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ORD 39626 Airlite IML Building 3 TIF AgreementCity of Omaha Jim Suttle, Mayor Honorable President CITY CL.C::r;,~. OM f, f I:,. t~ [ ~· ;.'. ·\ ·.:' , March 12, 2013 Planning Department Omaha/Dougla,; Civic Center 1819 h1rnam Street, Suite 1100 ( )maha, Nebraska 68183 (402) 444-5150 Tddax (402) 444-6140 R. E. Cunningham, RA, F.SAME Director and Members of the City Council, The attached Ordinance transmits a Redevelopment Agreement between the Airlite Plastics Co. and the City of Omaha for a redevelopment project located at 6110 Abbott Drive. The Redevelopment Agreement implements the Airlite IML Building #3 Tax Increment Financing (TIF) Redevelopment Project Plan, which proposes constructing a new 43,000 square foot building addition to its existing manufacturing facility within the Airport Business Park/Riverfront Industrial Park area, inclusive of an extension of the existing rail spur. The Redevelopment Agreement authorizes the City's participation in the redevelopment by providing up to $1,655,240.00 in tax increment financing (TIF) to offset the costs of site work, architectural and engineering fees, special foundations due to the soil conditions in the Airport Business Park, and any public improvements, which includes $30,000.00 of the TIF allocation toward the Airport Business Park Public Improvement/Detention Center Fund. The estimated total project cost is $57,803,000.00, but is subject to change as final costs come in. Your favorable consideration of this Ordinance will be appreciated. Respectfully submitted, R. E. Cunning a Planning Director Approved: Leslie A. Schaefer Interim Finance Director 1~ 1820 dlh Referred to City Council for Consideration: cz~~ Robert G. Stubbe, P.E. Public Works Director . 5.13 Date ~-/-/3 Date ORDINANCE NO.---'~=-----~~~--- AN ORDINANCE approving a redevelopment and tax increment financing loan agreement between the City of Omaha and Airlite Plastics Co., a Nebraska· Corporation to implement the Airlite IML Building #3 Tax Increment Financing (TIF) Redevelopment Project Plan located at 6110 Abbott Drive which proposes constructing a new 43,000 square foot building addition to its existing manufacturing facility within the Airport Business Park/Riverfront Industrial Park area, inclusive of an extension of the existing rail spur; the agreement authorizes the use of up to $1,655,240.00 in excess ad valorem taxes (TIF) generated by the development to help fund the cost of the project; and providing for an effective date. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF OMAHA; Section 1. The Mayor is hereby authorized to execute, and the City Clerk to attest, the attached Redevelopment Agreement between the City of Omaha and the Airlite Plastics Co., a Nebraska Corporation to authorize the use of up to $1,655,240.00 in TIF to offset the costs of site work, architectural and engineering fees, special foundations due to the soil conditions in the Airport Business Park, and any public improvements, which includes $30,000.00 of the TIF allocation toward the Airport Business Park Public Improvement/Detention Center Fund, with estimated total project cost in excess of $57,803,000.00, in addition to any other documents necessary or appropriate to implement the Redevelopment Agreement or to consummate the loan. ORDINANCE NO. {3~.gk PAGE2 Section 2. Said Redevelopment Agreement contains obligations undertaken pursuant to the Nebraska Community Development Law and Sections 18-2147 through 18-2150, and, are not otherwise obligations of the City of Omaha. Section 3. This Ordinance shall be in full force and take effect fifteen (15) days from and after the date of its passage. INTRODUCED BY COUNCILMEMBER APPROVED BY: MAR 2 6 2013 ?