HomeMy WebLinkAboutPR 14381:BASF INDUSTRIAL AGMTinteroffice
MEMORANDUM
To:
From:
Date:
Subject:
Mayor, City Council, and City Manager
Valecia R. Tizeno, First Assistant City Attorney
September 21, 2007
P. R. No. 14381; Council Meeting September 25, 2006
Attached is P. R. No. 14381 approving a new Industrial
District Agreement with BASF Corporation for 2008. BASF will
provide information estimating that their 2008 values at the
Council Meeting, which will be attached as Exhibit "E" to the
agreement. The agreement provides that the payment will be 80%
of the taxes as if they had been located in the City. We should
have Exhibit "E" to the agreement by Tuesday.
VRT:gt
Attachment
cc: Director of Finance
Mr. Mark Garner
BASF CORPORATION
z. pr14381.memo
P. R. No. 14381
09/21/07 gt
RESOLUTION NO.
A RESOLUTION APPROVING AN INDUSTRIAL DISTRICT
AGREEMENT WITH BASF CORPORATION
WHEREAS, the City and BASF Corporation entered into an
Industrial District Agreement per Resolution No. 06-365 for the
year 2007; and,
WHEREAS, the City and BASF Corporation desire to enter into a
new agreement; and,
WHEREAS, BASF Corporation will be paying the City 80% of the
taxes as if they had been located in the City.
WHEREAS, NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PORT ARTHUR, TEXAS:
That the facts and opinions in the preamble are
Section 1.
true and correct.
Section 2.
That the City Manager is herein authorized to
execute a new Agreement with BASF Corporation on behalf of the
City in substantially the same form as set forth in Exhibit "A"
attached hereto for the year of 2008.
Section 3. That a copy of the caption of this Resolution
be spread upon the Minutes of the City Council.
READ, ADOPTED AND APPROVED on this day of
the City of
z.pr14381
, A.D., 2007, at a Meeting of the City Council of
Port Arthur, Texas, by the following vote: AYES:
Councilmembers ,
;
NOES:
ATTEST:
MAYOR
CITY SECRETARY
APPROVED AS TO FOBM:
APPROVED FOR ADMINISTRATION:
CITY MANAGER
z.pr14381
EXHIBIT "A"
STATE OF TEXAS
COUNTY OF JEFFERSON §
INDUSTRIAL DISTRICT AGP~EMENT
WITH BASF CORPORATION
WHEREAS, the City of Port Arthur and BASF Corporation
entered into an Industrial District Agreement on or about
September 18, 2006, that was approved by Resolution No. 06-365;
and
WHEREA.~, this Industrial District Agreement will
December 31, 2007; and
WHEREA~, BASF Corporation hereinafter denoted as
expire on
the
"Company" is the owner of the property described in Exhibits "A"
and "B"; and
WHEREAS, the Company is a business that presently produces
the products described in Exhibit "C" at its Port Arthur
facility; and
WHEP~AS, the Company presently has the land, improvements,
inventory, equipment and units described in Exhibit "D" with the
value described in Exhibit "E"; and
WHEREAS, the Company plans to make a capital expansion in
the timetables and values as described in Exhibit "F"; and
WHEREA~, the City of Port Arthur and the Company wish to
address the following:
described in Exhibits
z.basf ida 2008
(1) health and safety issues on the land
"A" and "B" and at any existing plant or
at any plant
City's review thereof,
revenue source that is
that may be built thereon and procedures for the
(2) needs of the City to have a stable
not materially affected by appraisal
litigation,
the City,
residents,
Agreement;
(3) the need to define backup services provided by
(4) employment opportunities for Port Arthur
minorities, and companies, and (5) the terms
and
of a new
WHEREAS, the City of Port Arthur ("City") and the Company
desire to enter into a new Industrial District Agreement with
respect to property described on Exhibits "A" and "B" that is
within the extraterritorial jurisdiction of the City; and
WHEREAS, the City and the Company agree that there has been
full and adequate consideration for the new Industrial District
Agreement with the Company; and
WHEREAS, this new Agreement is authorized under Sections
42.044 and 212.172 Local Government Code, Vernon's Texas Code
Annotated, and that the parties agree that the following terms
are reasonable, appropriate, and not unduly restrictive of
business activities; and
WHEREAS, all parties find that this new Agreement as
delineated herein is beneficial to each party; and
NOW, THEREFORE, in consideration of the promises and the
mutual agreement of the parties contained herein, the City of
z.basf ida 2008 2
Port Arthur and BASF Corporation
follows:
Section 1.
agree with each
other as
Payments by BASF Corporation.
