Title
Termination of the Diebold Nixdorf, Inc. Job Creation Agreement
Brief Description: Diebold Nixdorf, Inc, Job Creation Agreement - Motion authorizing the City Manager to terminate the Diebold Nixdorf, Inc. Job Creation Grant Agreement dated January 5, 2021 pursuant to Section 11(D) and directing written notification to be forward to the company.
Body
Legislative History
Resolution 20-144 authorizing the execution of the Job Creation Grant Agreement with Diebold Nixdorf, Inc. dated November 11, 2020.
Purpose & Explanation
The City entered into a Job Creation Grant Agreement with Diebold Nixdorf, Inc. in January 2021 for their headquarters relocation to 50 Executive Parkway. As part of the company’s bankruptcy proceedings, the entity vacated the building in January 2024. Pursuant to Section 11(D) of the agreement, the City may move to terminate the agreement in the event the entity vacates the project facility.
Timing Considerations
None.
Fiscal Impact
Currently Budgeted (Account #, $)
Supplemental Appropriation Required (Account #, $)
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends City Council make a Motion authorizing the City Manager or the City Manager’s designee to terminate the Diebold Nixdorf, Inc. Job Creation Grant Agreement dated January 5, 2021 pursuant to Section 11(D).
Submitted by,
Thomas J. Sheridan, City Manager
Greg Hannan, Community Development Director
Katie Behnke, Economic Development Manager