2015-096s:\legal\our docurnents\ordinances\i 5\business air - b�m � chapter 380 ord.doc
ORDINANCE NO. 2015-096
AN ORDINANCE ESTABLISHING AN ECONOMIC DEVELOPMENT PROGRAM UNDER
CHAPTER 380 OF THE LOCAL GOVERNMENT CODE FOR MAKING GRANTS OF
PUBLIC MONEY TO PROMOTE ECONOMIC DEVELOPMENT AND TO STIMULATE
BUSINESS ACTIVITY IN THE CITY OF DENTON; APPROVING AN ECONOMIC
DEVELOPMENT PROGRAM GRANT AGREEMENT WITH BAM DENTON
MANAGEMENT VENTURES, LLC, SETTING FORTH THE VARIOUS CONDITIONS
PRECEDENT TO BAM BUSINESS MANAGEMENT VENTURES, LLC RECEIVING THE
PROGRAM GRANT; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, BAM Denton Management Ventures, LLC ("Grantee") has made a request
of the City of Denton to establish an economic development program under Chapter 380 of the
Texas Local Government ("Chapter 380") to stimulate the development of commercial property
within the City of Denton; and
WHEREAS, the City Council by this ordinance is establishing an economic development
program under Chapter 380 which will stimulate business activity in the City and promote the
public interest (the "Program");
WHEREAS, to effectuate the Program, the City and Grantee have negotiated an
Economic Development Grant Agreement (the "Agreement"), a copy of which is attached hereto
and made a part hereof by reference; and
WHEREAS, the City Council finds that the Program and Agreement promote economic
development and will stimulate commercial activity within the City of Denton for the benefit of
the public; NOW, THEREFORE;
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The recitals and findings contained in the preamble of this ordinance are
incorporated into the body of this ordinance.
SECTION 2, The City Manager, or his designee, is hereby authorized to execute the
Agreement on behalf of the City of Denton, a copy of which is attached hereto and incorporated
by reference herein, and to carry out the City's responsibilities and rights under the Agreement,
including without limitation the authorization to make the expenditures set forth in the
Agreement.
SECTION 3. This ordinance shall become effective immediately upon its passage and
approval.
s:\legal\our documents\ordinances\15\business air - bam - chapter 380 ord.doc
PASSED AND APPROVED this the ���� day of _ ww ,, �� �_ _�,°���15.
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ATTEST:
JENNIFER WALTERS, CITY SECRETARY
BY: � _ ���' ,�� �� � �
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��J1`l'A BURGESS, CITY ATTORNEY
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Page 2
ECONOMIC DEVELOPMENT PROGRAM GRANT AGREEMENT WITH
BAM DENTON MANAGEMENT VENTURES, LLC
This Economic Development Program Grant Agreement ("Agreement") is made
and entered into as of the effective date provided for below, by BAM DENTON
MANAGEMENT VENTURES, LLC, a TEXAS limited liability company, and the CITY
OF DENTON (the "City"), a Texas municipal corporation, for the purposes and
considerations stated below:
WHEREAS, this Agreement is authorized by and made pursuant to the economic
development program provisions of Chapter 380 of the Texas Local Government Code
(the "Act") to promote local economic development and to stimulate business and
commercial activity in the City of Denton; and
WHEREAS, Grantee is contemplating the development of that certain real
property located within the city limits of the City as more particularly described in
Exhibit "A" attached hereto and made a part hereof by reference (the "Properties"); and
WHEREAS, on the 6th day of November, 2014, Grantee submitted an application
for economic development incentives with various attachments to the City concerning the
contemplated use and development of the Properties, which is on iile in the City's Ofiice
of Economic Development, a copy of which is attached hereto and made a part hereof by
reference as Exhibit "B" (the "Application for Economic Development Incentives"); and
WHEREAS, the City Council finds that the contemplated use and development of
the Properties, the proposed improvements provided for herein and the other terms and
conditions of this Agreement will promote economic development and will stimulate
development activity within the City of Denton for the benefit of the public;
NOW, THEREFORE, the City and Grantee for and in consideration of the
Properties and the promises contained herein do hereby contract, covenant and agree as
follows:
I.
CONDITIONS OF THE GRANT
A. In consideration of a Grant Agreement and subject to the Grantee meeting
all the terms and conditions of the Grant as set forth herein, the City hereby grants the
following:
1. A Grant equal to 70% of City ad valorem taxes attributable to
Improvements (as the term "Improvements" is defined below) resulting in an
increase of assessed value of real property improvements to and tangible personal
property (excluding land, inventory, and supplies), located on the Properties (as
the term "Properties" is defined below) as determined by the Denton Central
Appraisal District, excluding real property improvements to and tangible personal
1
property (excluding land, inventory and supplies) located on the Properties on
December 31, 2014, which is for a period of two years commencing on January
1, 2017, and if such an increase in assessed value of Improvements on Grantee
Properties is at least 5,000,000 by December 31, 2016. A maximum of $9,500,000
in increased valuation on Improvements shall be eligible for the Grant. Should
the increase in Improvements valuation be less than $5,000,000 there will be no
Grant.
