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Beierwaltes to Get $2.5 Million of City Tax Dollars Despite losing a lawsuit to Loveland over a failed business incentive and refusing to pay the total court judgement |
WHEREAS, Colorado vNet has requested from the City certain economic incentives to help defray some of Colorado vNet's costs to remodel and relocate to the New Facility in Loveland; and WHEREAS, Colorado vNet has therefore asked the City to pay to Colorado vNet, in accordance with the terms and conditions of this Agreement, up to nine hundred thousand dollars ($900,000.00) to be used by Colorado vNet to help pay for some of its estimated costs to remodel and to relocate to the New Facility; and WHEREAS, on March 4, 2008, the City Council approved this Agreement in Resolution #R-23-2008 on the condition that the Beierwaltes guarantee the full performance of Colorado vNet's obligations under this Agreement; and WHEREAS, the Beierwaltes, as the controlling principals of Colorado vNet, are willing to guarantee these obligations; |
William Beierwaltes (center) |
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