Orange County NC Website
Browse       Search
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 />