-o 1820 dlh REDEVELOPMENT AGREEMENT THIS AGREEMENT ("Agreement") is entered into by and between the City of Omaha, a Nebraska Municipal Corporation in Douglas County, Nebraska, and Airlite Plastics Co., a Nebraska Corporation. RECITALS: WHEREAS, on January 29, 2013, by Resolution No. 8, the City Council of the City of Omaha approved the Airlite IML Building #3 Tax Increment Financing Redevelopment Project Plan for a project located at 6110 Abbott Drive which proposes constructing a new 43,000 square foot building addition to its existing manufacturing facility within the Airport Business Park/Riverfront Industrial Park area, inclusive of an extension of the existing rail spur as shown in Exhibit "A", a site plan which is attached hereto and made a part hereof; and, WHEREAS, the Airlite IML Building #3 Tax Increment Financing (TIF) Redevelopment Project Plan provided for $1,655,240.00 in TIF to offset the costs of site work, architectural and engineering fees, special foundations due to the soil conditions in the Airport Business Park, and any public improvements, which includes $30,000.00 of the TIF allocation toward the Airport Business Park Public Improvement/Detention Center Fund; and, the total project cost is estimated to be $57,803,000.00; and, WHEREAS, this Agreement is a redevelopment agreement prepared pursuant to the Nebraska Community Development Law in order to implement the above-referenced Redevelopment Plan, and contemplates the use of the excess ad valorem taxes generated by such development. IN CONSIDERATION OF THESE MUTUAL COVENANTS, THE PARTIES AGREE AS FOLLOWS: - I - SECTION 1. DEFINITIONS The following terms, whether plural or singular, shall have the following meanings for purposes of this Agreement. 1.1 "City" shall mean -the City of Omaha, Nebraska, a Municipal Corporation of the metropolitan class or such successor entity lawfully established pursuant to the applicable provision of the Nebraska Community Development Act. 1.2 "Owner" shall mean -Airlite Plastics Co., a Nebraska corporation, and its successors and assigns. 1.3 "Director" shall mean -the Director of the City of Omaha Planning Department. 1.4 "Redevelopment Project" shall mean -a new 43,000 square foot building addition to its existing manufacturing facility within the Airport Business Park/Riverfront Industrial Park area, inclusive of an extension of the existing rail spur, to accommodate Owner's expanding manufacturing needs to produce plastic injected food packaging products, located at 6110 Abbott Drive as shown on the Site Plan Exhibit "A". 1.5 "Redevelopment Site" shall mean -the area legally described on Exhibit "B", attached hereto. 1.6 "Redevelopment Note (TIF Funds/TIP Proceeds)" shall mean -any obligation issued by the City and secured by the excess ad valorem taxes generated within the Redevelopment Site. 1. 7 "Excess ad valorem taxes" shall mean -the additional real estate property taxes generated by this Redevelopment Project pursuant to Section 18-2147 of the Nebraska Revised Statutes. 1.8 "Division Date Year" for the purposes of this Agreement, Note and the statute shall mean -that excess ad valorem taxes shall be divided for the project beginning in the tax year this Agreement is executed, but not more than 60 days thereafter, and continuing for 15 years or until the Redevelopment Note is discharged, whichever occurs first. SECTION 2. OBLIGATIONS OF THE CITY The City shall: 2.1 execute and deliver to the Owner at closing the Redevelopment Note in substantially the same form as the copy attached hereto as Exhibit "C". - 2 - 2.2 grant Redevelopment Loan proceeds to the Owner in the sum of $1,655,240.00. 2.3 pay debt retirement principal and interest from the Excess Ad Valorem Taxes (TIF tax proceeds). Interest on monies in the special fund shall accrue first to debt retirement interest and then to principal. 