(a) For the year 2008, BASF Corporation shall pay to the
City the amounts delineated in this Section so long as this
Industrial District Agreement is in full force and effect and
all of the property described in Exhibits "A" and "B" is not
annexed by the City.
(b) The Company shall pay to the City of Port Arthur
amounts equal to eighty percent (80%) of the amount of taxes
that the Company would have paid to the City with respect to the
property (land, improvements, units, equipment, inventory, and
all other property located thereon) described in Exhibits "A"
if it had been located within the corporate limits of
The "in lieu of tax" payment shall be paid by October
and "B" as
the City.
15, 2008.
(c) The City shall
previously paid by the Company,
the City.
(d)
not refund or credit any monies
either directly or indirectly to
BASF Corporation shall also pay any sums due and owing
on its September 2006 "in lieu of tax" agreement.
Section 2. If requested orally or in writing by the
Company, the City's Fire Department shall provide backup fire
z.basf ida 2008 3
suppression support, and the City's Police Department shall
assist in providing an evacuation route and traffic control in
the case of a fire or a chemical release at the Company plant
located in the City's extraterritorial jurisdiction.
Nevertheless, the Company shall be primarily liable for taking
such precautions as is expected in the industry and as is
required by federal, state and local law, including the standard
codes as delineated and referenced in the Fire Code as published
each year by the International Code Council to prevent (1) fire,
explosions and chemical releases and to provide an evacuation,
and (2) the imprudent discharge of storm water that contributes
to flooding on adjacent property. The Company shall employ or
provide sufficient fire suppression personnel and equipment to
provide an initial and primary fire suppression response, as
well as to control and abate chemical releases. The Company
shall provide the City's Fire Chief and Police Chief with
Emergency Response Plans for any plants,
operations or other hazardous operations
land described in Exhibits "A" and "B".
the City is requested to provide initial
refineries, chemical
that take place on the
If there is a fire and
and primary fire
suppression services or if a cleanup is required under the 2000
International Fire Code, the Company will pay to the City the
costs and expenses incurred by the City and any of its
departments.
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Section 3. The Company shall promptly notify the
central dispatch office which serves the City's Fire Chief,
Police Chief, and the City's Emergency Management Coordinator of
all incidents involving fires, serious injuries, deaths,
chemical releases and flooding that create a health and safety
hazard to the community or that exceed OSHA permissible exposure
limits.
Section 4. It
in this Agreement will
is specifically stipulated that nothing
in any manner limit or restrict the
authority of the City to annex all or part of said lands and
facilities during the period of the Agreement if the City should
determine that such annexation is reasonably necessary to
promote and protect the general health, safety and welfare of
the persons residing within or adjacent to the City, provided
however,
October 1, 2008
Notwithstanding,
that the City agrees that such annexation prior to
will not be made for revenue purposes only.
the parties agree and consent that the City can
annex if a bill is adopted by the State legislature which
materially limits or restricts the authority of the City to
annex all or part of said land and facilities. In the event of
such annexation, the Company will not be required to make
further payments under this Agreement for any calendar year
commencing after such annexation with respect to property so
z.basf ida 2008 5
annexed, but shall nevertheless be obligated to make full
payments for the year during which such annexation becomes
effective if the annexation becomes effective after January 1st
of said year. The Company shall not be required to pay ad
valorem taxes to the City for the same period of time that they
have already paid an ~'in lieu of tax" payment, with respect to
the property described in Exhibits "A" and "B" to this
Agreement. In case the property described in Exhibits "A" and
"B" is annexed prior to December 31, 2008, the City will remit
to the Company any taxes paid to the City in excess of the "in
lieu of tax" payments as described in Section 1 as an Economic
Incentive Program as allowed under Chapter 380 Local Government
Code. This partial remission of taxes (Economic Incentive
Program) will only be applicable until December 31, 2008. If
the annexation laws are changed so that the City can no longer
annex the property of the Company, the Company agrees that it
will continue to annually pay to the City the "in lieu of tax"
payments delineated in Section 1 until December 31, 2008 and it
will thereafter continue to pay the City an "in lieu of tax"
payment of 80% of its appraised value times the City's tax rate
for so long as it or its assignees and successors owns the
property as described in the attached Exhibits "A" and "B".
