Vote: approved

Item Text

30. INTERNATIONAL GENOMICS CONSORTIUM EXTENSION REQUEST Authorize and approve a one-time 90 (ninety) day extension for International Genomics Consortium (IGC) to remit their assessment of IGC’s impact in Maricopa County as well as a plan to augment, lessen or eliminate the future funding from Maricopa County in compliance with the Agreements, Item 3 (Amendment of Section 5 – County Funding Commitment), and Item 4 (Amendment of Section 6 – Prerequisites to Disbursement of County Funding) pursuant to the Third Amendment to Economic Development Funding Agreement (C-18-03-008-1-03), as approved by the Board of Supervisors on June 7, 2017. If the 90-day one-time extension is not granted, IGC will be in violation of the terms and conditions of the IGA. Except for the 90-day one-time extension, there are no other exceptions to the IGA. IGC has requested the 90-day extension as their audited financial statements have been delayed due to COVID-19. IGC’s auditors had been rescheduled to perform field work in April 2020, with an anticipated financial statement issuance date of June 30, 2020, or approximately 90 days after the due date (April 1st) required per the IGA. The County provides financial assistance to IGC for the purposes of establishing a scientific research/educational campus in Maricopa County and advancing the economic development goals of the County. (C-18-03-008-1-04)

Attachments (2)

Vote — approved

Thomas Galvin	yes
Steve Gallardo	yes
Jack Sellers	yes
Bill Gates	yes
Clint Hickman	yes

43.INTERNATIONAL GENOMICS CONSORTIUM EXTENSION REQUEST Authorize and approve a one-time 90 (ninety) day extension for International Genomics Consortium (IGC) to remit their audited financial statement in compliance with the Maricopa County Economic Development Funding Agreement, Section 7 item (g) and their assessment of IGC’s impact in Maricopa County as well as a plan to augment, lessen or eliminate the future funding from Maricopa County in compliance with the Agreements, Item 3 (Amendment of

Item Text

43. INTERNATIONAL GENOMICS CONSORTIUM EXTENSION REQUEST Authorize and approve a one-time 90 (ninety) day extension for International Genomics Consortium (IGC) to remit their audited financial statement in compliance with the Maricopa County Economic Development Funding Agreement, Section 7 item (g) and their assessment of IGC’s impact in Maricopa County as well as a plan to augment, lessen or eliminate the future funding from Maricopa County in compliance with the Agreements, Item 3 (Amendment of Section 5 – County Funding Commitment), and Item 4 (Amendment of Section 6 – Prerequisites to Disbursement of County Funding) pursuant to the Third Amendment to Economic Development Funding Agreement (C-18-03-008-1-03), as approved by the Board of Supervisors on June 7, 2017. If the 90-day one-time extension is not granted, IGC will be in violation of the terms and conditions of the IGA. Except for the 90-day one-time extension, there are no other exceptions to the IGA. IGC has requested the 90-day extension as their audited financial statements have been delayed due to COVID-19. IGC’s auditors are scheduled to perform field work in April 2022, with an anticipated financial statement issuance date of April 30, 2022. A 90 day extension would require submission of the financial statements and other information no later than June 30, 2022. The County provides financial assistance to IGC for the purposes of establishing a scientific research/educational campus in Maricopa County and advancing the economic development goals of the County. (C-18-21-065-X-00)

Attachments (1)