2.4 ensure that prior to expenditure or disbursement of Redevelopment Loan proceeds, the Owner has provided the Director with evidence, acceptable to the Director, that the private funds have been irrevocably committed to the Redevelopment Project in the amount sufficient to complete the redevelopment project. 2.5 establish a special fund under Section 18-2147 of the Nebraska Revised Statutes for the purpose of collecting the excess ad valorem taxes generated by the Redevelopment Project. Monies collected and held in the special fund shall be used for no purpose other than to repay the Redevelopment Loan. SECTION 3. OBLIGATIONS OF THE OWNER The Owner shall: 3.1 complete the Redevelopment Project on or before December 31, 2014, creating an increase in real property taxable base by reason of such construction of at least $7,022,700.00. 3 .2 cause all real estate taxes and assessments levied on the Redevelopment ProJect to be paid prior to the time such become delinquent. 3.3 loan redevelopment funds to the City in the principal amount of $1,655,240.00 as set forth in Section 2.1, which, when combined with other private funds available, will be sufficient to construct the redevelopment project. The Owner will designate $30,000.00 of the TIF allocation for the Airport Business Park Public Improvement/Detention Center Fund, which shall be paid upon the execution and delivery of the Redevelopment Note by the City. Execution and delivery of the Redevelopment Promissory Note shall be at closing, which shall be as soon as reasonably possible after execution of this Agreement but not more than 60 days thereafter. At closing, the loan to be accomplished by this Section and the obligation of the City to use the redevelopment loan proceeds for redevelopment purposes under Section 2.2 may be accomplished by offset so that the Owner retains the loan proceeds. If the City so requests, the Owner shall, from time-to- time, furnish the City with satisfactory evidence as to the use and application of the redevelopment loan proceeds. 3.3.1 Such loan funds shall be disbursed as provided in Section 2. 3.3.2 Such loan shall bear a 2.50% interest rate. - 3 - 3.3.3 The principal shall be repaid by the City from the special fund established pursuant to Section 2.5, as excess ad valorem taxes, pursuant to the Redevelopment Plan and Section 18-2147 of the Nebraska Revised Statutes, become available to the City for such use. To the extent of such excess ad valorem taxes are unavailable to the City, the loan shall be forgiven and the obligations of the Owner shall remain unaffected. 3.4 provide the City with quarterly progress reports during the redevelopment and allow the City reasonable access upon written request to Owner to any relevant financial records pertaining to the Redevelopment Project. 3. 5 during the period that the Redevelopment Note (TIF Funds) is outstanding, ( 1) not protest a real estate improvement valuation on the Redevelopment Site of $28,108,800.00 (base) or less prior to and during construction; and $35,131,500.00 [$28,108,800.00 (base) plus $7,022,700.00 (excess valuation)] or less after substantial completion or occupancy of the manufacturing redevelopment project; (2) not convey the Redevelopment Site or structures thereon to any entity which would be exempt from the payment of real estate taxes, not apply for exemption of real estate taxes from the county or the state, or cause the nonpayment of such real estate taxes; if the county and/or state award the exemption of real estate taxes, this TIF will be rendered void and cancelled from and after the date the exemption becomes effective; (3) not apply to the Douglas County Assessor for the structures, or any portion thereof, to be taxed separately from the underlying land of the Redevelopment Site; ( 4) maintain insurance for ninety percent (90%) of the full value of the structures on the Redevelopment Site; (5) in the event of casualty, apply such insurance proceeds to their reconstruction, subject, however, to any superior rights to such insurance proceeds of any lender of Owner and ( 6) cause all real estate taxes and assessments levied on the Redevelopment Site to be paid prior to the time such become delinquent. In lieu of the above, the Owner may surrender any remaining amount outstanding of the Redevelopment Promissory Note to City. Each of the foregoing covenants shall be referenced in a Notice of Redevelopment Agreement to be recorded with the Douglas County, Nebraska Register of Deeds. The Owner agrees to include the same restrictions to be included in any subsequent sale, assignment, sale-leaseback or other transfer of the property, but shall not be responsible otherwise for the actions of the third parties if these covenants are breached by such third parties ifthe Owner no longer owns the property. 3.6 shall provide the City of Omaha Finance Department with an executed copy of the Redevelopment Promissory Note prior to disbursement of any proceeds for repayment of such Note pursuant to Section 2.5, so that such payment can be noted on the Note and the Note returned to Owner. - 4 - SECTION 4. PROVISIONS OF THE CONTRACT 4.1 Equal Employment Opportunity Clause. Annexed hereto as Exhibit "D" and made a part hereof by reference are the equal employment provisions of this contract, wherein the "Owner" is referred to as "Contractor". 4.2 Non-discrimination. The Owner shall not, in the performance of this Contract, discriminate or permit discrimination in violation of federal or state laws or local ordinances because of race, color, sex, age, political or religious opinions, affiliations or national origin. 4.3 Captions. Captions used in this Contract are for convenience and are not used in the construction of this Contract. 4.4 Applicable Law. Parties to this Contract shall conform with all existing and applicable city ordinances, resolutions, state laws, federal laws, and all existing and applicable rules and regulations. Nebraska law will govern the terms and the performance under this Contract. 4.5 Interest to the City. Pursuant to Section 8.05 of the Home Rule Charter, no elected official or any officer or employee of the City of Omaha shall have a financial interest, direct or indirect, in any City of Omaha contract. Any violation of this section with the knowledge of the person or corporation contracting with the City of Omaha shall render the contract voidable by the Mayor or Council. 4.6 Merger. This Contract shall not be merged into any other oral or written contract, lease or deed of any type. 4. 7 Modification. This Contract contains the entire agreement of the parties. No representations were made or relied upon by either party other than those that are expressly set forth herein. No agent, employee or other representative of either party is empowered to alter any of the terms herein unless done in writing and signed by an authorized officer of the respective parties. 4.8 Assignment. The Owner may not assign its rights under this contract without the express prior written consent of the City; such consent not to be unreasonably withheld. The Mayor may, without City Council approval, approve, in writing, the assignment of all rights hereunder to a successor entity owned by, or under common control with Owner. 