2. The two year period of the Grant may be extended by attracting newly-
based Eligible Based Aircraft (as the term "Eligible Based Aircraft" is defined
below) on Grantee Properties and resulting in an increase to assessed value
attributable to Eligible Based Aircraft located on the Grantee Properties as
determined by the Denton Central Appraisal District, excluding Eligible Based
Aircraft located on the Grantee Properties on December 31, 2014 and determined
by meeting the following increased valuation thresholds:
a) If increased valuation on Eligible Based Aircraft is at least
$15,000,000 but less than $50,000,000 by December 31, 2017, the Grant
shall be extended to a total period of four years and shall include 5% of
the increased valuation on Eligible Based Aircraft on December 31, 2017
and for each of the subsequent Grant years period. Should the increase in
the valuation of Eligible Based Aircraft be less than $15,000,000 by
December 31, 2014, there will be no extension of the Grant period and no
inclusion of 5% of the increased valuation on Eligible Based Aircraft in
the Grant amount.
b) If increased valuation on Eligible Based Aircraft is at least
$50,000,000 but less than $80,000,000 by December 31, 2020, the Grant
shall be extended to a total period of seven years and shall include 5% of
the increased valuation on Eligible Based Aircraft on December 31, 2020
and for each of the subsequent Grant years period.
c) If increased valuation on Eligible Based Aircraft is at least
$80,000,000 by December 31, 2022 the Eligible Aircraft Grant shall be
extended to a total period of nine years and shall include 5% of the
increased valuation on Eligible Based Aircraft on December 31, 2020 and
for each of the subsequent Grant years period.
Should the increase in the valuation of Eligible Based Aircraft be less than
$15,000,000 by December 31, 2014, there will be no extension of the Grant
period and no inclusion of 5% of the increased valuation on Eligible Based
Aircraft in the Grant amount.
B. A condition of the Grant is that, by December 31, 2016 (subject to force
majeure delays not to exceed 180 days), Grantee shall have made a minimum of
$5,000,000 of Improvements at the Properties, which result in an increase in the assessed
values, as determined by the Denton Central Appraisal District, as contemplated by
2
Section I.A.1. For the purposes of this paragraph, the term "force majeure" shall mean
any circumstance or any condition beyond the control of Grantee, as set forth in Section
XIV "Force Majeure" which makes it impossible to meet the above-mentioned time
restraints.
C. A condition of the Grant is that, by December 31, 2016 (subject to force
majeure delays not to exceed 180 days), Grantee shall have located a minimum of
$15,000,000 of Eligible Based Aircraft on Grantee's Properties, which result in an
increase in the assessed values, as determined by the Denton Central Appraisal District,
as contemplated by Section I.A.2. For the purposes of this paragraph, the term "force
majeure" shall mean any circumstance or any condition beyond the control of Grantee, as
set forth in Section XIV "Force Majeure" which makes it impossible to meet the above-
mentioned time restraints.
D. The term "Properties" is defined as Grantee existing facility located at
5007 Airport Road and proposed new facility to be constructed at 4777 Airport Road.
E. The term "Improvements" is defined as the construction, renovation and
equipping of the Properties including but not limited to (1) costs related to the
development and improvement of the real estate, including, without limitation,
construction costs and design and engineering costs; (2) tangible personal property
located on or at the Properties owned or controlled by Grantee, excluding land, inventory
and supplies. The kind and location of the Improvements is more particularly described
in the Application for Grant.
F. The term "Eligible Based Aircraft" is defined as newly-based business
aircraft located at Grantees Properties at Denton Enterprise Airport upon which ad
valorem tax is collected, and not included in the Improvement and Properties Grant
assessment and incentive set forth in A.1.
G. A condition of the Grant is that the Improvements are constructed and the
Properties be used substantially in accordance with the description of the project set forth
in the Application for the Grant.
H. A condition of the Grant is that throughout the term of the Grant, the
Improvements shall be operated and maintained for the purposes set forth herein so that
the use of the Property shall be consistent with the general purpose of encouraging
development or redevelopment of the City except as otherwise authorized or modified by
this Agreement.
