED and APPROVED this 17th day of April, 2012.
APPROVED: ATTEST:
By: By:
LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer