resolution - County Resolutions

resolution - County Resolutions

«cru . October 18, 2006 ■."-.'■■Y- DATE (Month, Day, Year) /vy -r ,7^ STATE OF TENNESSEE Hamilton County Hamilton County Board of Commissioners ...

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«cru .

October 18, 2006

■."-.'■■Y-

DATE (Month, Day, Year)

/vy -r ,7^

STATE OF TENNESSEE Hamilton County

Hamilton County Board of Commissioners

RESOLUTION No.

1006-36

A RESOLUTION TO MAKE CERTAIN FINDINGS RELATING TO THE WM. WRIGLEY JR. COMPANY PROJECT, TO DELEGATE CERTAIN AUTHORITY TO THE INDUSTRIAL DEVELOPMENT BOARD OF THE COUNTY OF HAMILTON, TENNESSEE, AND TO AUTHORIZE THE COUNTY MAYOR TO ENTER INTO AND EXECUTE AN AGREEMENT FOR PAYMENTS IN LIEU OF AD VALOREM TAXES. WHEREAS,

pursuant to Tennessee Code Annotated, Section 7-53-305(b) Hamilton County (the "County") is permitted to delegate to The Industrial Development Board of the County of Hamilton, Tennessee (the "Corporation") the authority to negotiate and accept payments in lieu of ad valorem taxes from lessees of the Corporation upon a finding by the County that such payments are deemed to be in furtherance of the Corporation's public purposes; and,

WHEREAS,

The Wm. Wrigley Jr. Company or an affiliate entity thereto (the "Company") is contemplating die expansion and equipping of improvements to its manufacturing facility in the County, and, because of the substantial economic benefits to the Comity and the City of Chattanooga resulting from the project, has asked the Corporation and the County Commission to approve payments in lieu of ad valorem taxes; and

WHEREAS,

the Commission has determined that payments in lieu of ad valorem taxes from such a project would be in furtherance of the Corporation's public purposes as set forth within Chapter 53 of Title 7 of the Tennessee Code Annotated;

NOW, THEREFORE, BE IT RESOLVED BY THIS COMMISSION: That we do hereby find that The Wm. Wrigley Jr. Company project referenced above is in the best interest of the County, and that payments in lieu of ad valorem taxes derived therefrom would be in furtherance of the Corporation’s public purposes; and, That, having made such a finding in this instance, we do hereby delegate to the Corporation the authority to negotiate and accept payments in lieu of ad valorem taxes from the Company, it being further noted that this delegation is for this purpose and this project only; and, That the County Mayor is hereby authorized to enter into an Agreement for Payments In Lieu Of Ad Valorem Taxes in the form attached hereto, with such changes thereto as he shall approve; and, BE IT FURTHER RESOLVED THAT THIS RESOLUTION TAKE EFFECT FROM AND AFTER ITS PASSAGE, THE PUBLIC WELFARE REQUIRING IT.

I 'M

PAGEl I E

Content 3265322 l.DOC

riF)çMïQ >4OF ACTION

Approved

Rejected:



Jounty Executive

October 18/> 2006 Date Printed on racy d a d paper.

^ S ô L o r /o ^

IO O G ' 3^?

HAMILTON COUNTY GOVERNMENT OFFICE OF THE COUNTY ATTORNEY Room 204 County Courthouse Chattanooga, Tennessee 37402-1956 Telephone (423) 209-6150 Fax (423) 209-6151 Rheubin McGhee Taylor County Attorney

David Norton Assistant County Attorney

M ary Neill Southerland Assistant County Attorney

MEMORANDUM TO: FROM: BATE: RE:

Debbie Rollins, County Clerk’s Office , Deborah Jefferson, County Attorney’s Office-vjr February 15, 2007 Economic Development Agreement for Wrigley Manufacturing Company, LLC (Pilot Agreement)

For your records, please find the final executed copy of the Agreement between The Industrial Development Board of the County of Hamilton, Tennessee; Wrigley Manufacturing Company, LLC; the City of Chattanooga; and Hamilton County, for Payments of Lieu Of Ad Valorem Taxes.

Enclosure

AKTIN PLLC ATTORNEYS AT LAW S u ite

loot)

ALFRED E. SMITH, JR.

