3-21-22 BOC Regular Meeting - Laserfiche WebLink

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When the COUNTY calculates its incentive each year, the COMPANY agrees that the incentive will be reduced if such cumulative taxable investment is not made in accordance with Exhibit A or the cumulative number of New Jobs is not met and maintained as shown in Exhibit B in each calendar year. d. The COMPANY'S compliance with all Performance Criteria set out in this Agreement shall be attested to annually under oath by an officer of the COMPANY and provided to the COUNTY by no later than March 31St of the subsequent year. The COMPANY must provide the NCUI 101 to the COUNTY and the COUNTY may, in its discretion, require other documentation to verify the attainment of these performance commitments. If the COMPANY has not provided proof of the New Jobs or the Taxable Investment by March 31St, it will be assumed the COMPANY is no longer requesting an incentive for that year of this Agreement. If the COMPANY needs additional time to provide the necessary proof, it must notify the COUNTY, in writing, thirty days before the proof is due, asking for an extension and the COUNTY has the sole discretion in determining whether to provide an extension and the date the proof will be due. 6. CLOSEOUT. The COUNTY will close out the Grant on the first of the following to occur, (hereinafter referred to as 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 31St day of December, 2026,unless such term is extended by mutual written agreement of the parties. 7. OBLIGATION TO REPAY GRANT FUNDS AND/OR RECEIVE PARTIAL INCENTIVES. As stated under the Performance Criteria and reiterated, if, for any reason, the COMPANY shall not satisfy the minimum conditions set forth in this agreement, then the COUNTY shall not pay the incentive grant, or shall 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 A, all or part of the Grant Award must be repaid, reduced or reimbursed as follows and as described in the performance criteria section above: