Agenda Package - 01-31-11 - Laserfiche WebLink

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GOLD and maintained at leastthrou�h Dectm L bcrl 2015, in order to retain the lull Grant amount (the period from the Ei'fecti Date through December 31, 2015, the `Grant Pei lorinance Period"): The average weekly wage of all permanent full -time jobs at the Facility, includino the new jobs, will equal or exceed $616. The Company will provide health insurance durin the Grant Performance Period for all permanent full -time new and existing jobs in at least the minimum amount required for eligibility for tax credits under Article 3J in G.S. 105- 129.83(d). The Company will make a privately funded investment that will amount to at least S29_3 million invested by December 11.2011 C 'file proceeds of the Grant may be used only to offset those specific expenses listed in the statute that appropriates the funds to DOC. Those include: ]list aIIaIlot? or purchase of equipment: So chuvd repnu's, improvements, or renoF<d Ions to existing buildings to be used for expansion; catstruction aJ or improvements ro new or existing wilier, sewer, gas or electric utility distribution lines or equipment for exiving latildings, construction of or inlp /'ovemenls to new or existing haler. sewer. ga3 or electric afiliry distribution lines or equipment for new or proposed buildings to be used Jo'. mam fact it ing and mch,stl at operations: m' arch other pr'orisions as may be Specified in slanaoti' language oalhot Bing [lie Use ofthe fzutds. o Release of any Grant funds is contingent on the Company providing verification that the Project has received all ofits required environmental permits, if any_ a Payment of my Grant funds under this Agreement is contingent on the Company being in compliance with that certain Community Economic Development Agreement, dated effective .August 5, 2010 (the "CEDA ") governing the terms of the Company's Job Development Investment Grant a%vard. The Company agrees to report job creation on the part of a supplier which it causes to locate in Morth Carolina as a result of the project activity. The company will cause the supplier to enter an agreement with respect to providing annual reports chain- the grant term, in which it will demonstrate and certify the number ofjobs created, and that it provides its workers with health insurance for which the supplier pays at least 50% of the cost. Disbursement of Grant Proceeds will be disbursed in three installments tied to performance tinder the Company s CMA, based on creation and maintenance of the newjobs and satisfaction of other Performance Criteria set out in the A"recnicnt (sec above). Disbuiscmenl %kill be made is follows • Cwer�,fiia. Lie Lr C'�.:�ui One,vU- �i;,' „