V o l u n t e e r B u ild in g 83Z G e o rg ia , a v e n u e C h a t ta n o o g a , T e n n e s s e e 37402-2289 (423) 756-6600 FAX (423)7 8 5 -8 4 8 0

Direct Dial (423)785-8223 DircctFax (423)321-1564 [email protected]

February 13,2007

h tstt Office of the Comptroller Division of Property Assessments Suite 1400 (EDA Compliance) 505 Deaderick Street Nashville TN 37243-0277 Attention: Barry Monson Re:

n

FEB 1 5 20W

u

HAMILTON COUNTY ATTORNEYS OFFICE

Economic Development Agreement for Wrigley Manufacturing Company, LLC

Dear Mr. Monson: Enclosed in accordance with the requirements of T.C.A. §4-17-301 et seg is a copy of an Agreement For Payments In Lieu Of Ad Valorem Taxes with respect to Wrigley Manufacturing Company, LLC. Sincerely yours,

Alfred E. Smith, Jr. AES/gp Enclosure

cc:

Mr. Scott Saef (w/enclosure-original for Wrigley) Mr. Ross I. Schram III (w/enclosure - original for IDB) Mr. Randall L. Nelson (w/enclosure - original for City) Mr. Rheubin M. Taylor (w/enclosure - original for County) Honorable Claude T. Ramsey, County Mayor (w/enclosure - copy) Honorable Ron Littlefield, Mayor (w/enclosure - copy) Ms. Susan Bedwell (w/enclosure - copy) Honorable William C. Bennett (w/enclosure - copy) Mr. James Gattis (w/enclosure - copy) Mr. Louis Wright (w/enclosure - copy) Ms. Daisy Madison (w/enclosure-copy) Mr. Steve Hiatt (w/enclosure - copy)

3515473J .DOC A tla n ta



C h a tta n o o g a •

N a s h v ille

www. miller martin, com

AGREEMENT FOR PAYMENTS IN LIEU OF AD VALOREM TAXES

THIS AGREEMENT is made and entered into as of this 1st day of November, 2006, by and among THE INDUSTRIAL DEVELOPMENT BOARD OF THE COUNTY OF

HAMILTON,

TENNESSEE

(the

"Board");

WRIGLEY

MANUFACTURING

COMPANY, LLC, a Delaware limited liability company ("Wrigley”); the CITY OF CHATTANOOGA (the "City"); and HAMILTON COUNTY (the "County") and is joined in, for, among other reasons, the purposes of evidencing their acceptance of the agency relationship established herein, by CARL E. LEVI and his successors, acting in the capacity of HAMILTON COUNTY TRUSTEE ("Trustee"), and by WILLIAM C. BENNETT and his successors, acting in the capacity of HAMILTON COUNTY ASSESSOR OF PROPERTY ("Assessor"). WITNESSETH: WHEREAS, Wrigley is contemplating the expansion and equipping of improvements to its manufacturing plant on property located in Chattanooga, Hamilton County, Tennessee (the "Project"), resulting in (a) an investment of approximately $18 million in personal property and $5 million in real property and (b) an increase of employment of approximately 150 new, full time jobs having an average annual total compensation as stated on each employee’s federal W-2 statement (including 401k but excluding benefits) of at least $49,000,00, over a three-year period from June 26, 2005 (the “Investment and Jobs Projection”), and has requested the Board's assistance in the financing of the Project; and WHEREAS, substantial economic benefits to the Chattanooga and County economies will be derived from the Project; and

1

k

I ^

WHEREAS, the Board has agreed to take title to certain real and personal property, as described in Exhibit "A" attached hereto (the "Property"), which Property is to be owned by the Board and leased to Wrigley; and WHEREAS, because the Property is to be owned by the Board, which is a public corporation organized under the provisions of Tennessee Code Annotated, §7-53-101, et seq., all such property will be exempt from ad valorem property taxes ("property taxes") normally paid to the City of Chattanooga, the County and any other taxing bodies, so long as the Property is owned by the Board, pursuant to the provisions of Tennessee Code Annotated, §7-53-305; and WHEREAS, for the public benefit of the citizens of the City and the County, the Board has requested that Wrigley make certain payments to the Board in lieu of the payment of property taxes that would otherwise be payable on the Property; and WHEREAS, Wrigley has agreed to make such payments to the Board in lieu of the property taxes otherwise payable on the Property (the "In Lieu Payments"), as more particularly set forth hereinafter; and WHEREAS, the Board has been authorized to receive the In Lieu Payments in lieu of property taxes by resolutions adopted by the City and the County, acting through their duly elected Council and Commission, respectively, which resolutions delegate to the Board the authority to accept the In Lieu Payments upon compliance with certain terms and conditions, including, without limitation, the requirement that the Board collect and expend such payments in furtherance of the public purposes for which the Board was created; and WHEREAS, Wrigley and the Board have agreed that all In Lieu Payments made to the Board by Wrigley shall be paid to the Trustee, who shall disburse such amounts to the general funds of the City and the County in accordance with the requirements specified herein; and 2778861 3.DOC