4.9 Strict Compliance. All provisions of this Contract and each and every document that shall be attached shall be strictly complied with as written, and no substitution or change shall be made except upon written direction from authorized representatives of the parties. - 5 - 4.10 This Agreement shall be binding upon the Owner's successors and assigns, and shall run with the land described in Exhibit "B", attached hereto, to the benefit of the City of Omaha. SECTION 5. AUTHORIZED REPRESENTATIVE In further consideration of the mutual covenants herein contained, the parties hereto expressly agree that for the purposes of notice, including legal service of process, during the term of this Contract and for the period of any applicable statute of limitations thereafter, the following named individuals shall be the authorized representatives of the parties: (1) City of Omaha: R. E. Cunningham, RA, F. SAME Director, City Planning Department Omaha/Douglas Civic Center 1819 Farnam Street, Suite 1100 Omaha, NE 68183 (2) Owner: Airlite Plastics Co. 6110 Abbott Drive Omaha, Nebraska 68110-2805 Attention: Bradley J. Crosby, President Legal Service c/o City Clerk Omaha/Douglas Civic Center 1819 Farnam Street Omaha, NE 68183 Either party may designate additional representatives or substitute representatives by giving written notice thereof to the designated representative of the other party. Executed this;lf/aay of dJ~ , 2013. CITY CLERK OF THE CITY OF OMAHA ~DAS1;~/ ~ ~ .>----c:'___, :1-b."7/13 l)qi~ CITY ATTORNEY 1820 dlh - 6 - Executed this 1st day of March, 2013. STATE OF NEBRASKA ) ) § COUNTY OF DOUGLAS ) OWNER: Airlite Plastics Co., a Nebraska Corporation By:~~------i:.62"Z::::ii!~~~___(..L:~~£..,&_~+--­ Name: Bradley J. Crosby Title: President The foregoing instrument was acknowledged before me this 1st day of March, 2013 by Bradley J. Crosby, President of Airlite Plastics Co., a Nebraska Corporation, on behalf of the Corporation. Jb GENERAL NOTARY -Stale of Nebraska PENNY JOHNSON ~ -~ My Comm. Exp. July 11, 2016 ~t~ My commission expires on J ~ I >1 21; 1 (t, - 7 - 111. Site Plans Preliminary Plans for the Project Enclosed are an aerial view of the project and a blueprint view of the interior of the building. 1. L l l l " .. " 1i ,,. • "' ... ,, "' ,. ,. / -~ / -" .. .. .. .ft"" l?XH 181 T'' P /( ;:) IV. Alta Survey & Legal Description of project site. An Alta survey is in progress and is expected to be completed in the next 15 days. Attached is a copy of 2002 survey certificate of the property. SCH=MM- C~f) () ,. r • 111111111111111~· nrsc · 2003 9.9fs9 · :· AIRLITE PLACE LoTS 1AllfD2 . BEING A R.EPLATI'!NCi OFjrHAT ~AR.T OF GOVERNMENTLOt 4 IN nm NE% OF nmsw y., OF SECTION JS, T16N, Rl3E OFTIIE6111 P .M:. DOUOLAS COUN'IY, Ji.'BBRASKA, DESCRIBED AS FOU.OWS: BEOJNNIN<;iATTHB' NW CORNER OF SAID GOVERNMENT LOT.4; THENCE soo•as•s4nw (AsSUMED BBARING) 924Jo FEET ON nm WESTLINE oP sAID OOVERNMENTLOT 4 TO~ NORlli LlNE OF-qm SOUTH 400.00 FEET OF SAIDGpV6RNMENT LOT 4; THENCE S89"59' 10"E 1323.90 FEET ON THE NORTH LINE OFmESOUTil4D0.00 FEET OF SA.ID GOVERNMENT LOT 4 TO THE EAST L~ 'ilmR2oF; . rimNcs N00"M'42"W 924:77 FEET ON nm EAST LINE OF SAID GOVERNMENT LOT 4 TO.nm 'NE CORNEll THEREOF; ' ' . TiiENCE N89"59~37"W 717.13 FEET ON 1liE NORlll LINE OF SAID GOVERNMENT LOT 4; . THENCE SB9•58'41"W 505.11 FEET ON THB NOllni LINE OF SAID GOVERNMENT LOT 4 TO nm NORTHEASTERLY LINE OF KANSAS A VENUE; nmNCE SSl"49'03"E 82.S~.FEET ON ntE NORTHEASTERLY LINE OF KANSAS AV'mi'UE; THENCE Sl7"1D'S7"W ss.o~ FEET.ON THE SOUTIIEAS1CRL y LINE OF KANSAS AVENUB: nmNCENORlHWESTERLYONTHESOUIHWESTERr.YimEOFKA."fSASAVENVEONASS.OOFOOTRADIUS · CUR.VBTOm:BRIOHT, CHORD BEAR.INGNj6•44\SS"W, CHORD DISTANCE 109.74FEET, AN A1lC DISTANCE OF · 16S.22 FEET; . 1HENCENORmwESTERLYONIBESOU1HWESTERLYLINEOPKANSASAVENUEONA19.4SFOOTRADIUS CURVE TO 11IE LEFT, CHORD BEARING N16"S3'04"W, CHORD DISTANCE 28.66 FEET, AN AN:. DISTANCE OF 32.22-FEET; THENCE NOR.THWESTERL YON mESOUll{WESTERL Y LINSOFKANSASAVENUEON A 19&39 FOOT RADIUS CURVETOTHELEFT,CHORDBEARJNGN6(;0J2'51"W.,CHORDDISTANCEIS.28FEET,ANARCDISTA.i"ICEOF IS.28 FEET TO TIIE NOR.lH LINE OF.SAID GOVERNMENT LOT 4; THENCE 589°58'41 "W 17.JS FEET ON nm 'NORTH LINE OF SAID OOVERN •• ~ ... -- BEGINNINO.. . SURVEYOR'S CERTIFICATE . ·I HEREBY CER.TIFY THATl HAVESUR.VEYED nm PROPER.TY DESCRIBED HEREON A.i"ID nJAT PERMA.i"llENT MARKERS HA VE BEEN FOUND OR SBT AT ALL COR?