"... the public policy of
the State, Eugene, and the County is to encourage, develop and expand business, industry
and commerce in order to reduce unemployment and to improve the public health, safety,
welfare and future prosperity of the citizens ..."
Hyundai shall construct and
substantially complete a semiconductor manufacturing facility of approximately 500,000
square feet (no increased to 600,000) on the property ... within twenty-four months from
the Closing that will initially employ approximately 800 people.
The Oregon Economic
Development Department shall assist Hyundai in all its dealings with other state and
federal departments and agencies and shall also use its best efforts to expedite all
application processes ..."
Eugene
shall provide:
# a financing plan for payment of the Systems Development Charges, if Hyundai requests one# [in cooperation with other agencies] transportation and non-EWEB-related infrastructure improvements needed to serve the Project, at no cost to Hyundai.
# dedicated Eugene staff to ensure fast tracking ... # telecommunications services from U.S. West sufficient to support the Project # natural gas sufficient natural gas to support the Project provided by Northwest Natural Gas
# permission for Hyundai to buy into the Eugene wetland bank.
EWEB
shall provide:
# dual electric and dual water service sufficient to all presently contemplated phases of the Project
# a negotiated contract for electric and water service. Hyundai shall not subsidize other EWEB customers
# incentives for investment in energy efficient equipment.State
shall provide:
# waiver of 100% property taxes for up to 2 years during construction
# waiver of 100% property taxes for additional 3 years, if Hyundai meets requirements
# subject to Eugene City Council approval, waiver of 100% property taxes for additional 2 years# its continued best efforts to amend legislation relating to enterprise zones so that Hyundai can receive the previous two incentives # coordination of recruitment, hiring, training and development of Hyundai's 800 employees by working with Lane Community College, Oregon State Employment Dept., and the Southern Willamette Private Industry Council ...
# the State will pay all curriculum development costs at LCC after Hyundai has determined what training is required # up to $500,000 in Research and Development tax credits for 1996 and 1997 # business energy tax credits up to 35% of cost of qualified energy conservation equipment up to $500,000
# pollution control tax credits of up to 50% of the value of plastic recycling equipment up to a value of $500,000 # dependent care tax credits # reclaimed plastics tax credits of 50% of the value of plastic recycling equipment, with a total value of up to $500,000.
The
County shall provide at no cost to Hyundai:
# improvements to the streets serving the Project ... Back to article