2

WHEREAS, the Board wishes to designate the Assessor its agent to appraise the Property and assess a percentage of its value, under certain circumstances, in the manner specified herein; and WHEREAS, the Board wishes to designate the Trustee its agent to receive the In Lieu Payments in accordance with the terms of this Agreement; NOW, THEREFORE, IN CONSIDERATION OF the mutual covenants and agreements set forth herein, the parties hereto agree as follows: 1. Designation of Assessor: Appraisal and Assessment of Property. The Board hereby designates the Assessor as its agent to appraise and assess the Property. The Assessor shall appraise and assess the Property in accordance with the Constitution and laws of the State of Tennessee as though the Property were subject to property taxes, but shall not, in accordance with Section 10 of this Agreement, create a leasehold assessment for the Property so long as the Board owns the Property. The Assessor shall give the Trustee, the City Treasurer, the Board, and Wrigley notice of any changes in appraisals of the Property in the same manner that notices are given to owners of taxable property. The Assessor shall make available to the Board and Wrigley all records relating to the appraisal and assessment of the Property. 2. Designation of Trustee: Computation and Billing of Payments In Lieu of Taxes. The Board hereby designates the Trustee its agent to compute the amounts of the In Lieu Payments, to receive such payments from Wrigley and to disburse such payments to the City and the County. On or about October 1st of said year, the Trustee shall compute the taxes which would be payable on the Property if it were subject to property taxes, in accordance with the Constitution and laws of the State of Tennessee and in accordance with the appraisal and

27788
3

assessment of the Assessor. Each year hereunder, the Trustee shall, not later than December 31, send the Board and Wrigley a bill for appropriate amounts of In Lieu Payments (the "Tax Bill"). 3. Payments in Lieu of Taxes. After receipt of the Tax Bill but no later than March 1 of the year following the year to which the Tax Bill pertains, Wrigley shall pay to the Trustee the amounts indicated on the Tax Bill in accordance with the amount set forth below in Paragraph 4. The In Lieu Payments shall be made by Wrigley in lieu of the property taxes which would otherwise be payable on the property if it were subject to property taxes. 4. Amount of Payments by Wrigley. For any period hereunder occurring before January 1, 2007 or after December 31, 2018, with respect to the real and personal property described in Exhibit A”, and, in each case, during which the Property is owned by the Board, Wrigley shall make In Lieu Payments in an amount, as determined by the Assessor and the Trustee, equal to the taxes that would have been payable on the Property if it were subject to property taxes. With respect to that portion of the Property as described in Exhibit “A” that constitutes the “Project” (being the newly acquired personal property in connection with its 2005-2008 expansion and the 2006 expansion to its manufacturing building), Wrigley shall make In Lieu Payments in an amount equal to the following percentages of the taxes that would have been payable on the Property if it were subject to property taxes for the respective years indicated: Percentage

Years

2778861_3.DOC

2007

0%

2008

25%

2009

40%

2010-2018

50%

4

With respect to the portion of Property other than what is described above as the “Project,” Wrigley shall make In Lieu Payments for the years 2007-2018 in an amount equal to the taxes that would have been payable on said portion of the Property if it were subject to property taxes. 5.

