Orange County NC Website
13 <br /> property taxes and verification of employment and investment levels have been submitted to the <br /> County. <br /> B. TOTAL COUNTY COMMITMENT: The total County commitment for the Inducement <br /> Grant outlined in Section 3.A. shall not exceed One Hundred Thousand Four Hundred <br /> Thirty Three Dollars ($100,433.00). <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 after the Term of this Agreement. Future projects <br /> shall be considered on a case-by-case basis and induced at the discretion of the County based on <br /> new taxable investment and job creation in excess of the minimum levels outlined in Section 2 <br /> above. Any such agreement shall require a separate "Performance Agreement"which shall <br /> 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 written notice for the purpose of confirming that the <br /> claimed 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 11.A. <br /> of this Agreement upon thirty(30) days written notice to the County. <br /> B. DELAY OF INDUCEMENT PACKAGE INITIATION: If the Company believes that it will <br /> not meet employment and investment goals that are to be met pursuant to this Agreement by <br /> December 31, 2026, the onset of the Inducement Grant Period may be delayed up to one(1) <br /> additional year, at the option of the Company. Written notification of the exercise of this option <br /> to delay onset must be received by the County no later than December 31, 2026. In that event <br /> this Agreement shall initiate no later than December 31, 2027 and shall expire no later than June <br /> 30, 2033. Notwithstanding anything else herein the Commencement Date shall not be <br /> beyond December 31, 2027. If Company cannot meet these requirements this Agreement <br />