Browse
Search
Agenda - 09-17-2024; 5-a - Public Hearing Regarding a Proposed Economic Development Recruitment Incentive and Performance Agreement Between Orange County and Morinaga America Foods, Inc.
OrangeCountyNC
>
Board of County Commissioners
>
BOCC Agendas
>
2020's
>
2024
>
Agenda - 09-17-2024 Business Meeting
>
Agenda - 09-17-2024; 5-a - Public Hearing Regarding a Proposed Economic Development Recruitment Incentive and Performance Agreement Between Orange County and Morinaga America Foods, Inc.
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/12/2024 11:07:33 AM
Creation date
9/12/2024 11:12:12 AM
Metadata
Fields
Template:
BOCC
Date
9/17/2024
Meeting Type
Business
Document Type
Agenda
Agenda Item
5-a
Document Relationships
Agenda for September 17, 2024 BOCC Meeting
(Message)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2024\Agenda - 09-17-2024 Business Meeting
Minutes 09-17-2024 - Business Meeting
(Message)
Path:
\Board of County Commissioners\Minutes - Approved\2020's\2024
OTHER-2024-069-Performance Agreement Between Orange County and Morinaga
(Message)
Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2024
OTHER-2024-070-FY26 Local Share Certification for Funding
(Message)
Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2024
OTHER-2024-071-Public Hearing Record
(Message)
Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2024
OTHER-2024-073-Petition for Annexation of Contiguous Property
(Message)
Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2024
OTHER-2024-075-Stormwater Control Measure Easement and Maintenance Agreement with Town of Hillsborough
(Message)
Path:
\Board of County Commissioners\Various Documents\2020 - 2029\2024
PRO-2024-014-Emergency Management Professionals' Day
(Message)
Path:
\Board of County Commissioners\Proclamations\2020-2029\2024
PRO-2024-015-Orange County Preparedness Month
(Message)
Path:
\Board of County Commissioners\Proclamations\2020-2029\2024
PRO-2024-016-Adult Education and Family Literacy Week
(Message)
Path:
\Board of County Commissioners\Proclamations\2020-2029\2024
RES-2024-049-Public Transportation Program Resolution - FY26
(Message)
Path:
\Board of County Commissioners\Resolutions\2020-2029\2024
RES-2024-050-Resolution Authorizing Upset Bid Process for 0.2‐acre plot, PIN #9863668263
(Message)
Path:
\Board of County Commissioners\Resolutions\2020-2029\2024
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
42
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
15 <br /> satisfactory to the County that the minimum employment and investment numbers have been <br /> met and that all local property taxes on the real and Personal Property owned by the Company <br /> and located within Orange County have been paid in full. Should the company meet the <br /> investment goals before all job creation has been completed, the County will withhold$500.00 <br /> per job that may remain to be created by December 31,2030 and will pay out the final amount <br /> upon proof satisfactory to the County of the job creation according to the job schedule outlined <br /> in Exhibit B.,with the final installment occurring in January 2031. No installment shall be <br /> required to be paid until such time as the County receives proof of the payment of all property <br /> taxes and verification of employment and investment levels has been submitted to the County. <br /> B. TOTAL COUNTY COMMITMENT: The total County commitment for the Inducement <br /> Grant outlined in Section 3.A. shall not exceed Two Million Nine Hundred Ten Thousand <br /> Eight Hundred Ninety-Eight Dollars ($2,910,898.00). <br /> 4. EXPANSION OPPORTUNITY <br /> Participation in this Agreement shall not exclude the Company from consideration for additional <br /> inducements from the County either during or upon completion of this Agreement. Future <br /> projects shall be considered on a case-by-case basis and induced at the discretion of the County <br /> based on new taxable investment and job creation in excess of the minimum levels outlined in <br /> Section 2 above. Any such agreement shall require a separate"Performance Agreement"which <br /> shall conform to all relevant North Carolina Statutes and Orange County Ordinances,Policies or <br /> Resolutions, shall be in writing, and shall be mutually agreed upon by the Parties. <br /> 5. PROOF AND CERTIFICATION <br /> The officials of the Company shall furnish the necessary reports and certificates to verify that <br /> the goals set out in this Agreement are met. Once the Company maintains its investment and <br /> employment goals for one year following the conclusion of the term of this Agreement it will no <br /> longer need to furnish these reports to the County. <br /> Acceptable forms of proof for taxable investment shall be the records of the County Tax <br /> Administrator. Acceptable forms of proof of payment of taxes shall be in the form of cancelled <br /> checks and receipts of payment from the County Tax Administrator or Finance Officer. <br /> Acceptable forms of proof for employment numbers shall be in the form of a notarized statement <br /> from a North Carolina licensed Certified Public Accountant and shall be verified by the North <br /> Carolina Employment Security Commission. <br /> Until that date which is one (1)year following the date of the final Incentive Grant payment,the <br /> Company shall allow representatives of the County to enter the Facility during normal business <br /> hours upon forty-eight(48)hours prior notice for the purpose of confirming that the claimed <br /> investment and employment goals have been met and maintained. <br /> 6. REMEDY <br /> A. INDUCEMENT PACKAGE: If the County does not meet and maintain the terms set forth <br /> in the inducement package,the Company has the option to the rights set forth in Section 1 LA. <br /> of this Agreement upon thirty(30) days written notice to the County. <br /> Revised 2023 Page 6 of 18 <br /> 4863-5202-3475.v5 <br />
The URL can be used to link to this page
Your browser does not support the video tag.