I. The City shall have the right to terminate the Grant if the Grantee does not
occupy the Contemplated Improvements continuously for the term of the Grant for the
purposes set forth in the Grant Application. In the event of such termination the Grantee
shall refund to the City fifty percent of all previous Grant payments, and all Grant
payments for future years shall be terminated.
3
J. Grantee agrees to comply with all the terms and conditions set forth in this
Agreement.
II.
GENERAL PROVISION
A. In the event of any conflict between the City zoning ordinances, or other
City ordinances or regulations, and this Agreement, such ordinances or regulations shall
control, provided however the City shall not diminish the benefits to the Grantee under
this Agreement through ordinances or regulations (whether now or hereafter in effect).
III.
TERMS AND CONDITIONS OF GR.ANT
A. Subj ect to the terms and conditions of this Agreement, the City hereby
agrees to pay to Grantee, on an annual basis, after the first assessment following receipt
by Grantee of the certificate of occupancy for the Properties
1. An amount equal to 70% of the difference between: (a) the then current
City ad valorem taxes for the Properties and the Improvements, minus, (b) City ad
valorem taxes payable for the Properties and the Improvements as of December
31, 2016, and minus any valuation on business personal property currently located
at 5007 Airport Road and 4777 Airport Road as of December 31, 2014, (with the
resulting payments known as the "Annual Payments"), such Annual Payments to
be subject to the terms and conditions provided in this Agreement.
2. An amount equal to 5% of the difference between: (a) the then current
City ad valorem taxes for Eligible Based Aircraft, minus, (b) City ad valorem
taxes payable for Eligible Based Aircraft as of January 1, 2015, located at 5007
Airport Road or 4777 Airport Road as of January 1, 2015, (with the resulting
payments known as the "Annual Payments"), such Annual Payments to be subj ect
to the terms and conditions provided in this Agreement.
B. Grantee shall have the right to protest and contest any or all appraisals or
assessments by the Denton County Appraisal District for the Property, the Improvements
or any other tangible personal property owned or controlled by Grantee and located on
the Property. All calculations in this Agreement shall be based upon final assessed
values after any such protest or contest.
C. Annual Grant Payments Terms shall be the following:
1. The Annual Payments for Grant as stated in I.A.1. and I.A.2. shall be for a
term of not less than two years and may be increased to a maximum of nine years
reflecting Grantee meeting stipulated thresholds of increased valuation solely
attributable to Eligible Based Aircraft by specific dates: an increased valuation
minimum of $15,000,000 shall be for a term not to exceed four (4) years; an
�
increased valuation minimum of $50,000,000 shall be for a term not to exceed
seven (7) years; an increased valuation minimum of $80,000,000 shall be not for a
term to exceed nine (9) years with the first payment being due and payable on or
before 60 days after the City is in receipt of all City ad valorem taxes due and
payable for the Property and Improvements as of January 1 St of the year following
the calendar year in which a certificate of occupancy is issued by the City for the
Properties (the "Beginning Date"), and, unless sooner terminated as herein
provided, shall end after the ninth Annual Payment. All subsequent Annual
Payments shall be due and payable on or before 60 days after the City is in receipt
of all ad valorem taxes due and payable for the Property and Improvements as of
January 1 for the respective subsequent year.
2. The Annual Payments for Grant on Eligible Based Aircraft as stated in
I.A.2. shall be for a term reflecting the increased valuation amount. An increased
valuation minimum of $15,000,000 shall be for a term not to exceed four (4)
years; an increased valuation minimum of $50,000,000 shall be for a term not to
exceed seven (7) years; an increased valuation minimum of $80,000,000 shall be
not for a term to exceed nine (9) years with the first payment being due and
payable on or before 60 days after the City is in receipt of all City ad valorem
taxes due and payable for the Property and Improvements as of January lst of the
year following the calendar year in which a certificate of occupancy is issued by
the City for the Properties (the "Beginning Date"), and, unless sooner terminated
as herein provided, shall end after the respective achieved increased valuation
term's fourth, seventh, or ninth Annual Payment. All subsequent Annual
Payments shall be due and payable on or before 60 days after the City is in receipt
of all ad valorem taxes due and payable for the Property and Improvements as of
January 1 for the respective subsequent years.
IV.
RECORDS, AUDITS, AND EVALUATION OF PROJECT
A. Grantee shall provide access and authorize inspection of the Property by
authorized City employees and allow sufficient inspection of financial information to
insure that the Improvements are made according to the specifications and conditions of
this Agreement. Such inspections shall be done in a way that will not interfere with
Grantee's business operations. The City shall, on an annual basis, evaluate the Project to
ensure compliance with this Agreement. Grantee shall provide information to the City on
a form provided by the City for the evaluation. The information shall include, without
limitation, an inventory listing the kind, number, and location of and the total investment
value of all Improvements to the Properties, including the value of all aircraft, buildings
and other structures and permanent improvements installed, renovated, repaired or
located on the Properties. An annual rendering of all business personal property shall be
included.