Payments will be due on October 15th of each year. If the
z.basf ida 2008 6
annexation laws are changed so that the City can no longer annex
the property of the Company,
that the City has the option,
extend this contract and that
the Company agrees and consents
at the City's sole discretion, to
the Company will continue to be
obligated to pay the City "in lieu of tax" payments not to
exceed 15 years each, for a total duration not to exceed 45
years. The appraised value of the Company's plant is the value
as denoted by the Jefferson County Appraisal District and
includes all of the land, buildings, goods, equipment,
inventory, and other property that is or will be located in or
on the property described in the attached Exhibits "A" and "B".
This also includes the appraised value of any property that is
zone or in any other type of federal,
located in a free trade
state or local zone.
Section 5.
The parties agree that the City has the sole
discretion after October 1, 2008 to annex the property in
Exhibits "A" and "B" or to enter into negotiations on the
payment by the Company of additional "in lieu of tax" payments.
Section 6. The present owners of the tract are
described in Exhibit "G". If the Company only owns or possesses
a partial interest in any of the parcels or tracts described in
Exhibits "A" and "B" to this Agreement, the City reserves the
right to annex that tract or parcel if the other owners do not
z.basf ida 2008 7
pay an Kin lieu of tax" payment for their interest in the
property. If the City annexes a tract or tracts, the total "in
lieu of tax" payment will be reduced by the same percentage as
the appraised value of the tracts under the contract are
reduced.
Section 7.
The City will not commence annexation
proceedings prior to October 1, 2008 for the Company's property
as delineated in Exhibits "A" and "B" to this Agreement under
Chapter 43 of the Local Government Code, or file litigation in
District Court to abate or prevent a nuisance or seek a civil
penalty under Sections 54.016, 54.017, and 217.042 Local
Government Code for ~'health, safety and welfare concerns" until
written notice of the concerns have been delivered to the
Company, and they have had an opportunity to respond and to
address the City Council in open session.
Section 8. If there is a dispute as to whether there is
a health, safety and welfare concern for an event that occurs
prior to October 1, 2008, the matter can, at the request of
either party, be submitted to arbitration before an arbitrator
selected from a panel supplied by the American Arbitration
Association ("AAA"). The arbitration shall be governed by the
rules of the AAA and shall take place in Jefferson County or at
such other locations as the parties agree to. The request for
z. bas f_ida_2 0 0 8 8
arbitration must be demanded in writing no later than ten (10)
days following the City Council meeting at which the Company had
the opportunity to address the City Council, in accordance with
Section 7, or the right to arbitration shall be waived unless
the parties agree otherwise. The costs of the arbitration shall
be shared equally between the two {2) parties. The arbitration
process shall be completed within forty-five (45) days from the
date the arbitrator is selected, and if it is not so completed,
either party may proceed with annexation or litigation as they
so desire.
Section 9. When hiring, the Company shall continue to
seek qualified applicants by advertising in the official
newspaper of the City as to give Port Arthur residents a fair
opportunity to apply for employment with the Company for work on
the plants that are located or to be located on the land
described in Exhibits "A" and "B". The Company shall use its
best efforts to hire Port Arthur residents for both the
construction work and for permanent jobs. The Company shall
also continue to give Port Arthur companies a fair opportunity
to sell goods and services to the Company. For major new
capital expansions as measured by industrial standards, the
Company shall also include advertising for construction and
permanent jobs in the local market, including radio stations in
Port Arthur, and shall also include recruitment through the
z.basf ida 2008 9
Texas Work Force Commission in Port Arthur, Lamar College-Port
Arthur, PAISD, the Black Pastor's Association and the
Ministerial Alliance, the Port Arthur NAACP, and local labor
unions. For major new capital expansions, the Company shall
also meet every other month or at other intervals mutually
agreed on with City officials to monitor progress on hiring and
hiring efforts and to try to make adjustments in the recruitment
process, if needed. The Company will also have a local hiring
facility in Port Arthur or in Port Arthur's extraterritorial
jurisdiction for both the retention/selection of new employees
and contractors. Ail employees, as well as contract and
construction workers, will be paid at least the prevailing wage
as set by the City in accordance with Chapter 2258 Government
Code. The Company shall also be receptive and responsive to
SBE/MWBE projects and programs of the City.