Penalties and Late Charges. Wrigley shall make the In Lieu Payments for each year

before March 1 of the following year. All In Lieu Payments shall be subject to penalties, late charges, fees and interest charges as follows: (a) If Wrigley fails to make any In Lieu Payment when due, and such failure to pay shall continue and not be fully paid within thirty (30) days after written notice of such non-payment has been provided, then a late charge shall be charged and shall also be immediately due and payable. The late charge shall be in the amount of one and one-half percent (1-1/2%) of the owed amount, for each month that each payment has been unpaid. Such one and one-half percent (1-1/2%) per month late charge amount shall accumulate each month and be payable so long as there remains any outstanding unpaid amount. (b)

If Wrigley should fail to pay all amounts and late charges due as provided

hereinabove, then Hie Board, the City or the County must, in order to enforce a lien against the Property as contemplated in Paragraph 8, bring suit in the Chancery Court of Hamilton County to recover the In Lieu Payments due, late charges, expenses and costs of collection in addition to reasonable attorneys' fees. If Wrigley fails to achieve the Investment and Jobs Projections, then the City and the County reserve the right, after providing to Wrigley written notice and an opportunity to cure, to terminate the benefits of this Agreement for any years remaining hereunder. If Wrigley closes the Project for twelve (12) months or longer or moves it from the County during the term hereof, the City and the County reserve the right to require the partial 2778861 3.DOC

5

repayment of amounts that would have been payable on the Property if it were subject to property taxes less all In Lieu Payments actually paid. Such repayment requirement, if implemented, shall be proportionate to the time period during the term during which the Project was closed or relocated. 6. Disbursements bv Trustee. All sums received by the Trustee pursuant to Paragraph 3 shall be disbursed to the general funds of Hie City and the County in accordance with this paragraph and in accordance with the normal requirements of law governing the settlement and paying over of taxes to counties and municipalities. All sums received shall be divided into two (2) accounts, one for the use and benefit of the City and the other for the use and benefit of the County. The account for the use and benefit of the City shall be funded with the proportionate amount to which the In Lieu Payments are attributable to property taxes which would otherwise be owed to the City, and the account for the use and benefit of the County shall be funded with the proportionate amount to which the In Lieu Payments are attributable to property taxes which would otherwise be owed to the County. All disbursements to the general funds of the City and County shall be made by the Trustee subject to the requirement that all funds disbursed may be used by the City and the County only in furtherance of the public purposes of the Board, as described in Tennessee Code Annotated, § 7-53-102. 7.

Contest bv Wrigley.

Wrigley shall have the right to contest the appraisal or

assessment of the Property by the Assessor and the computation by the Trustee of the amount of the In Lieu Payment. If Wrigley contests any such appraisal or assessment, then it shall present evidence to the Assessor in favor of its position.

Likewise, if Wrigley contests any such

computation, it shall present evidence to the Trustee in favor of its position. If the In Lieu Payments being contested shall be or become due and payable, Wrigley shall make such 2778861 3.DOC

6

payments under protest. Wrigley and the Assessor or the Trustee, as the case may be, shall negotiate in good faith and with best efforts to resolve within sixty (60) days any disputes as to appraisal, assessment or computation. If Wrigley and the Assessor or the Trustee are unable to resolve a dispute within such sixty (60) day period (as such period may be extended by the mutual written agreement of the parties), then Wrigley may file suit in the Chancery Court of Hamilton County to aslc that the provisions of this Agreement, including those covering appraisal, assessment and computation, be construed or applied to the relevant facts by the Chancery Court in order to resolve such dispute. If a court of competent and final jurisdiction finds in favor of Wrigley and such judgment results in a lower appraisal, assessment or computation, Wrigley shall be entitled to a refund of In Lieu Payments as appropriate under the circumstances, with interest paid on such refund as if such refund were a refund of property taxes, in accordance with the Constitution, the laws of the State of Tennessee and any applicable local ordinances. If such a refund, including interest, is owed to Wrigley, Wrigley, at its option, may elect to forego the refund and take a credit in the amount of the refund (plus interest) against the next subsequent In Lieu payment due. 8.