>i'ERS OF nm LOT BEINO PLATI'ED. JUNE 28. 2002 DATE: JAMES D. WARNER: NEBRASKA R.L.S. 308 •I · 1./ (-~ °"'~ET 1 OF 3 . J " "'c<-'"~ . ...r.:.. o-;r- 4 'TO THE POINT OF ........ • ~ 'L..~~ BAIRDBOLM ·o~" · TIJSJOBN0.200-300-140' DATE: .rtl1"l"El8,1002 THOMPSON, DREESSEN Ii. DORNER., INC. • 1DB36 OLD MILL ROAD• OMAHA. NEBRASKA 68154 • (402} 330-5860 \~~~~ \~ OWN,IR1S CER.TD'ICA110N I<NOWAll.PBRSONSBYTHBSEPREsBNTs:THATWB,AIRiiraPLASTICSCO.,ANBBRASKACORPORATION, THE UNDERSIGNBDOWNEl.OP TIIBPROP~TYDESCRIBBD·HBREQN AND BMBRACBD WIIHINIBIS PLA'r HA VE CAUSED SAID LAND TO BE SUBDIVIDED INTO A LOT~ Sl{OWN ON:mlS PLAT. . ' AIRLlTB PLASTICS CO., A NEBRASKA CORPORATION :~± GBIEMLIOTARY·SIDd._ KEVIN Mcl..AUGHUN t.t1Calm!. !'JJ.IJ1:L2. lllOS COUNTYTREASURER'S CERTIFICATE THIS lS TO CER.'m'Y 1HAT 1 FIND NO iu:DULAR.OR.iPECIAL TAXES, DUB OR. DELINQUENT, AGAINST THE PROPER.TY D'ESCRIBBDINmE LB~·~~~O'!'l AND AS SHOWN BY mE RECORDS OF THIS OFFICE. . J /r.:·I· ... ,,..-., ~. ~· ~ . . '-• ., ~ . !:ii -\o-·o~ .f* [ ~ ·.~J.·~ ... L .. !•j-' -1~ ~ ~ :::=? I i_,_. ·-•.., ~"""' . DATE: 'l'l. '. ! IJ COUNTY ~u......, ,, .;...... ,/..t'4 • ........... " ...... ·,.~~ ·: "'?t.rrn;.!.Y PLANMNG DIRECTOR'S APPROVAL APPR.OVED AS. A SUBDIVISION OF NOT MORE THAN TWO (2) LOTS, PARCELS OR TRACTS, WIIll PLAT RBQUIItBMEN'l"S WAIVED PER. SECTION 7;08 HOME RULE CHARTER. OF nm CITY OF OMAHA, 19S6. nns SUBDIVISION MPR.OVAL IS VOlD·UNLESS nus PLAT IS fILFD AND RECORDED WITH nm CQlJNTY :;;;--tmnY~O)DAYSDF~~-D~-'"'"-'~--M.....,;.~-<,.._--- Djfl, ~ LI ·; i.( ( SBEET2 OF3 BAIRD HOLM TD' JOB NO. 200-300-140 DATE: JlJNElB, 20112 THOMPSON, DREESSEN & DORNER., INC.• 10816 OlD MILL ROAD• OMAHA, NEBRASKA 68154 • (407.) 330-8860 EXHIBIT THIS BOND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE " '33 ACT') AND MAY NOT BE TRANSFERRED, ASSIGNED, SOLD OR HYPOTHECATED UNLESS A REGISTRATION STATEMENT UNDER THE '33 ACT SHALL BE IN EFFECT WITH RESPECT THERETO AND THERE SHALL HA VE BEEN COMPLIANCE WITH THE '33 ACT AND ALL APPLICABLE RULES AND REGULATIONS THEREUNDER, OR THERE SHALL HAVE BEEN DELIVERED TO THE CITY OF OMAHA PRIOR TO TRANSFER, ASSIGNMENT, SALE OR HYPOTHECATION AN OPINION OF COlJNSEL, SATISFACTORY TO THE CITY OF OMAHA TO THE EFFECT THAT REGISTRATION UNDER THE '33 ACT IS NOT REQUIRED. REDEVELOPMENT PROMISSORY NOTE $1,655,240.00 FOR VALUE RECEIVED, the undersigned, City of Omaha (hereinafter known as "Borrower"), promises to pay Airlite Plastics Company, 6110 Abbott Drive, Omaha, Nebraska, 68110-2805 Attention Bradley Crosby, President ("Holder"), and/or its assigns, the principal sum of One Million Six Hundred Fifty-five Thousand Two Hundred Forty and Noll 00 Dollars ($1,655,240.00), together with interest thereon at the rate of 2.50% per ammm from the date of the execution of this Note until paid in full. The principal balance and interest thereon shall be due and payable to the Holder of this Redevelopment Promissory Note as and at such time as any excess ad valorem taxes generated by the Redevelopment Proje,ct as set forth in that certain Redevelopment Agreement dated the "'24/t. day of _L';P7.tf}/Jc,rrf:.. , 2013, by and between the Borrower and the Holder (the "Redevelopment Agreement") are collected by the Borrower and available for the retirement of this debt In the event of default under this Redevelopment Promissory Note, all sums secured by this Redevelopment Promissory Note or any other agreement securing this Redevelopment Promissory Note shall bear interest at a rate equal to five percent (5%) above the regional prime or base rate as published by the Wallstreet Journal, Omaha, Nebraska, from time-to-time; however, in the event said interest rate exceeds the maximum rate allowable by law, then such