Section 10. The Company shall have the right to assign,
transfer, or convey all, or any part of its rights, title and
interest in this Agreement to any of its subsidiaries or
controlled affiliates (control being more than a 50% ownership
interest). The Company shall remain financial responsible for
its subsidiaries and for its affiliates. The Company shall have
the right to assign, transfer or convey all, or any part of its
rights, title and interest in this Agreement to any person other
than one of its subsidiaries or the Company controlled
z.basf_ida_2008 ]0
affiliates in connection with any transfer or conveyance of
title to all or any part of the properties subject to this
Agreement at any time during the term of this Agreement,
provided however, that the Company shall provide written notice
of suoh assignment and shall receive the written consent of the
City Council, by a duly adopted Resolution, which will not be
unreasonably withheld. If the Company desires to make an
assignment to any person other than one of its subsidiaries, or
the Company controlled affiliates, it shall make a written
request to the City Council, attaching (1) a description of the
new company, (2) a financial statement of the new company, (3)
the proposed contract between the companies, and (4) the portion
or portions of the plant with respect to which the rights and
obligations are to be assigned. The Company shall be relieved
of its obligations under this Agreement to the extent that an
approved assignee expressly assumes the Company's obligations.
Subject to the preceding, this Agreement shall inure to the
benefit of and be binding upon the parties hereto and their
respective successors and assigns.
Section 11. The City encourages capital expansion on the
land described in Exhibits "A" and "B" and the City agrees to
act in good faith to negotiate reasonable incentive programs
with the Company as such new projects are contemplated. This
includes major new capital expansions that are not delineated in
Exhibit "F", since all parties agree that reasonable incentive
programs should be offered and that the Company expects to pay,
and should pay, reasonable "in lieu of tax" payments on new
capital projects. Major new capital expansion shall also
include any project for which the Company seeks tax abatement
from any taxing entity.
Section 12. It is agreed by the parties to this
Agreement that the Company and the City have the right to seek
including specific performance of this
equitable relief,
Agreement.
Section 13.
The Company shall allow authorized employees
and/or representatives of the City, including a monitor, who
have been designated and approved by the City Council, Mayor, or
the City Manager, to have access to the Company's land and/or
plants during the term of this Agreement to inspect the plants
and any improvements thereto to determine compliance with the
terms and conditions of the Agreement. Ail inspections will be
made at mutually agreeable times and will only be conducted in
such manner as to not unreasonably interfere with the
construction and/or operation of the Company.
will be made with one or more representatives
in accordance with the Company safety standards and security
z.basf_ida_2008 12
Ail inspections
of the Company and
standards and rules. Ail inspections shall be made only on 48
hours' notice, except in case of an emergency.
Section 14. The Company shall certify the commencement
and completion date of the contemplated improvements described
in Exhibit "F" herein.
or make available for
written statements to
Additionally, the Company shall furnish
inspection the following information or
the City at least every six (6) months
during the construction period of major capital improvements:
(1) Statement by Company describing the status of
construction of the contemplated improvements,
percentage of construction completed, construction
schedule and Company's estimate of taxable value of
constructed improvements on the date of the statement;
and
(2) Statement by the Company of the numbers of Port Arthur
residents, minorities, and companies hired and the
amount of Port Arthur goods and services purchased; and
(3) Any information, documents or records of any kind
reasonably necessary for the City's evaluation of the
Company's compliance with the terms and conditions of
this Agreement and the City's guidelines, provided
that the Company shall not be required to furnish any
information, documents, or records which a reasonable,
z.basf ida_2008 13
prudent Company under the same or similar
circumstances would consider to be harmful
business
The Company's
to its
operations.
statements described above shall be verified
by the Company's project manager or other appropriate
representative.
Section 15. The Company agrees to annually furnish
information necessary for the City to evaluate the Company's
compliance with the terms and conditions of this Agreement. The
Company further agrees that on or before March 1st of each year
of this Agreement, the Company shall provide the City an annual
report/statement of compliance with this Agreement.
Section 16. The Company has indicated that no new
construction jobs will be utilized in building the improvements
for the new project, as described in Exhibit "F" and no new
permanent jobs will be created at the plant once the new project
is completed. The City reserves the right to hire or contract
for a monitor as to review the Company's records and hiring
practices as to verify whether the Company has complied and will
continue to comply with this Agreement as to any construction
improvements.
