HomeMy WebLinkAbout17009 1 RESOLUTION NO. 17,009
2
3 A RESOLUTION TO AMEND THE CITY OF LITTLE ROCK, ARK.
4 RESOLUTION NO. 16,678 (MAY 6, 2025) TO REFLECT A CHANGE IN
5 THE NAME OF THE PARTICIPATING ENTITY FOR THE ARKANSAS
6 TAX BACK PROGRAM FROM HEADLANDS TECH HOLDINGS, LLC,
7 TO ARKANSAS TECH SYSTEMS, LLC LOCATED AT 15900 ARKANSAS
8 SYSTEMS DRIVE,LITTLE ROCK,AR,72223,AS THE PARTICIPANT IN
9 THE ARKANSAS TAX BACK PROGRAM, AS AUTHORIZED BY ARK.
10 CODE ANN. § 15-4-2706(D) OF THE CONSOLIDATED INCENTIVE ACT
11 OF 2003; AND FOR OTHER PURPOSES.
12
13 WHEREAS, the regulations of the Arkansas Tax Back Program (the "ATBP") require local
14 government endorsement of businesses or enterprises that wish to participate in and take advantage of the
15 program; and,
16 WHEREAS,Arkansas Tech Systems,LLC is a wholly owned subsidiary of Headlands Tech Holdings,
17 LLC; and,
18 WHEREAS, Headlands Tech Holdings, LLC originally sought to participate in the ATBP to purchase
19 and renovate an end-of-life data center for Arkansas Tech Systems, LLC, and to operate a state-of-the-art
20 supercomputer data center equipped with energy-efficient updates; and,
21 WHEREAS, Headlands Tech Holdings,LLC has changed their entity structure,so the corporate name
22 is now"Arkansas Tech Systems, LLC"(their subsidiary);
23 WHEREAS, the name change has been duly filed with and recognized by the appropriate state
24 authorities, and does not alter the ownership or obligations of the participating entity under the Arkansas
25 Tax Back Program;and,
26 WHEREAS,the project remains unchanged in scope, including the creation of five (5) new jobs and
27 a total investment of at least One Hundred Twenty Million Dollars($120,000,000.00); and,
28 WHEREAS, the management of ATBP has determined that Arkansas Tech Systems, LLC is an
29 appropriate applicant to receive the benefits of the program;and,
30 WHEREAS, Arkansas Tech Systems LLC has agreed to furnish the management of the ATBP all
31 information necessary to ensure compliance with the terms and conditions of the program.
32 NOW,THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
33 OF LITTLE ROCK,ARKANSAS;
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1 Section 1.The City of Little Rock(the"City")hereby amends Little Rock,Ark.Resolution No. 16,678
2 (May 6, 2025)to substitute the name Arkansas Tech Systems, LLC in place of Headlands Tech Holdings,
3 LLC as the endorsed participant in the Arkansas Tax Back Program.
4 Section 2.The City hereby endorses Arkansas Tech Systems,LLC,and the Mayor,with the City Clerk
5 and City Manager's attestation, are authorized to execute any required Certificate of Local Government
6 Endorsement for Arkansas Tech Systems,LLC to participate in the ATBP and to be eligible to benefit from
7 any refunds and tax credits, including City Gross Receipts and Compensating Use Tax Credits, in
8 accordance with the regulations of the ATBP.
9 Section 3.To the extent the City is authorized to grant such authority, the Department of Finance and
10 Administration is authorized to refund any City Sales and Compensating Use Tax Credits collected from
11 Arkansas Tech Systems,LLC in accordance with the regulations of the ATBP.
12 Section 4. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or
13 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or
14 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and
15 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the
16 resolution.
17 Section 5.Repealer. All laws, ordinances, resolutions, or parts of the same,that are inconsistent with
18 the provisions of this resolution,including but not limited to Little Rock,Ark.,Resolution No. 16,678(May
19 6,2025), are hereby repealed to the extent of such inconsistency.
20 ADOPTED:April 7,2026
21 ATTEST: APPROVED:
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25 Allison Segars,City Cle Frank Scott,Jr.,Mayor
26 APPROVED AS TO LEGAL FORM:
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29 141/1(.4 M•
30 Thomas M.Carpenter,City Att ey
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