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8 <br /> 1 The proposed inducement payment will be in the form of a performance-based grant payable in <br /> 2 up to five (5) installments over a five-year period at an amount equal to 75% of CITEL' s projected <br /> 3 net increase in real and personal property tax valuation over the five-year investment period as <br /> 4 outlined in the chart above for 2026—2030. It ensures that annual tax revenues from the project's <br /> 5 additional investment, net of annual incentive payments, remain positive in all years of the <br /> 6 incentive agreement. <br /> 7 <br /> Orange County Revenue Projections (5 Year) - <br /> New <br /> ISiLfS� 1 � 1 • ���. �r a <br /> Property 1 $17,553 $22,660 $27,255 $31,392 $35,050 $133,910 <br /> Tax <br /> Incentive §-$13,165 -$16,995 -$20,442 -$23,544 -$26,288 -$100,433 <br /> Payment <br /> Annual Net $4,388 $5,665 $6,814 $7,848 $8,763 $33,478 <br /> Revenue8 <br /> • • $263,313 <br /> Incentive Payment -$100,433 <br /> Total Net Revenue $162,880 <br /> 9 <br /> 10 Additional Partner Participation <br /> 11 (1) The State of North Carolina has offered CITEL the following incentive programs to <br /> 12 encourage the company to locate the manufacturing facility in Orange County, instead of <br /> 13 choosing competing locations in other states, and, subject to approval of local County <br /> 14 government incentives. <br /> 15 <br /> of • • ($591,300) <br /> State Tax Exemption on Machinery & Equipment Purchases $270,000 <br /> One North Carolina Fund $50,000 <br /> N.C. Community College System's Customized Training $118,500 <br /> Value <br /> Work Opportunity Tax Credit (WOTC) $52,800 <br /> Federal Bonding Program $90,000 <br /> Job Ready Grants $10,000 <br /> 16 <br /> 17 (2) Capital Area Workforce Development (CAWD) has offered: <br /> 18 - Employment Recruitment and Screening Services <br /> 19 - Partnership with local agencies and institutions of higher learning <br /> 20 - On-The-Job Training reimbursement <br /> 21 - Incumbent Worker Training grant ($10,000) <br /> 22 <br />