Section 17. By acceptance of this Agreement and/or
benefits conferred hereunder, the Company represents and
z.basf_ida_2008
warrants that its undersigned agent has complete and
unrestricted authority to enter into
obligate and bind the Company to all
and conditions contained herein.
Section 18. Notice of Default.
this Agreement and to
of the terms, covenants,
Notwithstanding anything
herein to the contrary contained, in the event of any breach by
the Company of any of the terms or conditions of this Agreement,
the City shall give the Company not less than five (5) business
days' written notice, specifying the nature of the alleged
default and manner in which the alleged default may be
satisfactorily cured. Thereafter, the Company will be afforded
a reasonable time within which to cure the alleged default.
Nevertheless, time is of the essence on the payment schedule for
the "in lieu of tax" payments.
Section 19. Entire Agreement. This Agreement
constitutes the entire Agreement of the parties with respect to
the subject matter here, and supercedes any and all prior
understandings or oral or written Agreements between the parties
respecting such subject matter, except as otherwise provided in
the instruments referenced herein.
amended only by written instrument
hereto.
This Agreement may be
signed by all of the parties
z.basf ida 2008
Section 20. Severability. If any term or provision
in this Agreement or the application thereof to any person or
circumstances shall to any extent be held to be invalid or
unenforceable by a court of competent jurisdiction, such
invalidity or unenforceability shall not affect any other
provision of this Agreement or the application thereof which can
be given effect without the invalid or unenforceable provision
or application, and the parties agree that the provisions of
this Agreement are and shall be severable. Payment of the "in
lieu of tax" payments is an essential part of this Agreement.
Section 21. Remedies Cumulative. Except as otherwise
expressly provided herein, all rights, privileges and remedies
afforded the parties by this Agreement shall be deemed
cumulative and not exclusive, and the exercise of any one or
more of such remedies shall not be deemed to be a waiver of any
other right, remedy or privilege provided for herein or
available at law or in equity.
Section 22. Governing Law. This Agreement shall be
governed by and construed in accordance with the laws of the
This Agreement is to be performed in Jefferson
State of Texas.
County, Texas.
Section 23.
Any notice provided for in this contract
shall be given in writing to the parties hereto by certified
z. bas f_ida_2008 16
mail, return receipt requested, or by other delivery means
addressed as follows:
TO CITY:
City Manager
City of Port Arthur
444 4tn Street
Port Arthur, TX 77640
TO BASF CORPOBATION:
Site Manager
BASF CORPOP~%TION
14385 West Port Arthur road
Beaumont, TX 77705
with a copy to:
City of Port Arthur
City Attorney
444 4th Street
Port Arthur, TX 7741
or
shall designate by at least ten
party.
Section 24.
January 2008, and
such other address in each case as the party to be notified
(10) days notice to the other
This Agreement is effective the 1st day of
shall expire on the 31st day of December 2008,
unless extended by the City of Port Arthur.
Section 25. The Company has the option to terminate this
Agreement and request that the property described in Exhibits
"A" and "B" be annexed by the City. This Agreement will not
terminate until the annexation is completed and the "in lieu of
tax" payment will continue to be paid during the year of
annexation. Furthermore, the City will proceed in a timely
manner with the annexation.
z. bas f_ida_2008 17
SIGNED AND AGREED to
2007.
on this the day of ,
BASF CORPORATION
BY:
ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF JEFFERSON §
BEFORE ME, the undersigned Notary Public, on this day
personally appeared
known to me to be the person whose name is described to the
foregoing instrument, and acknowledged to me that he executed
the same as the act and deed of BASF Corporation, for the
purposes and considerations therein expressed, and the
capacities therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, THIS THE __
, A.D., 2007.
day of
NOTARY PUBLIC, STATE OF TEXAS
z.basf ida 2008
SIGNED AND AGREED to on this the day of ,
2007.
CITY OF PORT ARTHUR, TEXAS
BY:
ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF JEFFERSON §
BEFORE ME, the undersigned Notary Public, on this day
personally appeared Stephen Fitzgibbons, City Manager, known to
me to be the person whose name is described to the foregoing
instrument, and acknowledged to me that he executed the same as
the act and deed of the City of Port Arthur, for the purposes
and considerations therein expressed, and the capacities therein
stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE, THIS THE __ day of
, A.D., 2007.