E
V.
FAILURE TO MEET CONDITIONS
In the event (i) Grantee or the Owner of the Property allow their ad valorem real
property taxes owed to the City with respect to the Property or Building, or ad valorem
taxes owed to the City with respect to any tangible personal property owned or controlled
by the Grantee and which are located on the Property to become delinquent and fails to
timely and properly follow the legal procedures for protest and/or contest of any such ad
valorem real property or tangible personal property taxes; or, (ii) any other material
conditions of this Agreement are not substantially met, including the Grant Conditions,
then a"Condition Failure" shall be deemed to have occurred. It is understood that a
Condition Failure shall not be deemed to occur merely because at a particular time it
cannot be determined whether such condition will be met, but shall occur only if at a
particular time it can be determined that such condition will not be met after notice and
reasonable opportunity by Grantee to cure such failure. In the event that a Condition
Failure occurs, the City shall give Grantee written notice of such Condition Failure and if
the Condition Failure has not been cured or satisfied within ninety (90) days of said
written notice, this Agreement may be terminated by the City; provided, however, that if
such Condition Failure is not reasonably susceptible of cure or satisfaction within such
ninety (90) day period and Grantee has commenced and is pursuing the cure or
satisfaction of same, then after first advising the City of efforts to cure or satisfy same,
Grantee may utilize such additional time as may be reasonably required to cure such
Condition Failure, but not less than ninety (90) days nor more than one hundred eighty
(180) days. Time in addition to the foregoing may be authorized by the City Council. If
a Condition Failure is not cured or satisfied after the expiration of the applicable notice
and cure or satisfaction periods ("Condition Failure Default"), as City's sole and
exclusive remedy, the Annual Payment shall be terminated with respect to the year in
which notice of the Condition Failure is given and for all future years, and Grantee, Inc.
shall repay to the City an amount equal to fifty percent of all previous Grant payments
made to Grantee; and thereafter no repayment is required.
VI.
ASSIGNMENT
This Agreement and Grantee's rights and obligations hereunder may not be
assigned without prior notice to the City, unless such notice is prohibited by contract or
applicable law in which case notice shall be provided as soon as allowable. In the event
that Grantee ceases to manufacture on the Property, this Agreement shall terminate and
all obligations of the City, as set forth herein, shall terminate and be of no further force
and effect.
.:�
VII.
NOTICE
All notices called for or required by this Agreement shall be addressed to the
following, or such other party or address as either party designated in writing, by certified
mail postage prepaid or by hand delivery:
COMPANY:
BAM Denton Management Ventures, LLC
R. Damon Ward, CEO
5007 Airport Road
Denton, Texas 76207
CITY:
City Manager
City of Denton
215 E. McKinney
Denton, Texas 76201
VIII.
CITY COUNCIL AUTHORIZATION
�"l�ri� �h�r�����s���l i� ���atl�c��°���.,c� %y 1:1°r� �'it� ("cwr�r�c:a�U �zt il:�; �����tii�� ��� ����:, ��_..
c��� c��m ._ ����� , �'� ] �, ����t����a�irir���, tl�� (:,"ii� P'��r�a���� t�r �����,al� �;l�i,� �.�¢•��.t�a�rri �r�
�.��.���tl:l"c.��°���t� �`�1�.
IX.
BOARD OF DIRECTORS AUTHORIZATION
BAM Denton Management Ventures, LLC represents that this Agreement is
entered into by BAM Denton Management Ventures, LLC pursuant to authority granted
by its Board of Directors to its CEO. A certificate of an authorized officer of Denton
Aviation Holdings, LLC, parent company of BAM Denton Management Ventures, LLC,
supporting this representation is attached hereto and made a part hereof as Exhibit C.
X.
SEVERABIILTY
In the event any section, subsection, paragraph, sentence, or phrase is held
invalid, illegal or unconstitutional, the balance of this Agreement shall stand, shall be
enforceable and shall be read as if the parties intended at all times to delete said invalid,
illegal or unconstitutional provision.
7
XI.
ESTOPPEL CERTIFICATE
Any party hereto may request an estoppel certificate from another party hereto so
long as the certificate is requested in connection with a bona fide business purpose. The
certificate, which if requested will be addressed to BAM Denton Management Ventures,
LLC, shall include, but not necessarily be limited to, statements that this Agreement is in
full force and effect without default (or if default exists the nature of default and curative
action, which should be undertaken to cure same), the remaining Term of this Agreement,
the levels and remaining Term of the Annual Payments in effect, and such other matters
reasonably requested by the party(ies) to receive the certificates.