Lien on Property and Right of Redemption. Any amounts which remain payable

under this Agreement shall become a lien on the Property, and such lien shall be enforceable against the Property in the event that (i) there has been a judicial finding by a court of competent and final jurisdiction in accordance with Section 5(b) of this Agreement that such payment is owed and has not been timely made in accordance with this Agreement; and (ii) a court of competent and final jurisdiction has issued a ruling allowing for such enforcement of the lien against the Property. The City, County, Trustee and Assessor acknowledge and agree that if a lien is enforced against the Property in accordance with this Section, Wrigley or the Board, as the 2778861 3.DOC

7

case may be, shall be re-vested with title to the Property affected by the lien if Wrigley repays the amount of the lien plus 10% interest no later than one (1) year from the date such lien is enforced. 9. Term. This Agreement shall become effective on the date that the Board attains title to the Property and shall continue for so long as the Board holds title to any of the Property or Wrigley has made all payments required hereunder, whichever shall later occur. 10.

Leasehold Taxation.

The parties hereto acknowledge and agree that the

acquisition by Wrigley of a leasehold interest in the Property as is contemplated by this Agreement is not appropriate for the creation of a leasehold assessment in accordance with the Constitution, the laws of Tennessee and any applicable local ordinances. If the leasehold interest of Wrigley should be subject to ad valorem taxation, then any amounts assessed as taxes thereon shall be credited against any In Lieu Payments due hereunder or, if no such In Lieu Payments are due, then Wrigley shall be entitled to a refund of any prior In Lieu Payments paid in an amount equal to the ad valorem taxation due attributable to such leasehold assessment. 11. Notices, etc. All notices and other communications provided for hereunder shall be written (including facsimile transmission and telex), and mailed or sent via facsimile transmission or delivered, if to the City, c/o Mr. Randall L. Nelson, Suite 400, Pioneer Building, Chattanooga, Tennessee 37402; if to the County, Mr. Rheubin M. Taylor, County Attorney, Hamilton County Government, Room 204, County Courthouse, Chattanooga, Tennessee 37402; if to the Board, c/o Mr. Ross I. Schram III, Spears, Moore, Rebman & Williams, Suite 600 Pioneer Building, Chattanooga, Tennessee 37402; if to Wrigley, c/o Wm. Wrigley Jr. Company, Attention: General Counsel, 410 N. Michigan Avenue, Chicago, Illinois 60611, with copies to Scott Saef, Sidley Austin LLP, One South Dearborn, Chicago, Illinois 60603 and Alfred E. 2778861 3.DOC

8

Smith, Jr., Miller & Martin PLLC, Suite 1000 Volunteer Building, 832 Georgia Avenue, Chattanooga, Tennessee 37402; if to the Trustee, at his address at Hamilton County Courthouse, Chattanooga, Tennessee 37402; and if to the Assessor, at his address at Hamilton County Courthouse, Chattanooga, Tennessee 37402; or, as to each party, at such other address as shall be designated by such party in a written notice to the other party.

All such notices and

communications shall, when mailed by registered and certified mail, return receipt requested, or facsimile, be effective when deposited in the mails or if sent upon facsimile transmission, confirmed electronically, respectively, addressed as aforesaid. 12. No Waiver: Remedies. No failure on the part of any party hereto, and no delay in exercising any right under this Agreement shall operate as a waiver thereof; nor shall any single or partial exercise of any right under this Agreement preclude any other or further exercise thereof or the exercise of any other right.

The remedies provided in this Agreement are

cumulative and are not exclusive of any remedies provided by law. 13. Severability. In the event that any clause or provision of this Agreement shall be held to be invalid by any court or jurisdiction, the invalidity of any such clause or provision shall not affect any of the remaining provisions of this Agreement. 14.

No Liability of Board's Officers. No recourse under or upon any obligation,

covenant or agreement contained in this Agreement shall be had against any incorporator, member, director or officer, as such, of the Board, whether past, present or future, either directly or through the Board. Any and all personal liability of every nature, whether at common law or in equity, or by statute or by constitution or otherwise, of any such incorporator, member, director or officer, as such, is hereby expressly waived and released as a condition of and consideration for the execution of this Agreement. 2778861 3.DOC

9

15. Binding Effect. This Agreement shall be binding upon and inure to the benefit of each of the parties and signatories hereto and to their respective successors and assigns. 16.

Governing Law.

The Agreement shall be governed by, and construed

in

accordance with, the laws of the State of Tennessee. 17.

Amendments. This Agreement may be amended only

of the parties hereto, except that the Trustee and the Assessor shall

in writing, signed by each not be required to join in

amendments unless such amendments affect their respective duties hereunder. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and date first above written.

