Agenda - 1-3-17 Reg. Meeting - Laserfiche WebLink

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092 Agreement, then, in any event, the County shall reduce the grant amount paid from the County funds in the following manner: a. If the ad valorem taxes paid by the Company do not meet the required minimum amount of taxable investment of at least thirty-six million dollars as set out herein, the County will reduce the total incentive grant by a prorated amount based off the percentage of actual investment. b. Pursuant to Attachment A, if the Company's investment does not meet the minimum estimated tax value for a particular year, the County has the right to terminate the agreement, not pay any further payments to the Company and can seek reimbursement from the Company for any funds already paid. c. If the Company does not meet the requirements for New Jobs, including number of jobs, average annual wage, and/or maintaining such New Jobs through the end of the Incentive Period as set forth in Paragraph 1 and pursuant to the provisions of this Agreement, County shall reduce the total incentive grant by a prorated amount based off the percentage of New Jobs not meeting the criteria. d. If any existing jobs are eliminated or cease to exist prior to Closeout and after any grant payment by the County, then the Company shall repay the County part of the Grant at a prorated per Existing Job eliminated or not maintained through Closeout. b) If at any time during the Grant period the Company substantially ceases operations at the Project, the County shall not be obligated to pay to the Company any further grant funds. c) If at any time during the Grant period the Company fails to retain one hundred percent of Existing Jobs as set forth in Paragraph 5(b) herein, the Company will be in default of this agreement and the County shall not be obligated to pay to the Company any further grant funds. 8. Additional Provisions. a. Verification and Reporting. The Company shall provide to the County on a quarterly basis, or upon the County's request, all documentation deemed necessary by the County to verify retention of the Existing Jobs, creation and maintenance of the New Jobs, and expenditure of the Taxable Investment described in this agreement, including, but not limited to, Employment Security Commission form NCUI 101, a list of all positions used in accounting for the New Jobs and Existing Jobs, and the use of the Grant funds. Annual reporting shall be done by January 15, or as soon thereafter the NCUI 101 annual report is available, every year. b. Force Majeure. If unforeseen calamity, an Act of God, or financial disaster is the alleged cause of the Company's failure to satisfy or perform any obligation under this Agreement, the Company may request an extraordinary modification of this Agreement from the County. The parties agree that any decision to allow such modification shall be at the sole discretion of the