rate of interest shall equal the highest legal rate available. The Borrower may prepay the principal amount outstanding in whole or in part, without the prior consent of the Holder. In the event the monies collected and held in that special fund established under Section 18-2147 of the Nebraska Revised Statutes and pursuant to the Redevelopment Agreement are insufficient to pay in full all amounts due and owing at a date fifteen (15) years from the division date year, and all excess ad valorem taxes generated by the Redevelopment Project, as set forth in the Redevelopment Agreement, have been collected by the Borrower and have been paid, immediately upon being available, towards the retirement of the amounts due hereunder, then, at said date fifteen (15) years from the division date year, the Holder shall waiver any unpaid portion of the principal and interest due upon written request of the Borrower. In the event this Redevelopment Promissory Note is referred to an attorney for collection the Holder shall be entitled to reasonable attorney fees allowable by law and all court costs and other expenses incurred in connection with such collection. The Borrower shall be in default in the event the Borrower shall fail to pay, when due, any amount required hereunder. Unless prohibited by law, the Holder may, at its option, declare the entire unpaid balance of principal and interest immediately due and payable without notice or demand at any time after default. The Holder may at any time before or after default, exercise its right to set off all or any portion of the indebtedness evidenced hereby against any liability or indebtedness of the Holder to the Borrower without prior notice to the Borrower. Demand, presentment, protest and notice of nonpayment under this Redevelopment Promissory Note are hereby waived. No delay or omission on the part of the Holder in exercising any remedy, right or option under this Redevelopment Promissory Note shall operate as a waiver of such remedy, right or option. In any event, a waiver on any one occasion shall not be construed as a waiver or bar to any such remedy, right or option on a future occasion. Any notice provided for in this Redevelopment Promissory Note to the Borrower or the Holder shall be in writing and shall be given by regular mail to the Holder or Borrower, or at such other address as either party may designate by notice in writing. This Redevelopment Promissory Note shall be governed by and construed in accordance with the Laws of the State of Nebraska. All payments hereunder shall be payable in lawful money of the United States of America and shall be legal tender for public and private debts at the time of payment. City Clerk of the City of Omaha 1820 dlh CITY OF OMAHA, A Municipal Corporation APPROVED AS TO FORM: •-*~ ----·---···*-··~- /\ : City Attorney -~A f'"""'--r -~ ·~ I -2 - EXHIBIT "D" EQUAL EMPLOYMENT OPPORTUNITY CLAUSE During the performance of this Agreement, "Provider" agrees as follows: (1) Provider shall not discriminate against any employee or applicant for employment because of race, religion, color, sex, age, sexual orientation, gender identity, disability or national origin. Provider shall ensure that applicants are employed and that employees are treated during employment without regard to their race, religion, color, sex, sexual orientation, gender identity, or national origin. As used herein, the word "treated" shall mean and include, without limitation, the following: recruited, whether by advertising or by other means; compensated; selected for training, including apprenticeship; promoted; upgraded; demoted; downgraded; transferred; laid off; and terminated. Provider agrees to and shall post in conspicuous places, available to employees and applicants for employment, notices to be provided by the contracting officers