HAMILT0NÆOUNTY, TENNESSEE HAMILT) Colini County Mayor

2778861_3.DOC

10

CARL E. LEVI

WILLIAM C. BENNETT Bv.0 ^ c £ É t t i L ~ — ■C * Hamilton County Assessor of Property

2778861 3.DOC

11

(/£

EXHIBIT "A" TO PILOT AGREEMENT FOR WRIGLEY MANUFACTURING COMPANY. LLC REAL PROPERTY IN THE CITY OF CHATTANOOGA, HAMILTON COUNTY, TENNESSEE; A tract or parcel of land at or near Chickamauga, particularly described as follows; BEGINNING at a PK nail in the centerline of Jersey Pike, said nail also being in the Northwest comer of 19.51 acre tract of land conveyed to Red Warehouse Realty, Inc., by the Grantor, by Deed dated October 24, 1968; thence North 23 degrees 22 minutes East, along said centerline of Jersey Pike a distance of seventy-nine and five-tenths (79.5) feet to a PK nail; thence North 23 degrees 49 minutes East continuing along said centerline of Jersey Pike four hundred ninety-nine and forty-two hundredths (499.42) feet to a nail, said nail being in the Southwest comer of a twelve and forty eight hundredths (12.48) acres tract of land conveyed to Century Co., Inc., by the Tennessee Property Co., by Deed dated April 25, 1961; thence South 89 degrees 48 minutes East along the property line between the Grantor and Century Co., Inc., a distance of one thousand eighty-eight and seventy-seven hundredths (1088.77) feet, to an iron pipe in the West line of a sixty (60) foot future road, thence South 5 degrees 59 minutes East along the West line of said sixty (60) foot future road, a distance of five hundred seventy-two and fifteen hundredths (572.15) feet, to a concrete monument in the Northeast comer of said tract of land conveyed to Red Warehouse Realty, Inc.; thence North 88 degrees 13 minutes West along the North line of said tract of land conveyed to Red Warehouse Realty, Inc., a distance of thirteen hundred eighty-two and thirtythree hundredths (1382.33) feet to the point of beginning, containing fifteen and six hundred twenty-nine thousandths (15.629) acres, more or less, and being the same land conveyed to Grantor herein by the Kraft Foods Global, Inc., a Delaware corporation in Deed dated June 26, 2005, recorded in Book 7591, page 51, in the Register’s Office of Hamilton County, Tennessee. Description is the same as prior deed.

2778861 3.DOC

12

EXHIBIT “A” (CONTINUED") PERSONAL PROPERTY All o f the personal property acquired by the Company in connection with the 2005-2008 expansion o f its manufacturing plant located on the real property described above, including but not limited to the items listed below (the Company may update this list from time to time and, in doing so, may provide supplements to its Bill o f Sale)

11014224 11014225 11014226 11014227 11014228 11014229 11014230 11014231 11014232 11014233 1.1014234 11014235 11014236 11014237 11014238 11014239 11014240 11014241 11014242 11014243 11014244 11014245 11014246 11014247 11014248 11014249 11014250 11014251 11014252 11014253 11014254 11014255 11014256 11014257 11014258 11014259 11014260 11014261 11014262 11014263

CHI 3689574v.3

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11014264 11014265 11014266 11014267 11014268 11014269 11014270 11014271 11014272 11014273 11014274 11014275 11014276 11014277 11014278 11014279 11014280 11014281 11014282 11014283 11014284 11014285 11014286 11014287 11014288 11014289 11014290 11014291 11014292 11014293 11014294 11014295 11014296 11014297 11014298 11014299 11014300 11014301 11014302 11014303 11014304 11014305 11014306 11014307 11014308 11014309 11014310 11014311 11014312 11014313

