HomeMy WebLinkAbout16678 1 RESOLUTION NO. 16,678
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3 A RESOLUTION TO CERTIFY LOCAL GOVERNMENT ENDORSEMENT
4 OF HEADLANDS TECH HOLDINGS, LLC, LOCATED AT 15900
5 ARKANSAS SYSTEMS DRIVE, LITTLE ROCK, AR, 72223, TO
6 PARTICIPATE IN THE ARKANSAS TAX BACK PROGRAM, AS
7 AUTHORIZED BY ARK. CODE ANN. § 15-4-2706(D) OF THE
8 CONSOLIDATED INCENTIVE ACT OF 2003; AND FOR OTHER
9 PURPOSES.
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11 WHEREAS, the regulations of the Arkansas Tax Back Program (the "ATBP") require local
12 government endorsement of businesses or enterprises that wish to participate in and take advantage of the
13 program; and,
14 WHEREAS,Arkansas Tech Systems,LLC is a wholly owned subsidiary of Headlands Tech Holdings,
15 LLC; and,
16 WHEREAS,Headlands Tech Holdings, LLC, wishes to participate in the program, to purchase and
17 renovate an end-of-life data center for Arkansas Tech Systems, LLC, and to operate a state of the art
18 supercomputer data center,equipped with energy efficient updates; and,
19 WHEREAS,Headlands Tech Holdings,LLC has been declared by the management of the ATBP to be
20 an appropriate applicant to benefit from the features of the program in its creation of five(5)new jobs and
21 a total investment of at least One Hundred Twenty Million Dollars($120,000,000.00);and,
22 WHEREAS,Headlands Tech Holdings,LLC, has agreed to furnish the management of the ATBP all
23 information necessary to ensure compliance with the terms and conditions of the program.
24 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
25 OF LITTLE ROCK,ARKANSAS;
26 Section 1.The City of Little Rock(the"City")endorses Headlands Tech Holdings,LLC,and the Mayor
27 with the City Clerk's attestation, is authorized to execute any required Certificate of Local Government
28 Endorsement of Headlands Tech Holdings, LLC, to participate in the ATBP and to be eligible to benefit
29 from any refunds and tax credits including City Gross Receipts and Compensating Use Tax Credits, in
30 accordance with the regulations of the ATBP.
31 Section 2.To the extent the City is authorized to grant such authority the Department of Finance and
32 Administration is authorized to refund any City Sales and Compensating Tax Credits collected from
33 Headlands Tech Holdings,LLC, in accordance with the regulations of the ATBP.
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1 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
2 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
3 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
4 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
5 resolution.
6 Section 4.Repealer. All laws, ordinances, resolutions, or parts of the same, that are inconsistent with
7 the provisions of this resolution,are hereby repealed to the extent of such inconsistency.
8 ADOPTED: May 6,2025
9 ATTEST: APPROVED:
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12C_
13 Allison Segars,Ci k Frank Scott, ., ayor
14 APPROVED AS TO LEGAL FORM:
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4(
16 G142A4 W I -
17 Thomas M. Carpenter,City Att ney
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