Item Coversheet

Agenda Item Summary


Ordinance # / Resolution #: Ordinance 2024-1890
Contact Person / Sponsor: Brian Fulk / Economic Development
Department: Economic Development
Date Requested to be on Agenda: 2/12/2024
Council Action Requested:

Approve an Infrastructure Reimbursement Payment from the County to the Company equal to 50% of the FILOT payments for year 11 and years 12 through 15 as long as Company maintains an average of 100 employees at the Project during such tax year; Company must pay FILOT payment in full on or before January 15 of each calendar year and County Council determines annually whether to provide an Infrastructure Reimbursement Payment. 




Strategic Plan Focus Area Alignment:

Points to Consider:

Project Pennant is an existing company in Lancaster County and largest employer in the Heath Springs area.  Part of a group that has been operating since 1944 and, it has operated in the County for over two decades. The company sells wholesale gift and novelty products into retail markets across the country.

 

 



Funding and Liability Factors:
N/A

Recommendation:

Approved the Economic Development Incentive amendment.  



ATTACHMENTS:
DescriptionUpload DateType
Ordinance 2024-18902/5/2024Ordinance
Exhibit A2/5/2024Exhibit