XII.
BAM DENTON MANAGEMENT VENTURES, LLC, STANDING
Grantee, as a party to this Agreement, shall be deemed a proper and necessary
party in any litigation questioning or challenging the validity of this Agreement or any of
the underlying ordinances, resolutions, or City Council actions authorizing same and
Grantee. shall be entitled to intervene in said litigation.
XIII.
APPLICABLE LAW
This Agreement shall be construed under the laws of the State of Texas. Venue
for any action under this Agreement shall be the appropriate court serving Denton
County, Texas. This Agreement is fully performable in Denton County, Texas.
XIV.
FORCE MAJEURE
If, because of flood, fire, explosions, civil disturbances, strikes, war, acts of God,
or other causes beyond the control of either Party, either Party is not able to perform any
or all of its obligations under this Agreement, then the respective Party's obligations
hereunder shall be suspended during such period but for no longer than such period of
time when the party is unable to perform.
XV.
AMENDMENT
This Agreement is the entire agreement of the parties and may only be modified
by a written instrument executed by both parties.
XVI.
EFFECTIVE DATE
This Agreement is effective as of the �,��,��ay of �° ����� _, 2015.
CITY OF DENTON,�.�� ��.�
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BY �� ..���� � �� � ,,� �
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ATTEST:
JENNIFER WALTERS, CITY SECRETARY
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BY:__ _ �� �' � �.��
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APPROVED AS TO FORM:
ANITA BURGESS, CITY ATTORNEY
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STATE OF TEXAS
COUNTY OF DENTON
CITY MANAGER
BAM DENTON MANANAGEMENT
VENTURES,LLC
a Texas limited liability company
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BY:
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amon ' � ard, CEO
ACKNOWLEDGMENTS
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��`����� ������� � Econo�mic evelopment Program Agreement was executed before
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me on ��� "� ���� ���' .,.. ��� �� �"� ....��������������....,���.��,��..eeeeeeeeeee._�� 2015 by George C. Campbell, City Manager
of the City of Denton, Texas, a Texas municipal corporation, on behalf of said municipal
corporation.
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STATE OF TEXAS
COUNTY OF DENTON
The foregoing �:���a�cr:i��i� Development Program Agreement was executed before
me on the � day of �� � 2015 by R. Damon Ward, CEO of BAM
DENTON MANAG��,���; '1" VENTURES, LLC, a Texas limited liability company, on
behalf of said LLC.
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� 1,947 ACRES OUT OF TFiE W. NF.IL SURVFY, �ys�����
2014 Tax Ahatcm�nt Policy
EXHIBIT B
Ci of Denton
Incentive A lication
pp
City of Denton
Department of Ecoiiomic Developnient
Denton, Texas 76201
(940) 349-7776
(940) 349-8596 FAX
www. cityofdenton. com
Airnee, Bissett(a�citvofdenton. com
Page 11 of' 18
2014 Tax Abateinent Policy
�
INCENTIVE APPLICATION
CITY OF DENTON, TEXA.S
..��°���a����;���.���w�xs�a��l��[�.1��a��ns_1�r4���a:����aa��t.."��r���p.c�:�e��'�C.im".�.�.���._ ..� .....�. ..� . �...�._.� �.....,�...._.
�.�, , k ° z �tl . � X . k� " "*
. .�����p��r�b�.rt��.�����,�.��F��a.A�:��..f��t°��a���as;d�.t������.���a��ro�..�1:1����^��..������.�J�����.d��.�,��.� �m.�.�._.�.�. ����.�.�.�,��.._.
.�i���i.�.i�:���„..����G�����:._����a�?.i�a��s�a°�.����������.��M�1"�.._��°���S�.L.�.�_�.�.�_Y�� .�.�_ _.....�� .. ..._., ���_.� .�
�Website;, v�rww _b�asi�n,ess�-„a�r �,�r��... .W _. _ .� �..._ _�..�__�.�...mm. �� ,_.�_.�_..._ �._m�... ..... � � .......m. .....
na�n Ward _u...� ��.r.� _���_�....._.,,___...��_ .:._.m__��.�_.......� .....m ._.�_.� ......_�_._
. Contact I'���a�a, l�a ,
Title; CEO
,..m.�� _ .., ..... � � ..�._—�......_ ..._.__—... ..�,_' ......m.__���.m
Mailin� Address: 500? Aii�ort Rdr Denton TX 7 2 �
��"� I� Bb���.�.m � .ee�. __ � �� w�. �_ � �. �.�_ — ... �.� .�.
