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4 <br /> (3) Wegmans will maintain employment consistent with the job chart below during the term of <br /> the incentive agreement. The award is calculated at 25% of the total incentive based on <br /> job creation. If job targets are not achieved, the incentive payment will be reduced <br /> proportionally. <br /> Employment Projections <br /> 12 Year 2' Year 3Id Year 41 Year 51 Year <br /> Full Time Jobs 185 185 185 185 185 <br /> Part Time Jobs 250 287 325 350 413 <br /> TOTAL(Full Time 285 300 315 325 350 <br /> Equivalent) <br /> *Anything less than projections will create a pro-rata reimbursement. <br /> Orange County Revenue Projections <br /> 1St Year 211 Year Year 41 Year 51 Year TOTAL <br /> Net New <br /> Property $103,782 $95,002 $86,222 $77,442 $68,662 $431,112 <br /> Tax <br /> Revenue <br /> Sales Tax $813,426 $879,025 $944,624 $1,023,343 $1,088,941 $4,749,359 <br /> Revenue <br /> TOTAL <br /> EN UE <br /> REVENUE$917,208.32$974,027.32$1,030,846.32$1,100,785.32$1,157,603.32$5,180,470.60 <br /> Incentive $(400,000) $(400,000) $(400,000) $(400,000) $(400,000) $(2,000,000) <br /> Payment <br /> FINANCIAL IMPACT: The attached "Performance Agreement" contract between Orange <br /> County and Wegmans Food Market, Inc. outlines a total financial impact of up to Four Million <br /> Dollars ($4,000,000) payable in five (5) annual installments of approximately Eight Hundred <br /> Thousand Dollars ($800,000) over a six (6) year period. The financial impact will be co-shared <br /> equally by the County and Town of Chapel Hill, with the County and Town each providing Four <br /> Hundred Thousand Dollars ($400,000) annually during the Inducement Agreement's term. This <br /> Inducement Agreement will be performance-based, measured annually, and based the <br /> Company's investments resulting in a Personal Property valuation of at least Eight Million <br />