#00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300 #00606200300

SAFELINE METAL DETECTOR LINE 3 WINKWORTH PASTE MIXER RT80 LINE 4 HOUNSELL PASTE PUNCH/CONVEYOR LINE 4 QUALITY PASTE TRIM CONVEYOR LINE 4 QUALITECH CRUSTING TUNNEL CONVEYOR LINE 4 SAFELINE METAL DETECTOR LINE 4 STAINLESS STEEL ROLLING RACKS YAMATO MULTIHEAD HIGH SPEED SCALE LINE 2 OSGOOD TIN FILLER LINE 2 KALFASS UNIVERSAL 5050 TIN TRAY FLOW WRAPPER LINE IMAJE 1000 INK JET PRINTER LINE 2 ISHIDA TINS CHECKWEIGHER LINE 2 FUJI TIN FLOW WRAPPER LINE 2 CAM PAK NCX TIN TRAY PACKER LINE 3 KALFASS UNIVERSAL 5050 TIN TRAY FLOW WRAPPER LINE IMAJE 1000 INKJET CODER LINE 3 ISHIDA TINS CHECKWEIGHER LINE 4 OSGODD TIN FILLER LINE 4 OSGOOD TROUGH WITH CONTROLLER LINE 4 CAM PAK TIN TRAY PACKER LINE 4 IMAJE 1000 INK JET CODER LINE 4 IMAJE 1000 INK JET CODER LINE 4 Tin Conveyor 2 Line 4 FUJI FLOWRAPPER LINE 1 IMAJE INKJET PRINTER FLOWMETER CONVERTERS BATCH CONTROL FLOW METER LINE 1 BATCH CONTROL FLOW METER LINE 2 BATCH CONTROL FLOW METER LINE 3 BATCH CONTROL FLOW METER LINE 4 PASTE SHEETER LINE 2 PASTE SHEETER CONVEYOR LINE 2 WINKWORTH XF150 PASTE EXTRUDER/FEEDER LINE 3 WINKWORTH XF150 PASTE EXTRUDER/FEEDER LINE 4 ALTOIDS TWIN PACK SYSTEM "Leider Line ""A"" Tin Filler" "Leider Line ""B'mTin Filler" "Leider Line Tin Filler (Conversion)" Paste Twinpack Casepacker (Bd 281) Sours Candy Breaking / Tumble Drum Sours Kneader "Sours CAM ""A"" Traypacker" ’'Sours CAM ""A"" Modifications" "Sours CAM ""B,mTraypacker" "Sours CAM ""B"" Modifications" Sours Coating Drum #1 Sours Coating Drum #2 Sours Coating Drum #3 Sours Coating Drum #4 Spirak Syrup Mixer

2 CHI 3689574v.3

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"Dico Line ,mA"" Lidding System" "Dico Line ""B"" Lidding System" Lidding Machine Change Part A and B Refurbish Kalfass 5050 Tunnel "Kalfass Unviersal Tunnel ,,,,B,m” "Kalfass Universal Tunnel ,,HA... Automatic Sours Batch Cooker Solvomat Sugar and Glucose Blending System Syrup Batch Tank Sours Tumbler Drum Conveying System Sours Tumber Unload Conveyor for Totes (Quality) Sours Die Roller Sours Laminator Altoid Heart Cutters Pneumatic Conveyor System Line B Pneumatic Conveyor System Line A Sours Tin Conveyor to Tray Packer Alts to Sours Tin Conveyors Tin Sleever Line A Tin Sleever Line B Sours A Checkweigher Ishida Sours B Checkweigher Ishida Sours Conveying Yamato Scale Sours Line A Sours Flow Meter Sours Flow Meter Dehumidification Paste Line 2 Munters Dehumidification Paste Line 3 Munters Dehumidification Paste Line 4 Munters Hand Pallet Truck-Vertopal Hand Pallet Truck- Vertopal Hand Pallet Truck- Lancing Sours Case Sealing Machine Paste Sheeter Line 1 Paste Sheeter Line 3 Paste Sheeter Line 4 Sours Twinpack Casepacker Brunley Heat Tunnel Paste Line 1 Sours Redpack Twinpack Sours Twin Convey System Sours Pan Dust Collection System Copper Pot Batch Transfer Unit Osgood Tin Filler Paste Line 1 Cooker Twin Coil Fuji Flowwrapper Line 1 Imaje Coder Sours A Imaje Coder Sours B Sours Processing Quality Conveyor System Sours Processing Quality Conveyors Imaje Code Dater (TwinPacker)