�r�a��e:940-898 1200 w mm ,��w„wm_� mMF FaxNo 940-382-5602
_.a���._...� — _.... �._. ...— � �
Email Address: dward(cr�,business-air.com
2, Provide a chronolo�y of plant openin�s, closin� and relocations over tlie �ast 15 years.
.�...1�;C�i�:��i��ati_�rl�����.a.ax�.�,ai i�c:s��e��,.�%..f.����p��aa����l.�c�9�e-,� �i.,�"?�1��.�ci..la�„�.�.�.���ix.�.��.to��a�ci�a,�_..
since tliat time.
Provide a record of inergers and financia] restructuring during the past 15 years,
—�t�Qr.�a1's� '����U�.1.4-d�l-�p�I��t�ka�a-�i4��a:°.ca��:�t:-�.�tu�c.s�-L,��la�ui-�-.�s��j�ad-�tra�lcltic}ld�:a'-c��«sa��iA�is�la---
,mm Plateau, V+.aat�artws,..LLC...,of Bend �OR becomin�the 95%...shar�halder. _......w_ �._. .._ ..� ,........ �.....
4, Will the occupants of the project be owner or lessee? If lessee, are occupancy commitments already existing?
Occupants will be corporate aircraft under hangar lease.
�����Is������the pro"�ect a re�ocation ot exis �' g����i�ity or a� new 1�r�����
� y��"� tin fac' iCit°y fo�expand operaiions"P it relc>� ��lic���, give
current location. This is a new facility.
`Il�;in e�ist�n}; �enCOri C�usi�acs.s,..�vi C��kt���.�V resu i��m�i�iei�cliiniiietilol e�istui�; �"nril�tyy It 's"'o, t��c w�'e�E�i�. c�6"'"��ia _
existing facility will be subtracted from the value of lhe new facility to arrive at total project value.
Page 12 of 18
20141'ax Abatement Policy
This will be totally new construction and there will be no abandonment.
7. Property Description.
�����Attach a copy offh�e�Ye al descri tion �i�;�t�rEin � ro ����' s a ��� ��� �� ������� � �� ������ ���������
�._. . .._� _. �...�.� � .e s metc....
. g p g p p rty nd bounds,
mm�mm�Attachumap ofproject'includingal] roadways, land use and zoning within 50Q�feet ofsite,u��mmmmm���W �ITmIT�mmm�mm�
8. Current Value. � Attach copy of latest pro e�tax state ���
w� �W p rty ment from the Denton County CentraC Appraisa
District Include both real (land and improvements) and personal property),
9, �t�c�r�r���e� Value/Estimated Total Cost �'� ���°+��ect,
._ .............� .............�_�_ _.....�_.�_
Structures $ $1.5 Million Q Site Development $
Personal Property � $ $1.5 Million � Other Improvements �
10. ��l�i�i�:��� ercent �d lax �,x��a��a����ri and ���tr��il���4 ��' ears a't���a�e�,���.�.��m_�..�� �.. . .m� .. .... �...... � _ ...._._�,_
p y � i.
.�.��.m � .n�..— �_� .._�_—,
Perceut
Years Requested
Requested��� ��. ,.� �..��� �...�..._,.�„�,����.�...m.�, � � � �� ..�.�.e.._ �.m_.— . ,. .____ _�.
List any other financial incentives this project will request/receive
�'�.�4zr��<���:s9 Freeport 1;��;��^����icmz�
..�.�m, �.�.__�___ --._
�������� I�1���G�w°i� Utiliry �t��e����x��i�wl �;�cw��;Y���g������z��t: �.ie��� �
Estimated Wt�t���1''�"astewater Infrastructure �:�:;a�Ca�a�� I "�
�...._� _
�'lr���t�zM 380 I�bc�r�tav��
] 1. �Give a brief descripCion of the actiWvities to be performed at thisITl�ocalior�, in�luding a descri��ti�n c�1"products to �� �
be produced and/or services to be provided.
.�.�i�l��am���n����c stc�d-���c f<�c�ii�.C�y ���16 8;�� c�:�a�1 t�a ��9�rw�a� �a�c� ti��;�p���� f��� c,�rr����p�c� t��t�a��d�_��� Cr� ta����ti.��t�c� �rpa�m��tc ..
V"aci��°a a��ti .la� ati�t�wa ��ttk�e �� �'��I,�����at� t���.d���v,�;�ca���aNb�..��a�sg�a�ss �z���N �krw� l�,ti�c ��4 qlr�...r���ra�rtl����� B�«u�� �t:��-6as��� .....