NOTARY PUBLIC, STATE OF TEXAS
z.basf ida 2008
EXHIBIT ~A"
Attached herein are the legal descriptions of the tracts
owned by BASF Corporation , which are the subject of this
Agreement.
z. bas f_ida_2008 20
~'~,'t~':~.':~' .." ...''....',.'~',~ ......." · ~, '~' · · · . · ' : ' · -..J .. ' ...:~ ': .',:t:...M ..~.(~¢.,~
"t:'/ ' -.~. r~.,.~,~ ~u.~ or a .port,on o~ propert~-o:f~",,
..s Tr,c,:t....~41.3~.~.cres ou['ofinorth par~ of } ';:'~' ":-: ": ' "':'?'~ "~' ~"::?:'
:~ ~. ..~' · r{.': ~39/
~' :~ !. , ..',: : · ,. .. .. : . u : .'. , · .
A-, .(.S~:,h j. ae~e.rt.); 'Tract 2 199 59 acres out ~¢; ' ;' ~ ""? .': .... '
'.' ' :' ,,ame .,urvev.u..
· .:'..' )'~ :..'
,ketch) along .the property line shown as 527°30'36"[ tha¢ is t.tast of and run- '. .'.'.
i,,g po,.c. .
d/stance 9ff 830 flee[ to a poin[ thence due south a -dis~ance.o~'6SO.30 fea~ "'"':~:~ 2~'
' ' '-:'i.'.:.7 '"'
a point, th~n due west a:cHstance of 1,170 feat to a poin~ .~hence due south ':" ·
distance o7 ],000.fee¢ t~ a point, thence'jdue ~ast'a. . . ' o~s ~ance' ' ' 'or'~l.04"' rea~' ' ' ' . ' '""
. . .' . - ' . ..' . . · .2...~}:: ..~'.'
a po'~at ~'heace 520e05~0,[ a d' "~ . '~.'"' '- '
~70:~0' ;:c::::;":.::-.'' :,' : : 4'.;'~
:, , ~.= ....... ~,~ - P p cy the, ce ....
:........ : ~. ~. :~ , . .. .... .
Ba~.ng.a tract of:land'ou'~'~" ,;~,,'.:'~..~ , "'. -.'..,.- ' ..._. '. .- · .:.:..:Z..:.'."'.
· .'-.' '..'6".;. -.'.. :,¢'.~.'.;:'~; ~s' ?~Le;~.S~'~eY ~bs~ra~
~y lOXag. ' · ' :.;.. ~-': ..... P. '.3 ' ' '% ........ ~ ~ q -~'
,. ...~-.. ,. ..~.2.¥..,.~ .... d. r: ..... ~. ,. · : ~ '.. ~. ..- . , ..-.-
~. ...... ~.:.~,.,,,.~ .... . .... ,. . . .. ..} .... . ~..-:..> .... · ....
'. "' ' "':'~'" ,'.,"'N"'".'..':' " ' · ~ '..~';:, '"'~"%'"'? ".' ' ' . · '
.....:.[ ..- .-... '.. ·
. . . .~ ,~'; ,." . .
The map
hereto.
showing the
EXHIBIT ~B"
location of the tracts is attached
z.basf ida 2008 21
'. ":.. .': "'i'll''I'..' '." . '0
EXHIBIT ~C"
The plant owned by BASF Corporation produces chemicals for
agricultural usage.
z. bas f_ida_2008 22
EXHIBIT ~D"
BASF Corporation is a chemical company with units, storage
facilities and pipelines to produce, store and transport
chemicals for agricultural use.
z. bas ~_ida_2008 23
EXHIBIT ~E"
A memorandum from BASF will be presented at the Council
Meeting, delineating their estimate
improvements, equipment, inventory, units,
property) located on Exhibits "A" and "B",
lieu of tax" payment to be made by BASF to the City of
Arthur.
of the 2008 values (land,
and all other
and the expected "in
Port
z.basf_ida 2008 24
EXHIBIT ~F"
NO planned capital expansion
z. bas f_ida_2008 25
EXHIBIT ~G"
BASF Corporation owns the property described in Exhibits
"A" and "B".
z.basf ida 2008 26