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7 <br /> (2) Capital Area Workforce Development (CAWD) has offered: <br /> - Employment Recruitment and Screening Services <br /> - Partnership with local agencies and institutions of higher learning <br /> - On-The-Job Training reimbursement <br /> - Incumbent Worker Training grant ($10,000) <br /> FINANCIAL IMPACT: The financial impact encompasses a performance-based grant calculated <br /> at 75% of actual net-new business and real property tax investment valuation for 5 years. The <br /> purchase of the former Mid-Atlantic STIHL, Inc. building (Orange County 2025 Tax Value of <br /> $8,108,800) that is already taxed by Orange County, is not included in the calculation. Only the <br /> net-new investment in personal property (machinery & equipment), and approximately $750,000 <br /> in additional real property (for improvements to the existing building to be purchased) is proposed <br /> to receive an incentive. The estimated five-year incentive total is $100,433. During the first ten <br /> (10) years of operation, CITEL's investment is estimated to create up to $263,313 in total gross <br /> property tax valuation, and $162,800 in net valuation in the County. <br /> ALIGNMENT WITH STRATEGIC PLAN: This item supports: <br /> • GOAL 6: DIVERSE AND VIBRANT ECONOMY <br /> OBJECTIVE 6. Provide workforce and business development resources to enhance the <br /> skills of residents of the County. <br /> RECOMMENDATION(S): The Manager recommends that the Board: <br /> (1) Receive the proposal to consider entering a Performance Agreement for the purpose of <br /> incentivizing CITEL's investment in Orange County; <br /> (2) Conduct the Public Hearing and receive public comments; <br /> (3) Close the Public Hearing; and <br /> (4) Approve the performance-based incentive agreement between Orange County and CITEL <br /> America, Inc., subject to final review by the County Attorney, authorize the Chair to sign <br /> the Performance Agreement on behalf of the County, and authorize the County Manager <br /> to sign any contract amendments up to the maximum performance incentive amount of <br /> $100,433. <br />