�. W
��y ���� ww ��; _� 5 million to $10 million per
should allow the addition ofw10 ��ar��azx�t� atrcraft with their values ���� i�� from $1. �m _ mmm_n �_
.� � � d at KDTO for ttae
aircraft. In addtt�on to th� han ar we will be purchasin�a cor�orate aircrafl to be base„ _ n _ _
exclusive use of nrovidin� air taxi service to the area as at our current level of business we have more demand
than capacity,
12. Describe any off site infrastructure requirements;
» Water
� Wastev�-
Page 13 of 18
2614 Tax Abatement Policy
� Streets
' �dll7�
*" �]el'
13, Project Operation Phase, Provide employment information for the number of years incentive is requested.
.�_m�._...�__�. .�..._ � _�_.......�_,�, ��..� ...�. _� A�.��. ,._........ ......
t Project
Existing Start Date At Term of
Employment I.nformatiou Operation (mo/yr) Incentive
(if applicable) /
A.��Total r�ka���I�.r���' of ermane._..�._�..�.�.�.. _u_e. . .�....�_. r.� �...�.. �� .. _.w....... ..._ _.� ..� ...,�� � .,_�.�._
�����p����� nt, full-time jobs
�B. Employees4��ad��9��°����i from..�..� ..�._ �.._.�__. .�.���.�m��� ......_.. ��. �.,�...._ _.. _......._._... .�� ....,.
outside Denton
�.C. Net..m.mermanent full-tim���.....: _ .....� __�� �.�._..�.�.�—. � �....�.� ..� . _ _..�.w.....�.�_.._ _ _�...._.
p m���mITe�obs (A. mmus B.)
� E. �otal annual payrol] for�all permane������������� ����������� ������������ ������� ����.��_ _.
T nt, full-time
jobs (A.)
F. Types of jobs created. List the job titles and number of positions in each category that will be employed
at the facility, Provide average wage for each category.
__�..�. � _�...�,��..�.� .�.__.��.e..��.� �.�._ �...�m ..w.,.,
� � _ 1�x�,�c�,���� ���cr a��s����a�a.Mt�f ��rort��mi�t+� �:i�c.�,t �,va�,i,..�-r��c.�<���
Page 14 of 18
2014 °I'ax Abatcmefit Policy
H. Estimate annua] utility usage for project:
Electric kWh Water �P
..�_^ mci
�a'astewater gpd Gas
y �W�� m e City of Denton as a result of this project (e.g., sales tax rcvenue or ��
14, � Describe an other direct benefits to fh������� �
project elements identified in Tax Abatement Policy, Section TII).
Local contractor, Links Construction, LLC is the proposed vendor for construction.
15. Is property zoned appropriately7 ._�..�,.��..Y�S
Current Zoning, YES
Zoning Required for proposed project. NO
_......� w�......._ .�.�..�. � .��. .�........M��.���..� �._... ....�..�
Anticipated Variances. � NONE
16. Is property platted? Yes �
�.� ...� � ._._�...�..,e._.. _ _.._ �_... �.. �.�....... �.�,�,.� _...�� �,� . .�....� _,_,..�__._...�� .,.. - ,�..�._.� ,.,..._�
Will replatting be necessary Yes N
17, Discuss any environmental impacts created by the project. ���� ��������� � "� ������
A.� List any permits for which applicant must ap �� 1 A licant�will be re u�red to rovide Cit ������� ���������
p Y,���"pp q' p y with copies
of all appJications for environmental permits upon complelion of application(s),
NONE
�B, Provi e record o complianee to all��enviroronenta�l����� � ������������� ��� � � ���������� ���� ���� �� ��������� �� �� ��������
regulations tor f e past five years,
,��N/A_.� ...................m � �...._ ._.�....a...e.e..��_.m� �,_......�.�........... �.
18, �Provide s ecific detail of au ����sia��,s�c�lr•��N�i�,��rt� that will be �ii� �1�rc�� and assistance that w�ll bmmm ITmmm� �-_
p " y � �e availaUle
from the requesting compa�iy.
NONE
19, Provide description of any historically significant atea u�r�t�d�� wid�in the project's area as �i�,t�a��nu�7ec� � �
_ _ __ ___ _ __ __.
....�..__...__._._. _ . ��� by the
Historic preservation Officer. If any, give detail of how the historically significant area will be preserved.
Page 15 of 18
2014 Tax Abatcment Policy
20, �Justification for In �- ��mm�
centive Request: Substantiate and more fully describe the justification for this request,
Include the amount of the incentive requested and show how it will contribute to the financial viability of the
project, Submit attachments if necessary,
� Support of this project wil] serve as a multiplier %r the growth of tax base. � The facili � ��� ������� �� ���
��������������������� • ty will act as a catalyst to
�� entice corporations to move and base their aircrait to Denton. The corporate charter aircraft will provide much
�.��.�....����.�...__�....���.�..��..� da._._ _...�.�.� u��...��_.._.....�. �w���.�v,...�__ �,��_���_�.�....�.�__
needed air taxi lift in support of the community and surrounding area.