setting forth the provisions of this nondiscrimination clause. (2) Provider shall, in all solicitations or advertisements for employees placed by or on behalf of Provider, state that all qualified applicants will receive consideration for employment without regard to race, religion, color, sex, sexual orientation, gender identity~ or national origin, age, disability. (3) Provider shall send to each labor union or representative of workers with which it has a collective bargaining agreement or other contract or understanding a notice advising the labor union or worker's representative of Provider's commitments under the Equal Employment Opportunity Clause of the City and shall post copies of the notice in conspicuous places available to employees and applicants for employment. ( 4) Provider shall furnish to the City Contract Compliance Officer all Federal forms containing the information and reports required by the Federal government for Federal contracts under Federal rules and regulations, and including the information required by Sections 10-192 to 10-194, inclusive, and shall permit reasonable access to his records. Records accessible to the City Contract Compliance Officer shall be those which are related to Paragraphs (1) through (7) of this Exhibit and only after reasonable advance written notice is given to Provider. The purpose for this provision is to provide for investigation to ascertain compliance with the program provided for herein. (5) Provider shall take such actions as the City may reasonably direct as a means of enforcing the provisions of Paragraphs (1) through (7) herein, including penalties and sanctions for noncompliance; however, in the event Provider becomes involved in or is threatened with litigation as the result of such directions by the City, the City will enter into such litigation as necessary to protect the interests of the City and to effectuate the provisions of this division; and in the case of contracts receiving Federal assistance, Provider or the City may request the United States to enter into such litigation to protect the interests of the United States. (6) Provider shall file, if any, compliance reports with Provider in the same form and to the same extent as required by the Federal government for Federal contracts under Federal rules and regulations. Such compliance reports shall be filed with the City Contract Compliance Officer. Compliance reports filed at such times as directed shall contain information as to the employment practices, policies, programs and statistics of Provider. (7) The Provider shall include the provisions of Paragraphs (1) through (7) of this Section, "Equal Employment Opportunity Clause", and Section 10-193 in every subcontract or purchase order so that such provisions will be binding upon each sub-Provider or vendor. PUBLICATIONS PUBLICATION OF HEARING Date 3 J \:> ) Z. U l ~ , PUBLICATION OF ORDINANCE Date 4/o3/ZGJ3 (_)!/S , ORDINANCE NO. , ~U AN ORDINANCE approving a redevelopment and tax increment financing loan agreement between the City of Omaha and Airlite Plastics Co., a Nebraska Corporation to implement the Airlite IML Building #3 Tax Increment Financing (TlF) Redevelopment Project Plan located at 6110 Abbott Drive which proposes constructing a new 43,000 square foot building addition to its existing manufacturing facility within the Airport Business Park/Riverfront Industrial Park area, inclusive of an extension of the existing rail spur; the agreement authorizes the use of up to $1,655,240.00 in excess ad valorem taxes (TIF) generated by the development to help fund the cost of the project; and providing for an effective date. 1820 dlh ) / /;~;ff.~, PRESENTED TO COUNCIL 1.sie£ MAR 1 2 2013 j}a&1j 1-0' -. -~ Hear.ing~-MARI 9 ZUTJ-ddeLzfi; ~3 Final Reading MAR 2 6 2013 Passea //-/) BUSTER BROWN City Clerk