3 CHI 3689574v.3

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Imaje Code Dater (TwinPacker) Imaje Code Dater (Sours Casepacker) Sours Auto T raypacker Nederman Hose Reel Water Gun System Zebra 220 Thermal Label Printer Case Sealing System Sours Scada System Conair Churchill Tkerm Unit Conair Churchill Tkerm Unit Spare Parts Storage Bins Soco T10 Case Sealer (700) Blue WIP Boxes & Lids Sours Processing DICO Platform Sauven Date Coder Matisse Sours Process PLC ME708B Flvr / Color Mixer GE Analytical Balance Clr/Flvr Dishwasher Sours Clr/Flvr Checkweigher Line 1 Paste Checkweigher Checkweigher Refrigerator - Front Breakroom Refrigerator Stainless Steel Main Ice Machine and Dispenser Folding Tables Almond Color (4 items) Folding Tables 6 Ft Almond (12 items) Folding Tables 8 Ft Almond (4 items) Folding Chairs (96 items) Folding Chairs (4 items) Flagpoles (2 items) Flagpole Existing Breakroom Door Breakroom Modification Powerheart AED Powerheart AED Powerheart AED Powerheart AED Fuel Boiler #2 Backup Line Overhead DH & OA Capacity Roil Wrapper - Cremesavers Piece Size Change Project Turtle Chocolate Covered Altoids - US Replace Wrappers Lines 1 & 2 Altoids Mints Replace Line 7 Doboy Wrapper Relocation to Chattanooga AED's 4 items Equipment from Bridgend to Chattanooga

4 CHI 3689574v.3

Cost Versus Benefit Analysis for Payment In Lieu of Ad Valorem Tax Date

rDecëmbgr,19,2006,1

^MerfeUìBénnett^^^i:

Person Completing Form: Title:

Lessor (¿#ÿlddüstnàl;Dëyeloi3rrient B6ardi,Qf;Hàrriilt:6n Gounty

Calculation Summary:

Lessee

I FactoryManager

Wrigley.-MapLifacturing eompanyy:LLC.

Additional comments and information about costs or benefits associated with the project may be attached.

Total of New and Indirect Jobs

346

Total of Direct and Indirect income

$14,700,000

I First Year PILOT Payment County: First Year PILOT Payment City: | Total First Year PILOT:

Total of New Annual State Sales Tax and New Annual Local Sales Tax

$1,135,325

I

Market Value of Leased Real Property Improvements

$5,000,000, ••

Market Value of Leased Machinery & Equipment

$18,000;000;

Market Value of Leased Land

Total Appraised Value: Total Assessed Value:

Note 1

: V' 1 I

To be completed by Comptroller o f Treasury

$0i $23,000,000 $7,400,000

Economic factors and multipliers provided by University of Tennessee for Business and Economic Research, 2006

$0 $0 $0

Cost Versus Benefit Analysis for Payment In Lieu of Ad Valorem Tax Date

Title:

Lease I Term |

Term Beginning Date

January 1, 2007

150

X

Step 1

Number of New Jobs

I Total Term | Ending Date

December 31,2018

$ 49,000.00 Annual Company Wage g g '.

Step 2

$

*

7,350,000.00

$37,556

=

$ 7,350,000.00 x|

=

Direct Income ' ? ; sÎÉ""! 196 Number Indirect Jobs

f

y

See Note 1

Indirect Income

g

2.0 See Note 1

■«si -.„„u:

Step 3

$

14,700,000.00

X

Direct & Indirect Income

=

0.096

|= $ 14,700,000.00 I Direct & Indirect Income |

^ìSJSÉSHSÈÈy 889,056.00 1x10.277 $246,268.51 See New Annual New Annual State Note Local Sales 1 Sales Tax | 1 Tax

”1 $ 1,411,200.00 x 1 0.63 M $ New Total Annual State Tax

See Note 1

See N o te l

Additional comments and information about costs or benefits associated with the project may be attached.

Calculation Summary:

346

Total of New and Indirect Jobs Total of Direct and Indirect Income

Total Assessed Value:

Note 1



¡Factory Manager

Wrigley Manufacturing Company, LLC

Lessee

Industriai Development Board of Hamilton County

Lessor

Merrell Bennett

Person Completing Form:

I December 19, 20061

I

$14,700,000

First Year PILOT Payment County: First Year PILOT Payment City: | Total First Year PILOT:

$7,400,000

Economic factors and multipliers provided by University of Tennessee for Business and Economic Research, 2006

$0 $0 $0

r-ittefrs