21, List additional abatement factors to be considered for this project as outlined on pages 3 and 4 of the
Incentive Policy.
�Occu ias buildin vacant for at least 2 ears mm��� mmm����� W mm���
p g y ���{ L�������rc�s� of materials to public
Project creates high-skilled, high-paying jobs N � Improvements to Downtown
Significant relationship with universities
25% of new 'obs filled b......�........ �_ ............................
� y Denton res�dents
25% local contractors to be utilized �
25% of jobs are knowledge-based
of significant public art
Project forms business park
International or national head �
quarters
Medical manufacturing or research facility
Environmentally sustainable ra ������
p ctices used
Renewable Energy generated/stored/utili�"�mmm�
�T� zed .
22. ��a"�a����Co��ti�n�lmr�� �.u.ro�r:oAttacl� a copy��"the att s hzad���cp�aro�n�of �1 sta ement or,oaa the a.... ..._.�...m,�_��.�__ ..............�._
tY pp tY t
� se c�i"a new project,
a business plan.
23 Does the project have an eligible environmentally:��a����ia���t�Ce or renewab'lc� energy component �id"so, �a]c�Q���*
identify type and provide a brief description)7
24, �LLApPlicants 5e�kita�; l,Ei:D cei�kiticatia�7 must cam�lete tJ�e G�i�ecn f3i�ildii� . APlilicaUon fc�rm ���. _�.... ....
g Tax f1.l�atement
(Exhibit B of the policy),
Page 16 of 18
2014 Tax Abatemen� Policy
COMPLETE THIS SECTION IF REQUESTTNG ADDITIONAL INCENTIVE
BASED ON LEED CERTIFICATION CONSTRUGTION
1. Property Owner
Company or Project Name
Mailing Address
.,,�,�...�.__.�.���.�..�.�.� �_..,.��.,..�.,�a.. .��_�...��_�� � .W� .�.
Website �������� ����,�
Title
Mailing Address
Email ���x°���
' n that the pro ect has been re istered with the U.S„rGreen Buil �� � m���W�� �W W
Prov�de documentatio����
� g ding Council.
.... �_�. �. w�.�_..�a.�_ .....��� �. � �.�,na.�� �..�., ._..� � �
4, Provide a descr�ption of the project � lease include the building size, number of occupants an� ����
� �p � d estimated
budget).
d�t��a�k� ����r��lro���i��ati�y^ �.���ic���wNbip �a� l,xi��°�� ����L� �t�+anro��m°�¢x��,w�t���6)����;,ra ��i,-^;1.��) ��������r¢�illu�,tial�.s�� �1n�..�...� �.
project will achieve the LEED certification.
Level of Certification: ������ �������� � ��������� ��������� �
..� ....
...,..m.e. ... _ ,.. � �.._....�
.W � W_.....e.�� �
��Number of Points,� ���µ��„�
Page 17 of 18
2014 Tax Abatcmcnt Policy
This Incentive Application is submitted with the acknowledgementthat additional information may be required.
�...� w�......w,._.._m. �....._......�.._ .� �� __ _._._._ �...__.
Autl�orized Signature
����� ;
Page 18 of 18
Exhibit C
CERTIFICATE OF AUTHORITY OF OFFICER
BAM DENTON MANAGEMENT VENTURES, LLC
I, Gene Buccola, CEO of Denton Aviation Holdings, LLC, a Washington limited
liability company ("Aviation Holdings"), hereby certify:
1. I am the duly elected, qualified and acting CEO of Aviation Holdings as of
the date hereof.
2. Aviation Holdings is the 100% member of BAM Denton Management
Ventures, LLC, a Texas limited liability company, dba Business Air
("Business Air").
3. R. Damon Ward, the CEO of Business Air, has full power and authority to
execute and deliver on behalf of Business Air that certain Economic
Development Program Grant Agreement to be made and entered into as of
the effective date provided for therein by Business Air and the City of
Denton, a Texas municipal corporation, for the purposes and
considerations stated therein.
IN WITNESS WHEREOF, the undersigned has executed this Certificate this lst
day of April, 2015
�.�.��y�...w� .,,���
.
� � ..�.�. �.�.� �a.��m�.,,„
�" ��,�, .__..._ .........................................................
Gene Buccola� �
CEO
Denton Aviation Holdings, LLC