Item Coversheet

Spotsylvania County
Board of Supervisors Agenda
Executive Summary




Meeting Date:
AprilĀ 9, 2019
Title:
Approval of Second Amendment to HDT Expenditionary Systems Performance Agreement

Type:
Action
Agenda Title:
Approval of Second Amendment to HDT Expeditionary Systems Performance Agreement
Recommendation:
Staff recommends approval of the Second Amendment to HDT Expeditionary Systems Performance Agreement.
Non-Staff Name and Title of Presenters:

This is a request to approve a Second Amendment to HDT Expeditionary Systems Performance Agreement to include Hunter Defense Technologies as a party to the Performance Agreement and to allow Hunter to meet the requirements of the Agreement together with HDT—as HDT is wholly-owned by Hunter allowing HDT and Hunter to be in compliance with the Performance Agreement.

Summary:

The County, Economic Development Authority ("Authority") and HDT Expeditionary Systems ("HDT") entered into a Performance Agreement dated January 26, 2017 for the provision of certain economic development incentive grants to HDT.  The County, Authority, and HDT amended the Performance Agreement dated January 26, 2017 by executing the First Amendment to the Performance Agreement dated March 29, 2018.

 

The County, the Authority, and HDT request to further amend the Performance Agreement to allow Hunter Defense Technologies ("Hunter") together with HDT, as HDT is wholly-owned by Hunter, allowing HDT and Hunter to be in compliance with the assigned Performance Agreement. 

Committee/Commission Summary:
Economic Development Authority
Review Date:
March 28, 2019
Status:Approved
Financial Impact:
N/A
Staff Contacts:
Tom Rumora, Director, Department of Economic Development and Tourism
Legal Counsel:
Karl Holsten-County Attorney; Brendan Hefty-EDA General Counsel
Additional Background/Other Considerations:
N/A
Consequence of Denial/Inaction:

If the request is denied, Hunter Defense Technologies would not be in compliance with assigned Agreement since Hunter will need to be the entity paying the employees for whom incentives apply and will need to be entity paying applied taxes.

Talking Points:

This is a request to approve a Second Amendment to HDT Expeditionary Systems Performance Agreement to include Hunter Defense Technologies as a party to the Performance Agreement and to allow Hunter to meet the requirements of the Agreement together with HDT—as HDT is wholly-owned by Hunter allowing HDT and Hunter to be in compliance with the Performance Agreement.


ATTACHMENTS:
File NameDescriptionType
HDT_Agreement_Second_Amendment_3_28_19.pdfSecond Amendment to HDT Performance AgreementAgreement