1-19-16 Reg. Meeting - Laserfiche WebLink

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BK:00028 PG -.0048 an average annual wage of $45,000 (FORTY-FIVE THOUSAND DOLLARS). d. Should it become necessary, after the effective date of this Agreement, for a New Job to be counted by the COMPANY as an Existing Job for purposes of maintaining the base level of Existing Jobs required by this Agreement, that job may not then be counted as a New Job. A job created or retained pursuant to the terms of this agreement may not simultaneously count as both a New Job and an Existing Job. e. Taxable Investment. The COMPANY agrees to make a privately funded taxable investment in machinery, equipment and taxable improvements as part of the Project, which will amount to at least $30,200,000 (THIRTY MILLION TWO HUNDRED THOUSAND DOLLARS). f. The COMPANY'S compliance with all Performance Criteria set out in this Agreement shall be attested to quarterly under oath by an officer of the COMPANY. 6. CLOSEOUT. The COUNTY will close out the Grant on the first of the following to occur (hereinafter "Closeout"): a. The date as of which the COUNTY has received and accepted proof reasonably satisfactory to it that the Project has been completed and all the Performance Criteria have been satisfied; or, b. The 15th day of March, 2023, unless such term is extended by mutual written agreement of the Parties. 7. OBLIGATION TO REPAY GRANT FUNDS. If, for any reason, the Project shall not satisfy the minimum conditions set forth in this agreement, then the COUNTY shall not pay the incentive grant, reduce the amount of the incentive grant, and/or seek reimbursement from the COMPANY that received any incentives made possible by this grant, as set forth herein, and COMPANY, or any party, shall remit such incentive funds promptly to the COUNTY and the COMPANY shall bear all costs of collection. If the Project as described in this Agreement and the attached exhibits does not meet the Performance Criteria set out herein and the standards for the incentive paid as set out in Exhibit "1" which is hereto attached, all or part of the Grant Award must be repaid as follows: a. If. 1) the amount of ad valorem taxes paid to the COUNTY over the term of this agreement which are attributable to this project has not been sufficient to pay to the COUNTY the amount of incentives paid from COUNTY funds, which could amount to $583,746.24 (FIVE HUNDRED EIGHTY THREE THOUSAND SEVEN HUNDRED FORTY-SIX DOLLARS AND TWENTY-FOUR CENTS) in the next six fiscal years, .19