County Commission Regular Meeting
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Dora Dominguez, Business Development
Request for a Motion to Approve Project Participation Agreement between Sandoval County and Ex Novo Brewing LLC.
Why Action Is Necessary (Summary):
The County has adopted the Project Ordinance finding that the Project Party is a qualifying entity as defined in LEDA and approving this Project Participation Agreement (this “Agreement”) as meeting the requirements of LEDA. The Project Participation Agreement (PPA) details the terms of the agreement for reimbursement of eligible expenses and set job creation.
Ex Novo Brewing LLC is requesting approval of $100,000 in Local Economic Development Act funds. These would be $100,000 County Local Economic Development Act Funds. The County would serve as the Fiscal Agent for the funds. The funds will support the new construction of a 10,000 square foot manufacturing and distribution operation in Corrales, NM. The production brewery operation represents an expansion operation for the company, which has been in operation in Portland, OR for the past five years.
Recommend for Approval
As to Form
ExNovo PPA County Final
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